"The FTC said it continues to allege that, for more than a decade, Meta Platforms Inc. has "illegally maintained a monopoly" in social networking through anticompetitive conduct "by buying the significant competitive threats it identified in Instagram and WhatsApp." Meta had prevailed over the existential challenge to its business that could have forced the tech giant to spin off Instagram and WhatsApp after a judge ruled that the company does not hold a monopoly in social networking."
"U.S. District Judge James Boasberg issued his ruling on Nov. 18 after the historic antitrust trial wrapped up in late May. His decision runs in sharp contrast to two separate rulings that branded Google an illegal monopoly in both search and online advertising, dealing regulatory blows to the tech industry that for years enjoyed nearly unbridled growth. In a statement, Meta said the court's decision "to reject the FTC's arguments is correct, and recognizes the fierce competition we face.""
FTC said it will appeal the November ruling that had favored Meta in its antitrust case. The FTC alleges that for more than a decade Meta Platforms Inc. illegally maintained a monopoly in social networking through anticompetitive conduct by buying significant competitive threats identified in Instagram and WhatsApp. A U.S. district judge ruled that Meta does not hold a monopoly in social networking and rejected a remedy that could have forced divestitures of Instagram and WhatsApp. The ruling contrasts with separate court findings that branded Google an illegal monopoly in search and online advertising.
Read at Fast Company
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