Technology: FTC chief: Breaking up tech companies is 'messy,' but still doable - - PressFrom - US
  •   
  •   
  •   

TechnologyFTC chief: Breaking up tech companies is 'messy,' but still doable

19:56  14 august  2019
19:56  14 august  2019 Source:   cnet.com

Justice Department Opens Antitrust Review of Big Tech Companies

Justice Department Opens Antitrust Review of Big Tech Companies The Justice Department said on Tuesday that it would start an antitrust review into how powerful internet companies had accumulated market power and whether they had acted to reduce competition, in another threat to the growing power of America’s technology giants. The Justice Department did not name specific companies in a news release announcing the review, but noted that it would look into concerns about search, social media and some retail services — presumably putting Google, Facebook and Amazon on notice.

Federal Trade Commission is prepared to break up major technology companies if necessary by undoing past mergers Simons said in the that breaking up a company is challenging, but could be the right remedy to rein in dominant companies He added, "It's not ideal because it's very messy .

The U.S. Federal Trade Commission is prepared to break up major technology companies if necessary by He is leading a broad review of the technology sector to see whether companies , including Facebook Inc, are harming competition. He added, "It's not ideal because it's very messy .

The Federal Trade Commission is apparently willing to break up big tech companies if it has to. In an interview with Bloomberg Tuesday, FTC Chairman Joe Simons said that if necessary, the FTC could undo past mergers.

FTC chief: Breaking up tech companies is 'messy,' but still doable© Provided by CBS Interactive Inc. Federal Trade Commission Chairman Joe Simons said the FTC could break up tech companies. Getty Images

"It's not ideal because it's very messy. But if you have to you have to," he said.

The FTC is currently investigating whether companies like Facebook have made anticompetitive moves. The agency is reportedly focused on whether Facebook's purchases of companies such as Instagram and WhatsApp were part of the social media giant's strategy to stifle competition. Facebook revealed earlier this month that the FTC had launched an antitrust probe into the company, but didn't provide many details. The announcement came shortly after the agency said it was fining Facebook a record-setting $5 billion for alleged privacy missteps.

White House plans meeting with tech companies about online extremism

White House plans meeting with tech companies about online extremism But it wasn’t clear which companies

FTC Chairman Joe Simons, who is leading a broad review of the technology sector, said in an interview Tuesday that breaking up a company is challenging, but could be the right “If you have to, you do it,” Simons said about breaking up tech companies . “It’s not ideal because it’s very messy .

The head of the Federal Trade Commission ( FTC ) said he's prepared to break up big tech companies by undoing past mergers as the agency probes whether the Both of those acquisitions were approved at the time by the FTC . However, antitrust regulators could still unwind such mergers.

FTC chief: Breaking up tech companies is 'messy,' but still doable© CNET

Federal Trade Commission Chairman Joe Simons said the FTC could break up tech companies.

In July, the Department of Justice kicked off its own antitrust review of online platforms.

The FTC declined to comment.

FTC chief: Breaking up tech companies is 'messy,' but still doable© Provided by CBS Interactive Inc.
Facebook FTC settlement puts Zuck personally on the hook
(Niall Carson - PA Images)
Read More

Two-thirds of Americans want to break up companies like Amazon and Google.
Turns out breaking up Big Tech is super popular.

—   Share news in the SOC. Networks

Topical videos:

usr: 1
This is interesting!