"A US district judge in Washington has ruled that Facebook-parent Meta Platforms did not violate antitrust laws with its acquisitions of photo-sharing app Instagram and messaging service WhatsApp more than a decade ago. The decision hands a defeat to the Federal Trade Commission, the US antitrust watchdog, which sued Meta in 2020 claiming the company secured a monopoly in social media by purchasing its rivals."
"In April, Judge Boasberg presided over a lengthy bench trial that featured testimony from Meta CEO Mark Zuckerberg and former Chief Operating Officer Sheryl Sandberg who argued that TikTok and YouTube had shaken up the social media landscape. In his decision, Judge Boasberg noted that the FTC reviewed and approved of Meta's 2012 acquisition of Instagram and the 2014 acquisition of WhatsApp. The agency had argued the company overpaid when it purchased Instagram for $1 billion and WhatsApp for $19 billion."
Judge James Boasberg ruled that Meta Platforms did not violate antitrust laws with its acquisitions of Instagram and WhatsApp, finding the FTC failed to carry its burden to prove a monopoly in the relevant market. The decision rejects the Federal Trade Commission's 2020 claim that Meta secured a social media monopoly by buying rivals. The judge noted the FTC had previously reviewed and approved both acquisitions. Testimony at a bench trial included Mark Zuckerberg and Sheryl Sandberg, who emphasized competition from TikTok and YouTube. Boasberg described social media as constantly changing and said Meta's market share appears to be shrinking. The FTC said it was reviewing options regarding appeal.
Read at www.bbc.com
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