<p><strong>美国弗吉尼亚东区地方法院的莱昂尼·M·布林克马法官周五花费了大量时间听取关于谷歌广告技术垄断的修正提案的结案陈词。她表示，她可能会在 2026 年作出裁决。</strong></p>
<p>然而，她对强制出售该科技公司的广告交易平台表示担忧，认为这可能会拖延，甚至质疑是否有可行的竞标者准备介入。</p>
<p>“时间至关重要。我对这一切的时机感到担忧，” 她说，并指出如果谷歌对她的裁决提出挑战，可能会延缓任何出售。而她补充道，行为命令可以立即执行。</p>
<h3>谷歌建议法院施加行为限制</h3>
<p>由司法部与多个州组成的联盟提起的诉讼声称，谷歌主导了整个在网站上投放广告的系统。</p>
<p>每当网页加载时，谷歌会为广告位进行拍卖，每秒处理 820 万次请求。政府声称，该公司利用其在这一领域的主导地位，获取更大份额的交易。布林克马法官在四月份裁定谷歌垄断了出版商的工具和交易软件，但进一步指出，政府尚未能证明谷歌在广告购买工具方面的垄断。</p>
<p>然而，司法部已要求布林克马法官强制谷歌剥离其广告交易技术，并提供特定数据——例如出版商用来出售广告的工具代码。与此同时，谷歌提出了一个更为狭窄的修正方案。它建议对其运营的某些方面进行调整，以帮助实现公平竞争。它还提议与出版商分享更多的拍卖数据，并使其平台与竞争对手的工具更兼容。</p>
<p>法官在过去几个月里一直在听取双方提案的论据。在五月的听证会上，她询问强制谷歌剥离广告交易平台是否能解决垄断问题。</p>
<p>但在九月份，她试图确定法院命令的行为限制是否足够。她还在周五的听证会上询问了政府推荐的剥离持续时间。对此，司法部律师马修·哈普特表示，他们将推动迅速上诉，出售可能在 15 个月内进行。</p>
<p>她还担心司法部没有找到潜在买家，并表示像微软这样的公司可能会产生自己的反垄断问题。尽管如此，她表示，在下次裁决中，她将不得不解决是否应强制拆分的核心问题。如果她强制拆分，这将是数字时代的首次。</p>
<p>彭博情报反垄断专家贾斯廷·特雷西在审查听证会后表示，强制剥离似乎不太可能；然而，他指出，法官可能会施加比谷歌建议的更多行为补救措施。</p>
<h3>梅赫塔法官裁定反对 Chrome 浏览器剥离</h3>
<p>今年早些时候，谷歌在一起与其搜索垄断相关的反垄断诉讼中获得了缓解，法院拒绝了剥离其 Chrome 浏览器的请求。</p>
<p>法院选择了一些数据共享修改和其他小调整，导致该公司获胜。在其 223 页的裁决中，梅赫塔法官要求谷歌向 “合格竞争对手” 提供特定的搜索数据，这与司法部要求的更广泛共享命令相悖。</p>
<p>法官还限制了谷歌为确保其搜索引擎在浏览器和智能手机上获得顶级位置而支付的费用。尽管他并没有完全禁止这些支付，但他拒绝了强制剥离 Chrome 的请求。</p>
<p>美国政府最近一直在打击科技公司，作为遏制其权力的一部分。虽然最初在诉讼中取得了重大胜利，但最近面临了一些挫折。例如，本周，法院裁定 Meta 并未通过收购 Instagram 和 WhatsApp 非法压制竞争。</p>
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谷歌-C

谷歌-A

1 倍做空谷歌 ETF - Direxion

2 倍做多谷歌 ETF - Direxion

<p>布林凯马法官正在考虑是否要求谷歌剥离其广告交易平台，原因是反垄断问题。她对这种剥离的时机和可行性表示担忧，并质疑是否有合适的竞标者可供选择。美国司法部寻求迅速上诉，而谷歌则提出行为限制。法官的裁决预计将在 2026 年作出，将决定是否有必要进行拆分，这将是数字时代的一项重要决定</p>

<p><strong>Judge Leonie M. Brinkema of the U.S. District Court for the Eastern District of Virginia spent much of Friday hearing closing arguments on proposed fixes to Google’s ad-tech monopoly. She signaled that she’ll likely hand down her ruling in 2026.</strong></p>
<div class="lb-trans"><p><strong>美国弗吉尼亚东区地方法院的莱昂尼·M·布林克马法官周五花费了大量时间听取关于谷歌广告技术垄断的修正提案的结案陈词。她表示，她可能会在 2026 年作出裁决。</strong></p>
</div><p>However, she voiced concern that a mandatory sale of the tech company’s ad exchange might drag on and even questioned whether there are viable bidders ready to step in.</p>
<div class="lb-trans"><p>然而，她对强制出售该科技公司的广告交易平台表示担忧，认为这可能会拖延，甚至质疑是否有可行的竞标者准备介入。</p>
</div><p>“Time is of the essence. I am concerned about the timing of all this,” she said, noting that if Google challenges her ruling, it could slow down any sale. Whereas a conduct order, she added, could be enforced right away.</p>
<div class="lb-trans"><p>“时间至关重要。我对这一切的时机感到担忧，” 她说，并指出如果谷歌对她的裁决提出挑战，可能会延缓任何出售。而她补充道，行为命令可以立即执行。</p>
</div><h3>Google suggested the court impose behavioral limits</h3>
<div class="lb-trans"><h3>谷歌建议法院施加行为限制</h3>
</div><p>The lawsuit, brought by the Department of Justice, together with a coalition of states, asserts that Google dominates the entire system that serves ads on websites.</p>
<div class="lb-trans"><p>由司法部与多个州组成的联盟提起的诉讼声称，谷歌主导了整个在网站上投放广告的系统。</p>
</div><p>Each time a web page loads, Google runs an auction for the ad space, processing 8.2 million requests per second. The government claims that the company exploits its dominance in this field to capture a larger share of the transactions. Judge Brinkema in April had ruled that Google had monopolized publishers’ tools and transaction software, but made the further distinction that the government couldn’t yet prove Google’s monopoly on ad-buying tools for advertisers.</p>
<div class="lb-trans"><p>每当网页加载时，谷歌会为广告位进行拍卖，每秒处理 820 万次请求。政府声称，该公司利用其在这一领域的主导地位，获取更大份额的交易。布林克马法官在四月份裁定谷歌垄断了出版商的工具和交易软件，但进一步指出，政府尚未能证明谷歌在广告购买工具方面的垄断。</p>
</div><p>The Department of Justice, however, has asked Judge Brinkema to compel Google to divest its ad-exchange technology and provide specific data—such as the code for the tools publishers use to sell ads. Google, meanwhile, has proposed a much narrower fix. It proposed changes to certain aspects of its operations to help level the playing field. It also offered to share more auction data with publishers and make its platform more compatible with rival tools.</p>
<div class="lb-trans"><p>然而，司法部已要求布林克马法官强制谷歌剥离其广告交易技术，并提供特定数据——例如出版商用来出售广告的工具代码。与此同时，谷歌提出了一个更为狭窄的修正方案。它建议对其运营的某些方面进行调整，以帮助实现公平竞争。它还提议与出版商分享更多的拍卖数据，并使其平台与竞争对手的工具更兼容。</p>
</div><p>The judge has been listening to arguments on both proposals over the past few months. At a May hearing, she inquired whether forcing Google to divest its ad exchange would address the issue of monopoly.</p>
<div class="lb-trans"><p>法官在过去几个月里一直在听取双方提案的论据。在五月的听证会上，她询问强制谷歌剥离广告交易平台是否能解决垄断问题。</p>
</div><p>But in September, she sought to determine whether court-ordered behavioral limits would be sufficient. She also inquired during the Friday hearing about the duration of the divestiture recommended by the government. To which, DOJ lawyer Matthew Huppert said that they would be pushing for a swift appeal, and the sale could take place within 15 months.</p>
<div class="lb-trans"><p>但在九月份，她试图确定法院命令的行为限制是否足够。她还在周五的听证会上询问了政府推荐的剥离持续时间。对此，司法部律师马修·哈普特表示，他们将推动迅速上诉，出售可能在 15 个月内进行。</p>
</div><p>She was also concerned that the DOJ had not found a potential buyer, and said that a company like Microsoft could create its own antitrust problems. Still, she said, in her next ruling, she will have to address the central question of whether a breakup should be mandated. If she mandates a breakup, it would be the first of its kind in this digital age.</p>
<div class="lb-trans"><p>她还担心司法部没有找到潜在买家，并表示像微软这样的公司可能会产生自己的反垄断问题。尽管如此，她表示，在下次裁决中，她将不得不解决是否应强制拆分的核心问题。如果她强制拆分，这将是数字时代的首次。</p>
</div><p>Bloomberg Intelligence antitrust expert Justin Teresi, after reviewing the hearing, however, said that a forced divestiture seems improbable; he noted, however, that the judge may impose more behavioral remedies than Google suggested.</p>
<div class="lb-trans"><p>彭博情报反垄断专家贾斯廷·特雷西在审查听证会后表示，强制剥离似乎不太可能；然而，他指出，法官可能会施加比谷歌建议的更多行为补救措施。</p>
</div><h3>Judge Mehta ruled against the Chrome browser divestiture</h3>
<div class="lb-trans"><h3>梅赫塔法官裁定反对 Chrome 浏览器剥离</h3>
</div><p>Earlier this year, Google received a reprieve when a court rejected calls to divest its Chrome browser in a separate antitrust lawsuit related to its search monopoly.</p>
<div class="lb-trans"><p>今年早些时候，谷歌在一起与其搜索垄断相关的反垄断诉讼中获得了缓解，法院拒绝了剥离其 Chrome 浏览器的请求。</p>
</div><p>The court opted for some data-sharing modifications and other minor adjustments, resulting in a win for the company. In his 223-page ruling, Judge Mehta required Google to give select search data to “qualified competitors,” contrary to the DOJ’s request for a broader sharing mandate.</p>
<div class="lb-trans"><p>法院选择了一些数据共享修改和其他小调整，导致该公司获胜。在其 223 页的裁决中，梅赫塔法官要求谷歌向 “合格竞争对手” 提供特定的搜索数据，这与司法部要求的更广泛共享命令相悖。</p>
</div><p>The judge also limited the payments Google makes to secure top placement for its search engine in browsers and on smartphones. Though he did not ban the payments completely, he rejected the request to force a Chrome divestiture.</p>
<div class="lb-trans"><p>法官还限制了谷歌为确保其搜索引擎在浏览器和智能手机上获得顶级位置而支付的费用。尽管他并没有完全禁止这些支付，但他拒绝了强制剥离 Chrome 的请求。</p>
</div><p>The U.S. government has recently been cracking down on tech companies as part of an effort to curb their power. While it initially scored major victories in its lawsuits, it has faced several setbacks more recently. For instance, this week, a court ruled that Meta did not unlawfully suppress competition by buying Instagram and WhatsApp.</p>
<div class="lb-trans"><p>美国政府最近一直在打击科技公司，作为遏制其权力的一部分。虽然最初在诉讼中取得了重大胜利，但最近面临了一些挫折。例如，本周，法院裁定 Meta 并未通过收购 Instagram 和 WhatsApp 非法压制竞争。</p>
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</div>

Judge expresses caution over dismantling Google’s advertising operations

- 美国弗吉尼亚东区地方法院法官 Leonie M. Brinkema 听取了关于谷歌广告技术垄断的结案陈词。  
- 她表示可能在 2026 年作出裁决，并对强制出售谷歌广告交易所的可行性表示担忧。  
- 司法部要求谷歌剥离其广告交易技术，而谷歌则提议进行更小范围的运营调整。  

法官对拆分谷歌广告业务持谨慎态度