Dodging the Penalty: AOM's Star-Studded Line-Up Breathe Easy as EU Antitrust Inquiry Closes

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 GOOGL GOOG unit Google, Amazon.com Inc AMZN, Apple Inc AAPL and Meta Platforms 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.
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"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 NFLX, Broadcom Inc AVGO, Cisco Systems CSCO, Tencent Holdings ADR TCEHY, Intel Corporation INTC, Huawei, Mozilla, Samsung SSNLF and Nvidia Corporation NVDA.
Price Action: GOOG shares are trading lower by 0.79% at $124.87 on Tuesday.