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The Street
  • 5 months ago
The trail will begin on Monday, April 14.
Transcript
00:00The Federal Trade Commission and Meta are finally about to square off.
00:03April 14th will mark the start of a trial that could end with the social media company
00:08having to divest Instagram and WhatsApp.
00:10The trial revolves around the FTC's case that Meta has monopolized the social networking market.
00:15The agency says Meta should never have been allowed to acquire either platform.
00:19Instagram was purchased in 2012 for $1 billion, while WhatsApp was bought in 2014 for $19 billion.
00:25In its filing, the FTC said, acquiring these competitive threats has enabled Facebook
00:30to sustain its dominance to the detriment of competition and users,
00:34not by competing on the merits, but by avoiding competition.
00:38The trial will take place in Washington, D.C., and several current and former high-ranking
00:42Meta officials are expected to testify, including Mark Zuckerberg and Sheryl Sandberg.
00:46That'll do it for your daily briefing.
00:48From New York City, I'm Kelsey Barbario with The Street.

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