FTC drops bid to block Meta's acquisition of Within
filed antitrust lawsuits
in federal court and its in-house court last year in an effort to prevent Meta from snapping up the company that developed the virtual reality workout app Supernatural. At the time, the commission accused Meta of"trying to buy its way to the top... instead of earning it on the merits." It said the company had the resources to enter"the VR fitness market by building its own app" and doing so would increase consumer choice and innovation.
US District Judge Edward Davila, who oversaw the federal case, ruled in favor of Meta. While he reportedly agreed that mergers that could potentially harm competition in the future should be blocked, he decided that the FTC failed to offer sufficient evidence showing how the Within acquisition would be detrimental to the market. He also said that while Meta has vast resources, it"did not have the available feasible means to enter the relevant market other than by acquisition.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
After court loss, FTC dismisses Meta-Within caseThe Federal Trade Commission will not pursue an internal antitrust case to reverse Meta's acquisition of virtual reality startup Within, per a regulatory filing.
Weiterlesen »
FTC Abandons Challenge to Meta’s Acquisition of Virtual-Reality StartupThe Federal Trade Commission on Friday dropped its last remaining effort to block's acquisition of a virtual-reality startup, handing a final victory to the Facebook parent
Weiterlesen »
FTC abandons suit blocking Meta acquisition of VR developerThe Federal Trade Commission dismissed its suit blocking Meta's acquisition of a virtual reality developer, marking the latest loss for the Lina Khan-led agency and its new aggressive approach to antitrust.
Weiterlesen »
Meta is reforming ‘Facebook jail’ in response to the Oversight Board | EngadgetMeta says it’s reforming its penalty system so that people are less likely to land in 'Facebook jail,' for minor rule violations..
Weiterlesen »
Engadget Podcast: AI all the things! | EngadgetThis week, we discuss the latest on Bing AI, as well as the rise of ChatGPT stories on the Kindle store..
Weiterlesen »
Consumers reported losing nearly $8.8 billion to scams in 2022: FTCThe Federal Trade Commission released data showing that American consumers reported losing $8.8 billion to scammers in 2022, an increase of more than $2 billion from a year ago.
Weiterlesen »