Breaking News: Department of Justice Calls for Google to Divest Chrome Browser
In a significant development, Alphabet shares closed down 4% on Thursday after news broke that the Department of Justice is urging Google to divest its Chrome browser. This move aims to put an end to Google’s search monopoly and level the playing field for rival search engines.
The Department of Justice’s Position
According to the DOJ’s filing on Wednesday, the proposed break-up would “permanently stop Google’s control of this critical search access point and allow rival search engines the ability to access the browser that for many users is a gateway to the internet.” This action comes after a bipartisan antitrust case that found Google in violation of Section 2 of the Sherman Act.
Implications for Google
If the break-up is enforced, Google would be prohibited from entering into exclusionary agreements with competitors like Apple and Samsung. These measures would be part of a set of remedies that would be in effect for 10 years, potentially reshaping the tech landscape.
Stay Informed
This is a developing story with far-reaching implications for the tech industry. Keep an eye on the latest updates as the situation unfolds.
Contributions by CNBC’s Jennifer Elias
CNBC’s Jennifer Elias has contributed to this report, providing valuable insights into the ongoing antitrust case against Google. Stay tuned for more updates on this evolving story.
