Meta allowed to buy virtual reality startup despite FTC suit: report
Christopher Hutton
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A federal judge approved Facebook parent company Meta to buy a virtual reality startup, defeating an effort by the Federal Trade Commission to block the acquisition on the grounds that it is monopolistic.
U.S. District Judge Edward Davila denied the FTC’s request for a preliminary injunction to block Meta’s acquisition of Within in a sealed decision Wednesday, according to Bloomberg. Davila also issued a temporary restraining order that will give the FTC a week to decide whether it wishes to appeal the decision.
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The decision would be the first significant loss for FTC chairwoman Lina Khan, who has adopted a more aggressive approach to antitrust in relation to Big Tech companies and was told by FTC staff not to block Meta.
Meta is currently scheduled for an in-house trial before the FTC’s administrative judge on Feb. 13. The regulatory agency will also need to determine if it wishes to continue forward with that case as well.
The FTC and Meta declined to comment.
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Meta’s legal battle began when the FTC filed a suit in July alleging that Meta’s purchase of Within was a potential monopoly since it would allow Meta to dominate the VR app market because it owned two similar fitness apps.
Davila’s decision could offer insight into the outcome of the FTC’s attempt to block Microsoft’s acquisition of the game developer Activision-Blizzard, which the antitrust agency moved to block in December.