US EditionLandmark Antitrust Trial Against Meta Begins in Washington, DC
- Meta Platforms Inc. Is undergoing an antitrust trial that could require it to divest Instagram and WhatsApp, which it acquired over a decade ago for significant sums to reduce competition.
- The Federal Trade Commission claims that Meta broke antitrust laws by acquiring Instagram and WhatsApp to create an illegal monopoly, as stated in their lawsuit filed in 2020.
- Judge James Boasberg is presiding over the case, which could reshape U.S. Antitrust regulations as it explores the applicability of current laws in a digital market context.
- Meta argues it faces substantial competition from platforms like TikTok and Snap and contends that the acquisitions were approved by regulators at the time.
393 Articles
393 Articles
Meta and the FTC face off in court over monopoly claims
Meta CEO Mark Zuckerberg defended his social media platform on Monday before a federal judge in the U.S. government’s blockbuster case against the tech giant, which opened on Monday.The Federal Trade Commission is arguing that Meta has abused its power and acted as a monopoly by acquiring rivals in order to defang them as competitors.Over about three hours of testimony, Zuckerberg spoke about the early days of Facebook, the threat now-defunct My…
Will Meta have to give up Instagram? A huge antitrust trial looks to upend social media.
If the government gets its way, it could force a breakup of the social-media giant. One analyst asks: “Without Instagram and WhatsApp, what really is Meta?” Article Attribution | Read More at Article Source The post Will Meta have to give up Instagram? A huge antitrust trial looks to upend social media. appeared first on RocketNews.
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