New bipartisan bill aims to break up Google, Facebook online ads businesses
legislation mainly targets Alphabet Inc’s (NASDAQ: GOOGL) Google and Facebook parent Meta Platforms Inc (NASDAQ: FB), whose massive part of the revenue comes from digital advertisements
By Arghyadeep Dutta
Published - May 19, 2022, 06:02 PM ET
Last Updated - Feb 29, 2024, 07:16 AM EST
• GOP-led bipartisan bill takes aim at Google and Facebook and would force them to break up online ad businesses
• Competition and Transparency in Digital Advertising Act is trying to rein in tech power through antitrust reform
A bipartisan group of senators introduced legislation on Thursday that aims at conflicts of interest in the advertising technology industry and if passed, would force the Big Techs to break up its dominant online-ad business.
The Competition and Transparency in Digital Advertising Act, sponsored by Sens. Mike Lee (R-Utah), Amy Klobuchar (D-Minn.), Sens. Ted Cruz (R-Texas), and Richard Blumenthal (D-Conn.), is aiming to rein in the power of Big Tech.
