Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

admin
Pinned March 25, 2023

<> Embed

@  Email

Report

Uploaded by user
FTC drops bid to block Meta’s acquisition of Within
<> Embed @  Email Report

FTC drops bid to block Meta’s acquisition of Within

FTC faces setback in bid to block Meta’s acquisition of VR developer Within

 
Igor Bonifacic
Igor Bonifacic

The Federal Trade Commission has suffered a setback in its attempt to prevent Meta from buying Supernatural developer Within Unlimited. According to Bloomberg, a federal court this week denied the agency’s request for a preliminary injunction to block the purchase. The deal reportedly won’t close for at least another week yet, as the court also issued a temporary restraining order to give the FTC time to decide whether to appeal the ruling.

Engadget could not confirm Bloomberg’s reporting because the court documents announcing the decision are sealed. Meta did not immediately respond to a comment request. The FTC sued the company last July, arguing Meta’s acquisition of Within would reduce competition in the emerging virtual reality market. Within is the creator of Supernatural, one of the most popular VR exercise apps on the Oculus Quest Store. An eight-day trial in December saw Meta CEO Mark Zuckerberg and Chief Technology Officer Andrew “Boz” Bosworth testify. During the hearing, Bosworth said Meta could abandon the acquisition if it did not “close in a timely manner.”

With Wednesday’s decision, the FTC must decide whether to move forward with its antitrust case against Meta. The agency has a hearing scheduled for February 13th with its administrative judge. If the FTC chooses to let the order stand, it will mark an early defeat for agency head Lina Khan. President Biden appointed Khan to the FTC for her expertise in antitrust law. The Meta decision could impact the FTC’s effort to block Microsoft’s acquisition of Activision Blizzard, a case where the agency already faces an uphill battle due to the vertical nature of the proposed merger.

FTC drops bid to block Meta's acquisition of Within | DeviceDaily.com

Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics   

(13)