European media sues Google in US$2.3 billion lawsuit – 02/29/2024 – Market

A coalition formed by more than 30 communication groups, from 17 European countries, went to court against the online search giant Google, from Alphabet, alleging loss of competitiveness in the digital media market, according to the news agency Reuters this Wednesday. fair (28).

Companies from countries such as Spain, Sweden, the Netherlands, Norway, Denmark, Poland and Belgium are filing a lawsuit worth US$2.3 billion (R$11.4 billion) against Google, at a time when the group is under the scrutiny from antitrust regulators on the European continent.

Communication groups, including German Axel Springer, owner of the Bild newspaper and the Politico platform, argue that less competition in the advertising media market has led them to record losses.

According to the companies, without Google’s dominant position, they could have charged more for advertising space and earned higher revenues to support their respective operations.

In a statement sent to the agency, a Google spokesperson said the company opposes the lawsuit, adding that it is “speculative and opportunistic.” “Google works constructively with publishers across Europe. [As nossas ferramentas de publicidade] adapt and evolve in partnership with these same editors.”

In 2021, Google and French antitrust regulators reached a deal in which big tech agreed to pay almost US$270 million (R$1.33 billion) in fines and change its advertising system and practices so as to no longer harm publishers. and other ad sellers.

In a statement, the coalition said it had decided to consolidate its compensation claims against Google, in order to avoid multiple claims in different countries. The case was opened in the Netherlands and is being filed by the law firms Geradin Partners and Stek.

A statement released this Wednesday by the media groups’ defense says that “it is past time to see Google held accountable for its abuses and compensate the victims.” “Enough time has already been devoted to getting to the heart of Google’s wrongdoing in ‘ad tech,’ which is now clear for all to see,” said Damien Geradin, founding partner of Geradin Partners.