Facebook and Amazon have been spending big to influence government policy on Capitol Hill. Each company has spent around US$4 million on lobbying in the second quarter of 2019, reported CNBC.
Another tech giant, Google, spent much less, at US$2.9 million for the quarter. Apple was the lowest spender in the pack, at US$1.8 million for the second quarter.
These four tech companies are currently embroiled in an antitrust investigation which began at the beginning of June. The investigation aims to find out whether these companies have too much influence over the market and whether they have been violating antitrust law.
House Judiciary Chairman Jerrod Nadler (Democrat – New York) has said that “there is growing evidence that a growing handful of gatekeepers have come to capture control over key arteries of online commerce, content and communications.”
Democratic presidential candidates have also taken aim at the big tech companies, with Massachusetts Sen. Elizabeth Warren vowing to “break up big tech” and introduce legislation if elected president that would set new antitrust standards for the companies.
Full Content: CNBC
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI