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Meta wins antitrust lawsuit against FTC
(MENAFN) A U.S. federal judge has ruled in favor of Meta, finding that the company is not a monopoly in the social networking market and dismissing an antitrust lawsuit brought by the Federal Trade Commission (FTC) concerning its acquisitions of WhatsApp and Instagram.
Washington District Court Judge James Boasberg stated that the FTC failed to prove Meta had monopolized the market or maintained dominance by purchasing rivals. He noted, “The court ultimately finds that YouTube and TikTok belong in the product market, and they prevent Meta from holding a monopoly. Even if YouTube is out, including TikTok alone defeats the FTC’s case.”
The ruling concludes that Meta does not hold a monopoly position in the relevant market, effectively siding with the tech giant.
The FTC had filed the lawsuit in 2020, claiming that Meta illegally consolidated power in the social media space through its $1 billion acquisition of Instagram in 2012 and its $19 billion purchase of WhatsApp in 2014. Meta’s portfolio also includes Facebook and Threads.
Washington District Court Judge James Boasberg stated that the FTC failed to prove Meta had monopolized the market or maintained dominance by purchasing rivals. He noted, “The court ultimately finds that YouTube and TikTok belong in the product market, and they prevent Meta from holding a monopoly. Even if YouTube is out, including TikTok alone defeats the FTC’s case.”
The ruling concludes that Meta does not hold a monopoly position in the relevant market, effectively siding with the tech giant.
The FTC had filed the lawsuit in 2020, claiming that Meta illegally consolidated power in the social media space through its $1 billion acquisition of Instagram in 2012 and its $19 billion purchase of WhatsApp in 2014. Meta’s portfolio also includes Facebook and Threads.
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