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Bipartisan Bill Would Stop Big Tech Gobbling Up Competitors

WASHINGTON, D.C. – U.S. Sens. Amy Klobuchar (D-Minn.) and Tom Cotton (R-Ark.) today introduced bipartisan legislation to rein-in Big Tech monopolies. The Platform Competition and Opportunity Act would stop the most problematic mergers and acquisitions, preventing Big Tech companies gobbling up existing, potential, or nascent competitors to enhance or maintain their market power. Alex Harman, competition policy advocate for Public Citizen, released the following statement:

“Big Tech monopolies have shamelessly gobbled up hundreds of potential competitors over the last decade. Even when faced with historic antitrust enforcement, they have continued to pursue anticompetitive acquisitions. The answer is to make clear that predatory behavior – like Facebook’s acquisitions of Instagram and WhatsApp – will no longer be tolerated. This legislation will do just that and is an important step towards reining in the power of these companies that believe they should be above the law. We are encouraged by the bipartisan interest in this important issue and appreciate the leadership of Sen. Klobuchar to take on the Big Tech monopolies.”