Google a Potential FTC Antitrust Target? (GOOG)

Bloomberg reported on Monday, citing two people familiar with the matter, that the FTC is considering an antitrust investigation into tech juggernaut Google GOOG. According to the report, "Before proceeding with any probe, the FTC is awaiting a decision by the Justice Department on whether it will challenge Google's planned acquisition of ITA Software Inc. as a threat to competition in the travel-information search business, said the people, who spoke on condition of anonymity because the matter is still confidential." The tech start-up now faces something it had previously poked fun at Microsoft MSFT for: an antitrust investigation. It has grown dramatically in the last decade through acquisitions, search-engine dominance, and advertising revenue. The Bloomberg report notes that "Google is facing growing scrutiny from regulators as it bolsters its search business. Officials in Texas and the European Commission have started investigations into Google's search dominance, while Ohio Attorney General Mike DeWine is considering such a probe." Shares of Google closed Monday at $587.68, down $4.12. The Justice Department is expected to announce its ruling on the whether it will challenge the company's acquisition of ITA Software Inc. Indeed, Bloomberg's Jeff Bliss and Sara Forden point out that "The FTC and Justice Department share responsibility for oversight of antitrust enforcement, and the outcome of the ITA deal may determine whether the two agencies will vie for control of a broader probe of Google, the people said. The two agencies sometimes negotiate which will handle major antitrust investigations, with the decision turning on their respective expertise."