Google wins appeal against EU antitrust fine; Very Media Group launches; Tortoise Media in talks to buy The Observer

Today’s news: Google wins appeal against EU antitrust fine; Very Media Group launches; Tortoise Media in talks to buy The Observer

Google has won an appeal against an EU antitrust fine, formally rejecting a €1.5bn (£1.26bn) payment. The European Union’s general court overturned the fine on Wednesday despite saying it accepted most of the assessments made by the European Commission (EC) – the EU’s executive arm – of Google’s practices of blocking rival advertisers. The case was launched in 2019 and accused the tech giant of imposing anti-competitive restrictions on third-party websites between 2006 and 2016. The court has now found that the EC failed to take into account “all the relevant circumstances in its assessment of the duration of the contractual clauses it found to be unfair”. Following the general court’s decision, the EC said it would consider its next steps; a further appeal by the EC is possible.

Turning our attention to the UK retail media landscape, The Very Group has announced the launch of Very Media Group. The Group is ‘reimagining’ its retail media proposition in partnership with independent retail media operator SMG. This follows a twelve-year partnership between the two parties. With over four million active customers, Very Media Group outlines its intention to become the retail media network of choice for brands, enabling them to connect with Very’s audiences at scale. The Group is in a strong position to have a wealth of data, including personal, shopping and financial data.

Finally, Tortoise Media – a slow-burning outlet launched in 2019 – is in talks with Guardian Media Group in hopes of buying its sister publication Observerthe oldest Sunday newspaper in the world. ObserverUser Content is currently published on the Internet at The guard. Formal and exclusive negotiations have begun. Tortoise plans to invest over £25 million in the publication over the next five years to develop it both editorially and commercially. If the sale is agreed, Tortoise intends to publish Observer every Sunday, and we also create a digital version of the publication that can be combined with your own podcasts, newsletters and live events.

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