- The Alliance for Open Media (AOM) avoided a potential fine following the conclusion of an inquiry into its video licensing policies by EU antitrust investigators.
- AOM's members include Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) unit Google, Amazon.com Inc (NASDAQ:AMZN), Apple Inc (NASDAQ:AAPL) and Meta Platforms (NASDAQ:META).
- Since last year, the European Commission has been investigating suspected anti-competitive behavior linked to the license terms of AOM's new standard streaming software, called AV1, reported Reuters.
- If companies breach EU antitrust laws, they could be fined up to 10% of their global turnover, mentioned the report.
- Also Read: Meta's Invite-Only Ad Access Rules: French Antitrust Watchdog Calls for Transparency and Fairness
- "The Commission decided to close the investigation for priority reasons. The closure is not a finding of compliance or non-compliance of the conduct in question with EU competition rules," added Reuters, citing an email from a spokesperson for the EU.
- Other AOM members include Netflix Inc (NASDAQ:NFLX), Broadcom Inc (NASDAQ:AVGO), Cisco Systems (NASDAQ:CSCO), Tencent Holdings ADR (OTC:TCEHY), Intel Corporation (NASDAQ:INTC), Huawei, Mozilla, Samsung (OTC:SSNLF) and Nvidia Corporation (NASDAQ:NVDA).
- Price Action: GOOG shares are trading lower by 0.79% at $124.87 on Tuesday.
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