A Senate panel will hold a hearing later this month to examine antitrust concerns about Silicon Valley mergers as tech giants face heightened scrutiny over their market power.<\/p>\n
The Senate Judiciary subcommittee on antitrust announced Tuesday that it would hold a hearing on Sept. 24 to “explore issues relating to competition in technology markets and the antitrust agencies’ efforts to root out anticompetitive conduct.”<\/p>\n
“Acquisitions of nascent or potential competitors by dominant digital platforms can be pro-competitive, but they also run the risk of eliminating the very competition that may challenge the incumbent firm’s leading position in the future,” Sen. Mike Lee (R-Utah), chairman of the panel, said in a statement. “We are holding this hearing to gain a better understanding of the various concerns raised by these transactions and to examine how the antitrust agencies analyze such mergers.”<\/p>\n
Sen. Amy Klobuchar (Minn.), the subcommittee’s ranking Democrat and a 2020 presidential candidate, said the series of acquisitions that have propelled tech giants’ rapid growth over the years raise “serious competition issues.”<\/p>\n
“Big technology companies have become some of the most powerful organizations in the world,” she said in a statement. “They face little competition and there are numerous examples of the companies purchasing startup competitors in various lines of business.”<\/p>\n
What we don’t know: Who will testify. Lee said that, beyond the hearing, he’s interested in speaking with “policy analysts, market participants, and other stakeholders.”<\/p>\n","protected":false},"excerpt":{"rendered":"
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