FTAC Athena Acquisition Corp
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Company profile

FTAC Athena Acquisition Corp. is a blank check company. The Company is formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company has not commenced any business operations. The Company has not generated any revenue.

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Spotify launches new attack on Apple for 'abusive behaviors'

8:36 am ET January 19, 2023 (MarketWatch)

By Jon Swartz

Music-streaming service and seven other companies ask European Commission to take action against Apple for what they say are anticompetitive practices

Spotify Technology's years-long jihad against Apple Inc. took another turn Wednesday, when the music-streaming service and a gang of European companies urged the European Commission to take "swift and decisive action" against the iPhone maker over what they claim are anticompetitive practices that have hindered their businesses.

The letter, signed by Spotify (SPOT), Basecamp, Deezer and five other companies, accuses Apple's (AAPL) App Store of creating "artificial obstacles," charging "excessive" fees and making "capricious changes" to store rules.

"[The European Union] must act fast as every day that passes is a loss for innovation and for the welfare of European consumers," the companies wrote. "The time has come for urgent action from the EU to end Apple's abusive behaviours."

Spotify launched its legal attack on Apple in 2019 with an antitrust complaint in Europe that alleges Apple's rules stifled innovation and harmed consumers through commission fees of up to 30%. The European Commission sided with Spotify in its initial findings in 2021 but has yet to conclude its investigation or require changes from Apple.

Apple did not immediately respond to a request for comment.

Spotify's latest salvo comes as the EU's Digital Markets Act would likely designate Apple as a "gatekeeper" and would require the App Store to give more flexibility to third parties such as Spotify. Apple reportedly plans to adhere to the DMA and allow third-party app stores as well as sideloading on Apple's operating system.

-Jon Swartz


(END) Dow Jones Newswires

January 19, 2023 08:36 ET (13:36 GMT)

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