Meta wins in FTC antitrust trial
The five-year-long case results in another big win for Big Tech as companies evade aging antitrust laws.
Meta has successfully defended itself from a five-year-long Federal Trade Commission antitrust lawsuit that alleged the company’s acquisition of Instagram and WhatsApp gave it a monopoly on social media.
The fast-moving tech product development cycle was an issue in the case. Started in the first Trump administration, the landscape and the apps themselves have changed significantly since the lawsuit was filed. Years later, Meta finds itself in fierce competition with TikTok, which was not part of the case.
In his bench trial decision, Judge James Boasberg wrote:
“With apps surging and receding, chasing one craze and moving on from others, and adding new features with each passing year, the FTC has understandably struggled to fix the boundaries of Meta’s product market. Even so, it continues to insist that Meta competes with the same old rivals it has for the last decade, that the company holds a monopoly among that small set, and that it maintained that monopoly through anticompetitive acquisitions. Whether or not Meta enjoyed monopoly power in the past, though, the agency must show that it continues to hold such power now. The Court’s verdict today determines that the FTC has not done so.”
Meta’s stock pared some of its losses for the day on the news.
The win for Meta comes just months after Google’s antitrust victory. The FTC still has a pending antitrust suit against Amazon.
Meta spokesperson Andy Stone posted on Threads:
“The Court’s decision today recognizes that Meta faces fierce competition. Our products are beneficial for people and businesses and exemplify American innovation and economic growth. We look forward to continuing to partner with the Administration and to invest in America.”
