US FTC won’t appeal ruling allowing Meta to buy VR content maker Inside | – #FTC #wont #appeal #ruling #allowing #Meta #buy #content #maker
WASHINGTON, February 6 (Reuters) – USA The Federal Trade Commission (FTC) has lost a federal court battle to stop Meta Platforms ( META.O ) from buying VR content maker Within Unlimited complaint he said he wouldn’t but could still go ahead. work with an internal FTC administrative law judge.
Last week in the Northern District of California USA District Court Judge Edward Davila refused to block Meta’s acquisition of the VR content maker, dismissing the regulator’s concerns that the deal would reduce competition in the new market.
An FTC official said that the agency’s FTC administrative law judge it has not yet been decided whether it will try to stop the deal in the proceedings before it. His trial is set for February 13.
Meta from last week’s ruling in federal court complaint declined to comment on his decision not to.
The FTC sued Meta in July and asked a judge to grant a preliminary injunction, Meta’s “campaign to conquer VR” began after it bought VR headset maker Oculus in 2014.
Latest UpdatesDealscategoryCVS initial medical for Oak Street Health providing assistance 10,5 billion dollar deal nears – WSJ, article with imageDealscategoryAbbvie deals 2 billion plans to raise dollar limit – WSJ, pictorial article
See 2 more stories
Meta did not disclose what it paid for, but the tech publication reported the price to be around 400 million dollars organized.
A December trial to decide whether Meta could move forward with a relatively small deal was seen as an attempt by the FTC to stave off what it sees as a repeat of the FTC’s acquisition of smaller futures competitors, this time to dominate the market. in the emerging virtual and augmented reality markets.
The FTC also Meta’s Facebookfiled an ongoing lawsuit against , 2020Instagram and from the court WhatsApp wanted to force him to sell his derivatives, social said the media company was using a buy-or-bust strategy to capture its rivals and drive away smaller competitors. . read more
Reporting by Diane Bartz; Edited by Aurora Ellis
Our standards: Thomson Reuters Trust Principles.
2023-02-07 07:57:52
Source – reuters
Translation“24 HOURS”