Summary
A court ruled that Meta, the company that owns Facebook, Instagram, and WhatsApp, does not have a monopoly in social networking. This decision means that Meta will not be forced to sell off Instagram and WhatsApp. The judge found that the Federal Trade Commission (FTC) did not prove that Meta still holds monopoly power.
Key Facts
- A judge ruled that Meta is not a monopoly in social networking.
- The judge's decision means Meta can keep Instagram and WhatsApp.
- The ruling followed an antitrust trial that ended in May.
- The FTC argued that Meta held a monopoly through acquisitions.
- Meta's CEO, Mark Zuckerberg, contested the FTC’s claims, particularly about the Instagram purchase.
- The judge stated that the social media market has changed, with new competitors like TikTok rising.
- The FTC's original lawsuit against Facebook was filed in 2020.
