Sources state that the Federal Trade Commission is close to finalizing its lawsuit against Amazon (AMZN). The lawsuit is allegedly going to target various areas of Amazon’s business including logistics and Amazon Prime.
On July 25, 2023, Politico reported that the Federal Trade Commission is set to finish its antitrust lawsuit against Amazon. According to anonymous sources, the lawsuit is expected as soon as August and will likely target an array of Amazon’s businesses in a bid to break up the tech giant.
The piece goes on to detail the lengths the FTC has gone to in order to acquire information for its lawsuit. Apparently, the FTC has interviewed witnesses from Amazon as well as those external to the company. Even some high-profile individuals have allegedly been interviewed including CEO Andy Jassy and Amazon Founder Jeff Bezos.
Part of the lawsuit is potentially set to focus on Amazon Prime. The FTC appears to be concerned that Amazon is gaining too much market power now that the subscription service includes access to not only deliveries but also media like physical and audio books, music, and video.
Recently, the FTC lost its case to block Microsoft’s acquisition of Activision Blizzard. After which, the commission attempted to delay the acquisition but the appeals court denied the bid. With many roadblocks now clear, Microsoft and Activision Blizzard agreed to extend the deal deadline to October, presumably to continue ironing out the wrinkles – like the UK’s regulator concerns.
Be sure to keep it locked to Shacknews as we bring you the latest on the Federal Trade Commission and its alleged upcoming lawsuit against Amazon. You can also read over our earnings report page for information about all the companies that have reported this quarter.
Sam Chandler posted a new article, Next FTC lawsuit could target Amazon (AMZN) break up
Finally! Then do Google.