- The Federal Trade Commission filed a proposed consent order to settle antitrust charges against Broadcom Inc (NASDAQ:AVGO). It requires Broadcom to stop forcing customers to buy components mostly or only from Broadcom.
- Earlier, the FTC blamed Broadcom for illicitly controlling the market for semiconductor components that deliver television and broadband internet.
- Broadcom had allegedly maintained monopoly power through long-term agreements with at least ten original equipment manufacturers of set-top boxes and broadband devices.
- The contracts reportedly prevented those OEMs from buying chips from the company’s rivals.
- Broadcom also forged similar deals with major service providers.
- The FTC voted unanimously to file charges against the company. It also voted to accept a proposed consent order for public comment.
- The proposed agreement will prohibit Broadcom from exclusivity contracts with specific customers. It will also require the company not to condition access to chips on exclusivity deals.
- Price action: AVGO shares traded lower by 0.48% at $467.42 on the last check Friday.
Bitfarms Says CEO Promotion Marks New Era Of Growth, Expansion For Bitcoin Miner
Bitcoin (CRYPTO: BTC) mining company Bitfarms (NASDAQ: BITF) on Thursday announced the promotion of Geoffrey Morphy to the position of president and chief executive officer, effective immediately.
