Google CEO Sundar Pichai acknowledged in a new interview that Google will have to remain entangled in court for “many years” to avoid action in two major federal antitrust cases targeting its business model.
US District Judge Amit Mehta ruled in August that Google It holds an illegal monopoly on online search, where it controls over 90% of the market.
The case is currently in the remedial phase and Mehta is expected to decide on sentencing by next summer.
When asked about the judge's decision during an upcoming episode of Bloomberg's “The David Rubenstein Show: Peer to Peer Conversations.” Pichai said: “We certainly disagree with the decision, but it's still in the midst of a remediation phase.”
“We will appeal, and the process will likely take several years,” Pichai said.
Google, on the other hand, is currently fighting in court a separate DOJ case that alleges it operates a “triangle of monopolies” through its services. Control over the digital advertising platforms used by advertisers and publishers There is also an online marketplace that connects them. A ruling in that case by Judge Leonie Brinkema could take months.
“Where we can find creative solutions, I think we will do that,” Pichai said.
“Where we think it genuinely harms our ability to innovate on behalf of our users, we will defend ourselves vigorously,” Pichai said. “The consequences will take time to play out.”
many Wall Street analysts have already warned that Google It is unlikely to emerge unscathed from this anti-competitive battle – one told clients that the tech firm is entering a period of “significant uncertainty” in the near future.
The company's critics argue that antitrust action is necessary to prevent Google from further strengthening its monopoly as it pours resources into artificial intelligence and other emerging technologies.
Pichai downplayed the risks, arguing that regulatory scrutiny was inevitable given the company's size.
He noted that the recent decision by the European Union court to annul a $1.7 billion fine against the company took nearly 10 years to settle.
Google shares were steady in morning trading on Wednesday.
In both cases, the federal government is attempting to break up Google's empire, potentially ending a company that generated more than $307 billion in revenue last year.
Google has denied any wrongdoing, arguing that it faces stiff competition and that customers use its products because of their quality.
Company The EU is set to face another headacheWhere regulators have reportedly warned Google that it must change its search business practices or face huge fines under the bloc's Digital Markets Act.
