Magnite issued its newest monetary outcomes yesterday, revealing that it generated greater than $173 million in income, a 6% improve 12 months over 12 months, in the course of the three months ended June 30.
Nonetheless, it was Magnite CEO Michael Barrett’s sudden remarks about what might occur in 2026, given developments of the continued Google antitrust trial, the one the place its advert server and supply-side platform are within the dock, which precipitated traders’ ears to perk up.
Understandably, for an viewers of Wall Avenue equities analysts, the corporate was wanting to champion its market positioning, notably in CTV, as a consequence of its modular product stack, though it was an announcement paying homage to its roots in programmatic show promoting that stood out.
Barrett mentioned the uncertainty across the influence of Google’s authorized points and civil damages, stating that they’re monitoring the scenario carefully, notably because the cures part of its advert tech trial commences subsequent month.
In a ready assertion, Barrett famous that if presiding Decide Brinkema ought to rule in favor of any behavioral modifications in how Google’s advert stack operates, except for any structural cures, that is more likely to show a boon for Magnite.
“When the cures are put forth, we’ll most likely have a stronger opinion,” he instructed the assembled listeners. “And because it pertains to any attainable litigation and a civil motion, I’ll simply stick to the verbiage that we used within the script that we’re taking a look at, and we predict there’s plenty of benefit there.”
Additionally on the decision was Magnite’s chief authorized officer Aaron Slatz, who famous that “we are able to’t actually remark any additional on timing or particular intentions, apart from we’re clearly contemplating all of our choices, and we do suppose there’s plenty of benefit.”
Any such authorized motion would convey Magnite in step with a number of others, together with writer Gannett which filed a case in opposition to Google in 2023, in addition to its fellow SSP OpenX.
Earlier this week, OpenX filed a federal antitrust lawsuit in opposition to Google, equally accusing the tech big of abusing its dominance in digital promoting by way of a decade-long sample of self-preferencing and anti-competitive conduct.
Filed in the identical Virginia court docket overseeing the DOJ’s advert tech case, i.e., the Japanese District of Virginia, the swimsuit claims Google tied entry to advertiser demand on AdX to its advert server DoubleClick For Publishers, manipulated auctions, and suppressed rival SSPs from competing pretty for advert impressions.
Talking subsequently with Digiday, OpenX CEO alleged this conduct precipitated direct enterprise hurt and is searching for damages and structural cures. Whereas Digiday was unable to contact a Google spokesperson by press time, the corporate’s protection group has earlier outlined its rebuttals of comparable expenses made by the DOJ.
The timeline for any potential developments is unclear.
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