Breaking News
0
Ad-Free Version. Subscribe now to follow markets, faster and distraction-free. More details

Connecticut probes Amazon's digital books business for anti-competitive behavior

Stock MarketsJan 13, 2021 22:36
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: An Amazon logo is pictured at a logistics centre in Mannheim

By Nandita Bose and Arundhati Sarkar

(Reuters) - Connecticut is investigating Amazon.com Inc (NASDAQ:AMZN) for potential anti-competitive behavior in its business selling digital books, the state's attorney general said on Wednesday.

The probe is one of many into the e-commerce platform's business practices. Amazon is also under investigation by the attorneys general in New York, California and Washington state and the Federal Trade Commission.

"Connecticut has an active and ongoing antitrust investigation into Amazon regarding potentially anticompetitive terms in their e-book distribution agreements with certain publishers," Attorney General William Tong said in a statement to Reuters.

The probe comes as technology platforms face a backlash in the United States and across the world, fueled by concerns among regulators, lawmakers and consumer groups that firms have too much power and are harming users and business rivals.

Tong said his office has previously taken action against companies such as Apple Inc (NASDAQ:AAPL) and a number of e-book publishers to protect competition in that market and will continue to monitor it aggressively.

An Amazon spokeswoman declined to comment.

Amazon enjoys a dominant market share in the e-book business, whose rivals include Barnes & Noble (NYSE:BKS_old), Apple and Alphabet (NASDAQ:GOOGL)'s Google.

A scathing antitrust report in October from the U.S. House of Representatives Judiciary Committee's antitrust panel published details of what it said was Amazon's anti-competitive behavior and suggested barring the company from operating its online marketplace, in which it also competes. Amazon had pushed back against the report before it was released, saying that market interventions "would kill off independent retailers and punish consumers by forcing small businesses out of popular online stores, raising prices and reducing consumer choice."

Amazon's online marketplace has come under increasing scrutiny over how it treats sellers, gathers data from such sellers and launches competing products.

In 2012, the U.S. Justice Department alleged in an antitrust lawsuit that Apple along with five major publishers had worked together to raise prices of digital books. The publishers settled but Apple went to trial and lost.

Connecticut probes Amazon's digital books business for anti-competitive behavior
 

Related Articles

Asia shares step back, await China economic update
Asia shares step back, await China economic update By Reuters - Jan 17, 2021

By Wayne Cole SYDNEY (Reuters) - Asian share markets retreated from highs on Monday as disappointing news on U.S. consumer spending tempered risk sentiment ahead of a...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email