"Meta scored a major win Tuesday after a federal judge ruled that it is not a social networking monopoly, shooting down an argument from the US Federal Trade Commission that it should be forced to spin off two of its most popular platforms. The Federal Trade Commission sued Meta in 2020, accusing it of violating antitrust law by acquiring nascent, would-be rivals Instagram and WhatsApp to avoid having to compete with them."
"The seven-week trial in the case saw testimony from a series of prominent figures, including Meta CEO Mark Zuckerberg, who argued that the Menlo Park-based company has plenty of competition from platforms including YouTube and TikTok. Meta holds no monopoly in the relevant market, federal judge James Boasberg wrote in his Tuesday opinion. This is a developing story and will be updated."
A federal judge ruled that Meta is not a social networking monopoly and rejected the FTC's request to force divestiture of Instagram and WhatsApp. The FTC sued Meta in 2020, alleging the company violated antitrust law by acquiring nascent rivals Instagram and WhatsApp to avoid competition. A seven-week trial included testimony from prominent figures, including Meta CEO Mark Zuckerberg, who said Meta faces substantial competition from platforms such as YouTube and TikTok. Judge James Boasberg wrote that Meta holds no monopoly in the relevant market. The legal matter remains active and may see further developments.
Read at www.mercurynews.com
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