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    Google, Meta face EU probe into possible competition breach

    By SHOOTUpdated:No Comments1423 Views
    The logo of Google is displayed on a carpet at the entrance hall of Google France in Paris, Monday, Nov. 18, 2019. The European Union threatened to crack down on an agreement between Google and Facebook parent Meta for online display advertising services, saying Friday, March 11, 2022, that the deal may breach the bloc’s rules on fair competition.(AP Photo/Michel Euler, File)
    BRUSSELS (AP) --

    The European Union threatened to crack down on an agreement between Google and Facebook parent Meta for online display advertising services, saying Friday that the deal may breach the bloc's rules on fair competition.

    The EU's competition watchdog opened a probe into a 2018 pact involving the participation of Meta's "Audience Network" in Google's "Open Bidding" program.

    The European Commission, the EU's executive arm, said the deal may be part of an effort to exclude ad tech services that compete with Google's Open Bidding program — which would harm publishers and consumers.

    "If confirmed by our investigation, this would restrict and distort competition in the already concentrated ad tech market, to the detriment of rival ad serving technologies, publishers and ultimately consumers," European Competition Commissioner Margrethe Vestager said in a statement Friday.

    The United Kingdom has launched its own inquiry into the agreement between Google and Meta.

    The European Commission said it has been in contact with the U.K. competition authority and "intends to closely cooperate on this investigation following the applicable rules and procedures."

    Tags:EUEuropean UnionFacebookGoogleMeta



    DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuit

    Friday, November 22, 2024
    Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. (AP Photo/Paul Sakuma, File)

    DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.

    The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.

    The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.

    DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.

    "While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility," DirecTV CEO Bill Morrow said in a statement.

    The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns.

    The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink.

    DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer... Read More

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