European Media Organizations Seek Compensation From Google Over Market Losses
European Media Lawsuit Against Google
The coalition of European media organizations, including Axel Springer, has filed a lawsuit against Google seeking compensation for significant financial losses amounting to $2.3 billion. The media companies allege that the reduced competition in the advertising technology sector has adversely affected their revenues and market share.
Allegations of Market Manipulation
The lawsuit accuses Google of engaging in anti-competitive practices that have restricted access to advertising revenue for European media companies. The coalition claims that the tech giant's dominance in the online advertising market has stifled competition and harmed the financial interests of media organizations.
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