Summary
A U.S. judge ruled that Meta, the company that owns Facebook, Instagram, and WhatsApp, did not break antitrust laws when it bought Instagram and WhatsApp. The judge found that Meta does not currently have a monopoly in the social media market. The decision was a setback for the Federal Trade Commission (FTC), which had argued that the acquisitions harmed competition.
Key Facts
- A U.S. district judge in Washington ruled that Meta did not violate antitrust laws with its Instagram and WhatsApp acquisitions.
- The Federal Trade Commission (FTC) sued Meta, claiming the company had a monopoly in social media.
- Judge James Boasberg stated the FTC did not prove Meta holds a monopoly now.
- The FTC had approved Meta's purchase of Instagram in 2012 and WhatsApp in 2014.
- Meta CEO Mark Zuckerberg and former COO Sheryl Sandberg testified that competitors like TikTok and YouTube changed social media competition.
- The FTC is reviewing its options and is unsure whether it will appeal the decision.
- The ruling means Meta will not have to split off Instagram and WhatsApp.
- Other tech companies, like Google, have faced similar antitrust scrutiny from the Department of Justice.
