The Federal Trade Commission says it will appeal the Meta antitrust ruling

The Federal Trade Commission said Tuesday it will appeal the November ruling in favor of Meta in its antitrust case against the social media giant.

The FTC said it continues to allege that, for more than a decade, Meta Platforms Inc. has “illegally maintained a monopoly” in social networking through anticompetitive conduct “by buying the significant competitive threats it identified in Instagram and WhatsApp.”

Meta had prevailed over the existential challenge to its business that could have forced the tech giant to spin off Instagram and WhatsApp after a judge ruled that the company does not hold a monopoly in social networking.

U.S. District Judge James Boasberg issued his ruling on Nov. 18 after the historic antitrust trial wrapped up in late May. His decision runs in sharp contrast to two separate rulings that branded Google an illegal monopoly in both search and online advertising, dealing regulatory blows to the tech industry that for years enjoyed nearly unbridled growth.

In a statement, Meta said the court’s decision “to reject the FTC’s arguments is correct, and recognizes the fierce competition we face. We will remain focused on innovating and investing in America.”

—Associated Press

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Source: vetbizresources