By 2020 it has been estimated that 71 per cent of the money spent on digital advertising in the UK will go to Google and Facebook.
The same pattern is being seen all over the world.
We are concerned that your commercial dominance will drive news publishers who increasingly rely on digital advertising out of business.
This will be bad for you (because you will no longer be able to use their content) and bad for society because we will all be less well informed.
We are also concerned that your platforms are not doing enough to tackle deliberately fabricated fake news and misleading advertising. Both have the potential to undermine democracy.
We urge you to return a fair share of the advertising revenue earned by your companies from journalism to those who originate the content.
With so many people now relying on Google and Facebook to find their news, we also urge you to take action to ensure your users are not deceived by fake news content.