Is Google a Monopoly?

Don't get me wrong... I love google. The simplicity of their search engine, the innovative products and team members, and the general attitude of google is tremendous. But in the age of "Too Big to Fail" I must ask the question: Is Google a monopoly and should it be broken up?

At time of writing, Google has 74% of the search engine market share. 10 years ago, this was not a big deal. But considering that search is becoming the marketing selection of choice, is this too much? The 74% statistic is actually slightly blow the more important statistic: Google has a 76% market share of the search engine advertising market. Considering this is a $21BB market, this is staggering!

Even with Microsoft's and Yahoo's pact, they are really nothing in the large scheme of things. Already, we are seeing a lot of concerns around Google's privacy and data policies. They know more about me than I do! (well, so does my grocery chain with their loyalty card, but I digress). Further, there seems to be a lot of flack around Apple and their App store not allowing in Google Voice (see FCC demands details from Apple around Google Voice article). This should be reversed!

Remember that in the end, Google is about making money from advertising. That's it. Nothing more. In much the same way TV stations, radio stations, newspaper, etc make money from advertising so does google. Rather than buying additional TV stations, Google gathers more information about people's search habits through different products (Froogle, Gmail, Blogger, etc). They are just collating that information and making their algorithms stronger (this is a great feature for advertisers). But if GE (who owns NBC), went out and bought CBS, ABC (who owns Disney and ESPN), Fox and Turnery (CNN, TNT, TBS), leaving only a small number of other channels, wouldnt this be considered a monopoly?