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Transactional
Getty Drops $3.7 Billion Shutterstock Deal After U.K. Divestiture Demand
Getty Images and Shutterstock have terminated their proposed $3.7 billion merger after the U.K. Competition and Markets Authority required the sale of Shutterstock’s editorial business as a condition of approval. Getty’s board voted unanimously to abandon the transaction rather than proceed with the divestiture, according to a filing with the U.S. Securities and Exchange Commission...
Litigation
Google Exhausts Legal Options as EU Court Upholds $4.7B Fine
Europe’s top court delivered a final legal defeat to Google by upholding a 4.1 billion euro antitrust penalty over Android mobile operating system dominance, CNBC reported. The European Court of Justice dismissed the final appeal from Google and parent company Alphabet, ending a decade-long regulatory battle with no further avenue for legal recourse. Regulators originally issued the record-breaking penalty after finding that the technology firm used pre-installation agreements with smartphone manufacturers to suppress competition and give its own applications an unfair market advantage...
Policy
FTC Proposes Policy on Undisclosed Manipulation of AI Outputs
The Federal Trade Commission has opened a public comment period on a proposed policy statement examining whether AI companies could violate federal consumer protection law by altering model outputs in ways that conflict with their claims about accuracy and objectivity. Approved by a 2-0 commission vote, the proposal says undisclosed efforts to shape AI responses around ideological goals may constitute unfair or deceptive conduct under Section 5 of the FTC Act...
Features
Getty Drops $3.7 Billion Shutterstock Deal After U.K. Divestiture Demand
Getty Images and Shutterstock have terminated their proposed $3.7 billion merger after the U.K. Competition and Markets Authority required the sale of Shutterstock’s editorial business as a condition of approval. Getty’s board voted unanimously to abandon the transaction rather than proceed with the divestiture, according to a filing with the U.S. Securities and Exchange Commission...
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