Gannett, the largest newspaper publisher in the United States, is suing Google, alleging the tech giant holds a monopoly over the digital ad market, reports CNN.
According to CNN, the McLean,VA-based publisher of USA Today and more than 200 local publications “filed the lawsuit in a New York federal court and is seeking unspecified damages. Gannett argues in court documents that Google and its parent company, Alphabet, controls how publishers buy and sell ads online.”
“The result is dramatically less revenue for publishers and Google’s ad-tech rivals, while Google enjoys exorbitant monopoly profits,” the lawsuit states.
“Google controls about a quarter of the US digital advertising market, with Meta, Amazon and TikTok combining for another third, according to eMarketer. News publishers and other websites combine for the other roughly 40%. Big Tech’s share of the market is beginning to erode slightly, but Google remains by far the largest individual player,” add CNN.
Michael Reed, Gannett’s chairman and CEO, said in a statement that Google’s dominance in the online advertising industry has come “at the expense of publishers, readers and everyone else.”
“Digital advertising is the lifeblood of the online economy,” Reed added. “Without free and fair competition for digital ad space, publishers cannot invest in their newsrooms.”
PHOTO: USA Today