A California judge is reportedly allowing Meta to close its acquisition of virtual reality fitness startup Within, despite an ongoing antitrust case by the Federal Trade Commission. Bloomberg reports that a pair of sealed orders deny the FTC’s request to block the deal but with a one-week delay that will give the FTC time to appeal. The orders were posted yesterday, and a status hearing on the case is set for February 7th.
The FTC sued in July of 2022 to stop Meta’s acquisition of Within, which makes the popular VR app Supernatural. The agency argued that Meta’s purchase would expand its dominance in the consumer VR market, where Meta has staked many of its resources in recent years. The commission highlighted Meta’s previous merger with the company behind Beat Saber in 2019, claiming that the addition of Within would eliminate a “beneficial rivalry” between the two companies.
Related: Snap Ordered To Hand Over Emails In Meta FTC Antitrust Case
Meta fought the decision, but in December, it agreed to delay its Within acquisition until January 31st — although Meta CTO Andrew Bosworth said in a hearing that the company might drop the deal if it “doesn’t close in a timely manner.” Meta declined to discuss the decision at this point.
The FTC apparently faced internal disagreements over whether to intervene in Meta and Within’s deal, and its pursuit of the case stands in stark contrast to several relatively smooth Meta (formerly Facebook) acquisitions, including its purchase of VR startup Oculus in 2014. “Out of respect for the court’s orders, the FTC is not in a position to comment at this time,” FTC director of public affairs Douglas Farrar told The Verge in response to a request for comment.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI