Google parent Alphabet Inc. (GOOGL) - Get Alphabet Inc. Class A Report shares fell more than 1% in early trading Friday amid reports that CBS's (CBS) - Get CBS Corporation Class B Report flagship news program, 60 Mintues, is preparing a feature on global online advertizing giant.
Sixty Minutes said it would air a segment on Sunday May 20 titled "The Power of Google" that will focus on "its critics who say the company has stifled competition, and an antitrust enforcer who is taking action."
Google share were marked 1.1% lower from their Thursday close at the opening bell on Wall Street and changing hands $1,068.00 each at 9:33 am eastern time.
Alphabet Google division was fined a record €2.42 billion ($2.7 billion) by the European Commission last June for abusing its dominance as a search engine by giving itself an advantage in comparison shopping services. The company appealed the decision in September.
"What Google has done is illegal under EU antitrust rules," said Competition Commissioner Margrethe Vestager. "It denied other companies the chance to compete on the merits and to innovate. And most importantly, it denied European consumers a genuine choice of services and the full benefits of innovation."
"Google has come up with many innovative products and services that have made a difference to our lives," Vestager added. "That's a good thing. But Google's strategy for its comparison shopping service wasn't just about attracting customers by making its product better than those of its rivals."
"Instead, Google abused its market dominance as a search engine by promoting its own comparison shopping service in its search results, and demoting those of competitors," her statement read.