FTCのGoogle社によるDoubleClick社買収承認報告


URL(http://ftc.gov/opa/2007/12/googledc.shtm)

Federal Trade Commission Closes Google/DoubleClick Investigation
Proposed Acquisition ''Unlikely to Substantially Lessen Competition''

The Federal Trade Commission today announced that it will not seek to block Google Inc.'s proposed $3.1 billion acquisition of Internet advertising server DoubleClick Inc. In a 4-1 vote to close its eight-month investigation of the transaction, the Commission wrote in its majority statement that ''after carefully reviewing the evidence, we have concluded that Google's proposed acquisition of DoubleClick is unlikely to substantially lessen competition.''

Although interested parties have raised concerns about the proposed acquisition's impact on consumer privacy, the Commission observed that such issues are ''not unique to Google and DoubleClick,'' and ''extend to the entire online advertising marketplace.'' The Commissioners further wrote that ''as the sole purpose of federal antitrust review of mergers and acquisitions is to identify and remedy transactions that harm competition,'' the FTC lacks the legal authority to block the transaction on grounds, or require conditions to this transaction, that do not relate to antitrust. Adding, however, that it takes consumer privacy issues very seriously, the Commission cross-referenced its release of a set of proposed behavioral marketing principles that were also announced today.

The Commission statement, authored by Chairman Deborah Platt Majoras and Commissioners Jon Leibowitz, William E. Kovacic and J. Thomas Rosch, focused on the agency's antitrust review of the proposed acquisition, which, as in all horizontal merger investigations, was based on the standards set forth in the joint FTC/Department of Justice Horizontal Merger Guidelines. Applying these guidelines, as well as Commission policy and case law in evaluating non-horizontal theories, agency staff analyzed three principal theories of potential competitive harm. First, it sought to determine whether Google's acquisition of DoubleClick threatened to eliminate direct and substantial competition between the two companies. Its thorough analysis of the evidence showed that the companies are not direct competitors in any relevant antitrust market, eliminating the need for further analysis.

Next, because mergers and acquisitions may also eliminate beneficial potential competition, the agency examined the implications of Google's continuing efforts to enter the third party ad serving markets. If these efforts had the potential to eliminate a competitor that was uniquely positioned to have a pro-competitive effect on these markets, that would raise antitrust concerns. The agency's evidence, however, showed that current competition among firms in this market is vigorous, and will likely increase. The evidence also indicates that Google's entry, even if it were to be successful, likely would not have a significant impact on competition. Therefore, the elimination of potential competition also did not raise antitrust concerns.

Finally, the agency evaluated whether Google's acquisition of DoubleClick could harm competition by allowing Google to exploit DoubleClick's position in the third party ad serving markets to the benefit of Google's ad intermediation product, AdSense. In some instances, according to the Commission, a proposed transaction may allow a dominant seller of one product to harm competition in the market for a related complementary product, for example, by exclusively bundling or otherwise tying together its product with the acquired firm's product after the acquisition. Such a strategy, however, can only be anticompetitive if the merged firm has market power.

As explained in the Commission's statement, because the evidence failed to show that DoubleClick has market power in the third party ad serving markets, it is unlikely that Google could effectively foreclose competition in the related ad intermediation market following the acquisition. The evidence also showed that it was unlikely that Google could manipulate DoubleClick's third-party ad serving products in a way that would competitively disadvantage Google's competitors in the ad intermediation market. Further, the evidence demonstrated that any aggregation of consumer and competitive data resulting from the acquisition is unlikely to harm competition in the ad intermediation market. These factors resolved any competitive concerns related to these markets.

The statement concluded, however, ''The markets within the online advertising space continue to quickly evolve, and predicting their future course is not a simple task. Accounting for the dynamic nature of an industry requires solid grounding in facts and the careful application of tested antitrust analysis. Because the evidence did not support the theories of potential competitive harm, there was no basis on which to seek to impose conditions on this merger. We want to be clear, however, that we will closely watch these markets and, should Google engage in unlawful tying or other anticompetitive conduct, the Commission intends to act quickly.''

The Commission vote to close the investigation was 4-1, with Commissioner Pamela Jones Harbour voting no and issuing a separate dissenting statement and Commissioner Jon Leibowitz joining the Commission statement, but also issuing a separate concurring statement. In his statement, he noted ''both the serious vertical competition issues raised by Google's proposed acquisition of DoubleClick as well as the substantial privacy issues that, though in part brought to light by the deal, clearly transcend it.'' In her statement, Commissioner Harbour wrote, ''I dissent because I make alternate predictions about where this market is heading, and the transformative role the combined Google/DoubleClick will play if the proposed acquisition is consummated.''

Copies of the statements and the newly issued self-regulatory privacy principles can be found at www.ftc.gov. The FTC's Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to antitrust@ftc.gov, or write to the Office of Policy and Coordination, Room 394, Bureau of Competition, Federal Trade Commission, 600 Pennsylvania Ave, N.W., Washington, DC 20580. To learn more about the Bureau of Competition, read ''Competition Counts'' at http://www.ftc.gov/competitioncounts.

MEDIA CONTACT:
Office of Public Affairs
202-326-2180


FTCが2007年12月20日に公開した広告とプライバシー
Google社が2007年9月27日に公開したDoubleClick社買収報告
FTCのGoogle社によるDoubleClick社買収承認プレスリリース
Google社が公開した、FTCのDoubleClick社買収承認報告
ワイヤレス広告配信システム
インターネット広告
インターネット広告/2004年
インターネット広告/2005年
インターネット広告/2006年
インターネット広告/2007年
インターマーシャル
Web2.0
アドワーズ広告
AdSense
AdSense API
巨額な無駄を払い続けるTV広告スポンサー時代の終焉
巨額な無駄を払い続けるTV広告スポンサー時代の終焉/2006年
巨額な無駄を払い続けるTV広告スポンサー時代の終焉/2007年
巨額な無駄を払い続けるTV広告スポンサー時代の終焉/2008年
広告効果戦争の勃発
有料リスティング広告
VRML広告
Java広告
デジタル広告
バナー広告
インターネット専門の広告代理店
FTCの電子メディア広告規制提案
2001年2月26日に公開したバナー広告のガイドライン
乗っ取り型広告
eAds
Trusted Sender
エモーショナル・マーケティング
Jakarta Project
PPCSE(Pay Per Click Search Engine)
ターゲティング広告
ヨーロッパ、オンライン広告の夜明け
Marketing Console
文中広告
壁紙広告
インターネット広告関連URL
Web広告研究会
インターネット広告推進協議会
遺留指紋照会端末装置
指掌紋自動押捺装置
指紋による本人認証
コンピュータ犯罪捜査支援プロジェクト
BAPI
バイオメトリックス
バイオメトリックス・パスポート
国境なき記者団
国民ジャーナリズム
メディア戦争
ASEM(Asia Europe Meeting)
言論の自由
報道の自由の判例
世界・報道の自由の日
報道の自由とプライバシー
虚報
虚報/2004年
虚報/2005年
虚報/2006年
虚報/2007年
スピン・コントロール
情報操作に関連するURL
情報操作
情報操作/2001年
情報操作/2002年
情報操作/2003年-1
情報操作/2003年-2
情報操作/2004年-1
情報操作/2004年-2
情報操作/2004年-3
情報操作/2004年-4
情報操作/2004年-5
情報操作/2004年-6
情報操作/2004年-7
情報操作/2005年-1
情報操作/2006年
情報操作/2007年
アンケートのパラドックス
ネットワーク上のプライバシー侵害問題
テロ捜査とプライバシー
プライバシー保護研究会
プライバシーマーク制度
最高プライバシー責任者
サイバー犯罪の条約とプライバシー
著作権保護とプライバシー保護
プライバシー情報管理システム
電子ネットワーク協議会
ニューメディア開発協会
電子ネットワーク協議会のルール&マナー集
倫理問題に係る自主ガイドライン
電子ネットワーク協議会の倫理綱領
倫理綱領とルール&マナー集の要点
クリッパー・チップ計画
報道の自由とプライバシー
1998年6月4日にFTCが公開したプライバシーの報告書
FTCのインターネット・プライバシーに関する提案
FTCのインターネット・プライバシーに関する提案-1
FTCのインターネット・プライバシーに関する提案-2
FTCのインターネット・プライバシーに関する提案-3
FTCの子供プライバシー保護法案リリース
米国の電子医療情報プライバシー保護法案
米国のネットワーク関係・プライバシー関係の法案
ネット上のプライバシー侵害や名誉毀損、発信者情報開示へのガイドライン