Meta to face FTC trial over Instagram and WhatsApp acquisitions – Reuters
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Chris Ryan
According to a Reuters report, a Washington judge ruled Wednesday that Meta (NASDAQ:META) must face trial in a lawsuit brought by the Federal Trade Commission, which is seeking its breakup, alleging the social media giant bought Instagram and WhatsApp to eliminate emerging competition.
During the Trump administration, the FTC sued Facebook, alleging that the company acted illegally to maintain its social network monopoly.
The report said the company had overpaid for Instagram and WhatsApp “to eliminate nascent threats instead of competing on its own in the mobile ecosystem,” as per FTC’s claims.
Meta argued that the FTC’s case relied “on an overly narrow view of social media markets” and did not take into account competition from TikTok, YouTube, X, and LinkedIn.
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