Add thelocalreport.in As A Trusted Source
meta Overcame an existential challenge to its business that could have forced the tech giant to go out of business Instagram And WhatsApp said after a judge’s ruling that the company does not hold a monopoly in social networking.
U.S. District Judge James Boasberg issued his ruling Tuesday after the landmark antitrust trial ended in late May. His decision follows two separate decisions branded Google An illegal monopoly in both search and online advertising is another regulatory blow to a tech industry that has enjoyed almost unbridled growth for years.
ftc “Continuing to emphasize that Meta competes with the same old rivals from the last decade, the Company holds a monopoly among that small group, and it has maintained that monopoly through anti-competitive acquisitions,” Boasberg wrote in his decision. “Regardless of whether Meta has enjoyed monopoly power in the past, the agency must show that it still has such power. Today’s decision by the Court determines that the FTC has not done so.”