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Meta will face antitrust trial over Instagram, WhatsApp acquisitions
Economic Times
·
8m ago
Medial
Judge in Washington ruled that Meta Platforms, formerly known as Facebook, must face trial in a Federal Trade Commission (FTC) lawsuit seeking its breakup. The FTC alleged that Meta illegally acquired Instagram and WhatsApp to eliminate competition in the social media industry. Meta argued that the case had an overly narrow view of social media markets and failed to consider competition from platforms such as TikTok, YouTube, X, and LinkedIn. This lawsuit is one of five major antitrust cases targeting Big Tech, including Amazon, Apple, and Google.
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The 2006 Zuckerberg quote at the center of Meta's antitrust trial
Economic Times
·
2m ago
Medial
In the landmark antitrust trial against Meta, formerly Facebook, a pivotal question is whether social media is about real connections or broader interactions. The trial challenges Meta's dominance, scrutinizing its acquisitions of Instagram and WhatsApp for stifling competition. While Meta argues they compete with all social media, the FTC asserts it's only platforms connecting friends. Defining Meta's place in the social media landscape will significantly impact future tech market dynamics and antitrust enforcement.
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US prepares to challenge Meta's social media dominance
Economic Times
·
3m ago
Medial
The U.S. is challenging Meta's dominance in social media with a landmark antitrust case, beginning in Washington, D.C. The Federal Trade Commission argues that Meta illegally maintained its monopoly by acquiring competitors like Instagram and WhatsApp. A multi-week trial could reshape antitrust laws and affect tech mergers. While Meta claims ample competition, the outcome may set a precedent for future antitrust actions, impacting tech giants' acquisitions and market control in the U.S.
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Mark Zuckerberg takes stand to defend Meta against antitrust suit
Economic Times
·
3m ago
Medial
Mark Zuckerberg appeared in court to defend Meta in an antitrust trial aiming to potentially dismantle the company. The Federal Trade Commission (FTC) claims Meta created a social media monopoly with acquisitions of Instagram and WhatsApp, using a "buy-or-bury" strategy against competitors. Zuckerberg argued Meta still faces competition from platforms like TikTok. A successful FTC case may force Meta to divest its acquisitions, significantly impacting its business operations and altering Silicon Valley merger practices.
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At Meta's landmark trial, a stroll through a graveyard of dead apps
Economic Times
·
2m ago
Medial
The antitrust trial against Meta features Mark Zuckerberg and former executives reflecting on past competitive concerns and acquisitions like Instagram and WhatsApp. The trial revisits the early days of social apps, highlighting apps that worried Zuckerberg, many now defunct. It underscores the challenges of evaluating past decisions in the fast-evolving tech landscape, where the focus has shifted from social networking to AI and other technologies. Witnesses often struggled to recall decisions made over a decade ago.
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Meta asks judge to rule that FTC failed to prove its monopoly case
Economic Times
·
2m ago
Medial
Meta Platforms has requested a federal judge to dismiss the FTC's allegation of an illegal social media monopoly, stating the agency failed to substantiate its case during the ongoing antitrust trial in Washington. The FTC claims Meta, formerly Facebook, used acquisitions of Instagram and WhatsApp to stifle competition. Meta argues the FTC hasn't proven this, presenting evidence that these platforms didn't hinder competition. If the judge agrees, it could expedite the case's resolution.
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At US antitrust trial, Meta's Mark Zuckerberg admits he bought Instagram because it was 'better'
Economic Times
·
3m ago
Medial
Meta CEO Mark Zuckerberg, during a US antitrust trial, admitted he purchased Instagram due to its superior camera, unveiling it as a strategic acquisition to outpace a potential rival. This admission supports US antitrust enforcers' claim that Meta engages in a "buy or bury" tactic to maintain a monopoly. The trial, initiated in the Trump era, challenges Meta's acquisition of Instagram and WhatsApp, amidst intensified competition from TikTok, YouTube, and Apple’s messaging app.
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Mark Zuckerberg repeats Trump visits in bid to settle antitrust case
Economic Times
·
3m ago
Medial
Meta CEO Mark Zuckerberg has been meeting with President Donald Trump to encourage a settlement in an antitrust case filed by the Federal Trade Commission. The case, set to go to trial on April 14, 2024, challenges Meta's acquisitions of Instagram and WhatsApp, alleging they were attempts to eliminate competition. Zuckerberg's lobbying efforts have included frequent visits and strategic corporate policy changes. The outcome could require Meta to divest these platforms, although a decision is pending.
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Meta faces historic antitrust trial that could force it to break off Instagram, WhatsApp
Economic Times
·
3m ago
Medial
Meta Platforms Inc. faces a historic antitrust trial that could force it to separate Instagram and WhatsApp, accusing it of maintaining an illegal monopoly. The trial challenges Meta's acquisition strategy under antitrust scrutiny, arguing it hindered competition. While Meta contests the narrow market definition used by the FTC, the trial's outcome could significantly impact Meta's business, particularly its advertising revenues, and test the FTC's ability to regulate big tech in dynamic markets.
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Meta faces trial in 2025 on unfair competition case lodged by Spanish media
Economic Times
·
7m ago
Medial
Facebook owner Meta Platforms will face trial in Spain in October 2025 over a 551 million euro complaint filed by over 80 media companies. The companies accuse Meta of unfair competition in advertising, alleging that its use of personal data from Facebook, Instagram, and Whatsapp users gives it an unfair advantage in personalized ads. The trial comes after Spanish media associations and TV and radio broadcasters filed similar lawsuits against Meta. Legacy media organizations worldwide are seeking fair compensation from tech giants for using and sharing their content. Meta has limited news promotion in some markets, prioritizing other content types.
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Mark Zuckerberg offered $1 billion to settle FTC antitrust case
Economic Times
·
3m ago
Medial
Mark Zuckerberg reportedly offered up to $1 billion to settle an antitrust case with the US Federal Trade Commission (FTC), which alleges Meta's acquisitions of Instagram and WhatsApp were anti-competitive. The FTC rejected the offer, demanding at least $18 billion and seeking to dismantle Meta's monopoly. Former FTC Chair Lina Khan criticized the settlement offer as inadequate. Despite the negotiations, the trial commenced, marking a critical moment for Meta amidst significant legal challenges.
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