A high-profile antitrust hearing featuring the CEOs of Amazon (AMZN) - Get Report, Apple (AAPL) - Get Report, Facebook (FB) - Get Report and Alphabet-owned Google (GOOGL) - Get Report scheduled for Monday has officially been postponed due to a conflict with the memorial service for the late Rep. John Lewis, D-Ga. No new date for the hearing and testimony has yet been set.
The hearing, which CNBC had reported earlier in the day would likely be delayed, will feature appearances from Amazon CEO Jeff Bezos, Apple CEO Tim Cook, Facebook CEO Mark Zuckerberg and Google CEO Sundar Pichai. It will be the first time that all four will be testifying before Congress at the same time, and the first time that Bezos will be appearing before Congress at all.
The highly anticipated hearing will kick off a more than year-long investigation into the four tech giants and whether any of them have used their market dominance to stifle competition within their respective digital markets.
Lawmakers intend to issue a report based on their findings throughout the investigation and propose legislation that would aim to bring antitrust laws up to date to be responsive to issues unique to digital marketplaces.
The investigation is far-reaching and could be a pivotal moment in a broader backlash against the power and reach of U.S. tech giants.
The upcoming testimony is also hotly anticipated as the Justice Department is preparing a possible antitrust suit against Google, while both Amazon and Facebook are the subject of ongoing Federal Trade Commission investigations.
Shares of Amazon rose 0.8% to $3,008.91 in trading on Friday, while shares of Apple were down 0.3% at $370.46. Facebook was down 0.8% at $230.71 and shares of Alphabet were down 0.6% at $1,508.21.