FTC says Meta bought rivals after failing to compete - Breaking The News

FTC says Meta bought rivals after failing to compete

14 April

1 min read

EPA-EFE/TASOS KATOPODIS

Facebook parent Meta Platforms acquired Instagram and WhatsApp only after failing to develop competing services, a US Federal Trade Commission attorney said Monday at the start of a pivotal antitrust trial in Washington.

The FTC argues these purchases were not strategic innovations but desperate moves to eliminate future threats and secure Meta's dominance. Attorney Daniel Matheson told the court that Meta's actions created long-lasting entry barriers and left consumers with few alternatives.

The agency seeks to force Meta to unwind the deals, a move that could see Instagram and WhatsApp sold off. Meta's Chief Legal Officer Jennifer Newstead has dismissed the case as a political stunt.

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