Senate Schedules Google, Amazon Antitrust Hearing Featuring Sonos: Reuters

·1 min read
  • Alphabet's Inc's Google (NASDAQ: GOOG) (NASDAQ: GOOG) and Amazon.com Inc's (NASDAQ: AMZN) executives will lead the list of witnesses for a Senate Judiciary Committee's antitrust subcommittee hearing on Tuesday, Reuters reports.

  • The hearing will also include a Sonos Inc (NASDAQ: SONO) executive.

  • Sonos CEO Patrick Spence blamed Google and Amazon in a 2020 congressional testimony for unfairly exploiting the search and online retail businesses to subsidize the smart speaker market and dominate the need for other smart home devices.

  • Amazon manufactures Echo smart speakers and the virtual assistant Alexa. Google produces the Nest series of smart speakers.

  • Associate general counsel Ryan McCrate will speak for Amazon, and public policy specialist Wilson White will appear for Google based on Senators Amy Klobuchar, Panel Chair, and Republican Mike Lee. In addition, Sonos General Counsel Eddie Lazarus will appear.

  • Price action: SONO shares traded higher by 2.03% at $35.14 on the last check Friday.

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