Facebook and Google’s market power, especially over digital advertising, has translated to a potential “extinction level event” for local news operations, broadcast, online and print. That was the underlying message of House Antitrust Subcommittee chairman David Cicilline (D-R.I.) at a hearing Friday on “Saving a Free and Diverse Press.”
Rep. David Cicilline (D-R.I.), chairman of the House Judiciary antitrust subcommittee, on Thursday proposed a ban on most merger activity amid the coronavirus pandemic. “As millions of businesses struggle to stay afloat, private equity firms and dominant corporations are positioned to swoop in for a buying spree,” the Rhode Island lawmaker said during a teleconferenced speech at an event held by the Open Markets Institute
Democrat Representative David Cicilline of Rhode Island, who leads the Judiciary Committee’s antitrust subcommittee, doesn’t just want to enforce the laws governing the tech industry. He wants to change them.
A House Democrat introduced a bill today that would allow media outlets to band together to negotiate for better terms with giant tech platforms that have been dominating the market for online ad revenue. Rep. David Cicilline’s (D-R.I.) Journalism Competition and Preservation Act would grant a temporary antitrust waiver for news publishers to collectively negotiate with companies like Facebook and Google.