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Summary: US senators propose bill to break up Google, Facebook ad businesses

US Senators introduced a new bill to that could force Google and Facebook to break up their lucrative digital advertising businesses.

“Companies like Google and Facebook have been able to exploit their unprecedented troves of detailed user data to obtain vice grip-like control over digital advertising, amassing power on every side of the market and using it to block competition and take advantage of their customers. The conflicts of interest are so glaring that one Google employee described Google’s ad business as being like ‘if Goldman or Citibank owned the NYSE.’ This lack of competition in digital advertising means that monopoly rents are being imposed upon every website that is ad-supported and every company—small, medium, or large—that relies on internet advertising to grow its business," US Senator Mike Lee remarked while introducing the Competition and Transparency in Digital Advertising (CTDA) Act on May 19 along with Senators Amy Klobuchar, Ted Cruz, and Richard Blumenthal (D-CT). The proposed bipartisan bill could force…

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