News Corp seems to be bent on destroying the internet giant and the most popular search engine around the world. The press will and always has been biased against Google Inc. (NASDAQ:GOOG) but News Corp seems out of touch with reality and has decided that everything bad that ever happens is because of Google! Last week intense lobbying took place with News Corp at its head trying to convince Joaquin Almunia, the EU Competition Commission of Google’s many evils.
The EU Competition Commission has fined Google a huge amount of a billion dollars after four years of intense investigation due to alleged anti-competitive search practices. However the News Corp believes that it is something which Google can pay off without blinking an eyelid and should be treated much more strictly and this settlement should be made null and void. Once the settlement money is accepted and the settlement completed, it will hold for a good long five years which is an eternity in the technology world.
Using eloquent old English which one comes across in works of fiction, Robert Thompson, News Corps Chief Executive Officer described Google Inc. as a ‘platform for piracy’ and that the ‘shining vision’ of Google’s founders has been distorted and now it is responsible for extremism in Europe. Really? Well you can’t expect any less from somebody who is representing a publishing company who used degrading language for the EU Competition Commission President on its front page. Not only that, but an ex-editor of the company has been jailed because he was caught illegally listening to phone conversations.
News Corp surely will not get votes when they blame Google for anything and everything under the sun. Their attack should be much more focused and their analysis based on facts. If this attack is an antic to get more users to read newspapers again, published by this company, then surely News Corps agenda is a lost cause – it is hard to replace technology. They need to think of new and innovative ways to grow and boost their profit; the industry has become much more complex and has offered growth to many news players who have decided to change with the industry and ride the internet wave.
But one should salute News Corps drive in trying to bring down a giant whose mere size and influence scares almost everybody. However, such a haphazard attack on an organization that is literally the big brother of the internet world is not a very smart move. Surely a so-called giant of yesteryear, News Corp, should have had better sense than to get lost in news clutter; it has come to a point where it has to accuse bigger corporations to get noticed.
Google Inc. (NASDAQ:GOOGL) stock opened up today at a value of $595.00 and at 2:21 pm EDT the stock was trading at $590.81. It seems the tech giant’s stock has taken a bit of a hit because of all the controversies that surfaced in the recent past. Stock’s range over 52 weeks remained between 422.16 and 615.42 where as its inst. Ownership is 79% with a market cap of 399.44 B.
