Meta Scores Legal Victory: Court Rejects Antitrust Challenge

Meta Platforms has triumphed over a U.S. attempt to dismantle its acquisitions of Instagram and WhatsApp. A federal judge ruled that Meta does not have a social media monopoly, marking a significant win for Big Tech against the antitrust drive and a setback for the FTC's ongoing efforts.

In a landmark decision, Meta Platforms has successfully fended off a U.S. attempt to break up its acquisitions of Instagram and WhatsApp. A federal judge determined that Meta does not possess a social media monopoly, delivering a decisive victory for Big Tech against the ongoing antitrust efforts initiated in earlier administrations.

The ruling represents a substantial blow to the Federal Trade Commission, which aimed to compel Meta to restructure or divest its pricey purchases to rejuvenate market competition. Despite the legal win, Meta shares experienced minimal impact, dipping by only 0.3% after the announcement.

Meta's defense, citing evolving social media landscapes and competition from platforms like TikTok and YouTube, resonated with U.S. District Judge James Boasberg. The judge's decision underscores the changing dynamics of social media, challenging the FTC's exclusion of key competitors in its arguments against Meta.

(With inputs from agencies.)