00:00MetaWin's major antitrust case avoids breaking up Instagram and WhatsApp.
00:05MetaPlatforms Inc. won a victory Tuesday as a federal judge ruled it lacks a social networking
00:10monopoly, ending a years-long FTC antitrust challenge. According to the Associated Press,
00:16Judge James Boesberg ruled after a May trial, rejecting FTC claims that Instagram and WhatsApp
00:22acquisitions stifled competition. The court's verdict today determines that the FTC has not
00:27shown Meta holds monopoly power now, Boesberg wrote. He noted the agency alleged a better-to-buy-than-compete
00:34approach under CEO Mark Zuckerberg, but past acquisitions did not prove current monopoly
00:39power. Whether or not Meta enjoyed monopoly power in the past, the agency must show that
00:45it continues to hold such power now, he added. The FTC had contended that Meta used its dominant
00:51position to prevent competitors from gaining traction, citing internal emails from Zuckerberg
00:56and other executives. Zuckerberg defended the deals, saying 2012 emails about Instagram and
01:02WhatsApp did not reflect his intentions, and that historical focus does not prove monopoly power.
01:08Boesberg said the social media landscape has shifted since the FTC sued in 2020, with TikTok
01:13dominating and blurring social networking and social media. Quoting Heraclitus, the judge wrote,
01:19No man can ever step into the same river twice, noting that Meta's competitive environment
01:24has changed over the past five years. Meta welcomed the ruling.
01:29Our products are beneficial for people and businesses and exemplify American innovation
01:33and economic growth, the company said in a statement. This decision recognizes that Meta
01:38faces fierce competition. Analysts called it a boost, but warned scrutiny continues.
01:44Minda Smiley of eMarketer said, Major social networks will face landmark trials in the U.S.
01:50regarding children's mental health next year. Still, today's win is a significant relief for Meta,
01:57as it navigates mounting criticism over AI investments and competitive practices.
02:02The ruling preserves Meta's ability to keep Instagram and WhatsApp in its portfolio,
02:07a key element of its strategy.
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