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FAANG:Bipartisan bill to force divest portions of ad business

»www.theregister.com/2022 ··· rtising/
»www.lee.senate.gov/servi ··· 2483026F
quote:
A bipartisan group of US lawmakers has proposed legislation that would likely force Alphabet's Google, Meta's Facebook, and Amazon to divest portions of their ad businesses. The bill, called the Competition and Transparency in Digital Advertising Act (CTDA), was introduced on Thursday by Senator Mike Lee (R-UT), with the participation of Senators Amy Klobuchar (D-MN), Ted Cruz (R-TX), and Richard Blumenthal (D-CT). ... The summary information [PDF] provided by Senator Mike Lee's office says, "If enacted into law, this bill would most likely require Google and Facebook to divest significant portions of their advertising businesses—business units that account for or facilitate a large portion of their ad revenue. Amazon may also have to make divestments, and the bill will impact Apple's accelerating entry into third-party ads." Apple does not separate its ad revenue from its services business but estimates suggest the iBiz made about $3.7bn selling ads in 2021. Assuming Apple continues to grow its services business, the company will eventually meet the $5bn threshold. ... Google, Facebook, and Amazon did not immediately respond to requests for comment.
From the linked summary sheet :
quote:
The Competition and Transparency in Digital Advertising (CTDA) Act restores and protects competition in digital advertising in two ways:
1. CTDA prohibits large digital advertising companies from owning more than one part of the digital ad ecosystem if they process more than $20 billion in digital ad transactions.
2. CTDA requires medium-sized and larger digital advertising companies that process more than $5 billion in digital ad transactions to abide by several obligations to protect their customers and competition.
Got almost everyone in the FAANG acronym Take what you will from this.

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