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Meta will face antitrust trial over Instagram, WhatsApp acquisitions
Meta overpaid for Instagram in 2012 and WhatsApp in 2014 to eliminate nascent threats instead of competing on its own in the mobile ecosystem, the FTC claims.
Facebook owner Meta Platforms must face trial in a U.S. Federal Trade Commission lawsuit seeking its break-up over claims that it bought Instagram and WhatsApp to crush emerging competition in social media, a judge in Washington ruled on Wednesday. Judge James Boasberg largely denied Meta's motion to end the case filed against Facebook in 2020, during the Trump administration, alleging that the company acted illegally to maintain its social network monopoly. FTC spokesperson Douglas Farrar said that the case filed during the Trump administration and refined under Biden "represents a bipartisan effort to curtail Meta's monopoly power and restore competition to ensure freedom and innovation in the social media ecosystem."
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