FOX Business’ Charlie Gasparino gives updates on the Department of Justice’s lawsuit against Google and the potential TikTok deal.
The U.S. House of Representatives Judiciary Committee's antitrust subcommittee is expected to release a much-anticipated report into antitrust allegations against four of America's largest tech companies as soon as Monday, according to a source with direct knowledge of the matter.
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The chief executives of four of the world's largest tech companies, Amazon.com Inc, Facebook Inc, Apple and Alphabet's Google, testified before the panel in July.
During the hearing, the four CEOs parried a range of accusations that they crippled smaller rivals in their quest for market share. The four companies have a combined market value of about $5 trillion.
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The House antitrust subcommittee plans to hold a hearing on Friday on proposals to strengthen antitrust laws and restore online competition as it nears the release of this long-awaited report on Big Tech.
The date of release of the report can still be moved, the source said.
The U.S. Justice Department is also probing the big four tech platforms. Facebook and Amazon are also facing inquiries by the Federal Trade Commission, while U.S. states attorneys general are looking at Facebook and Google.
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(Reporting by Nandita Bose; Editing by Sandra Maler and Leslie Adler)
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September 30, 2020 at 09:30AM
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US House Judiciary antitrust report likely to come out as soon as Monday October 5: source - Fox Business
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