FTC Sues Meta, Citing A Violation Of Antitrust Laws

According to a press statement on July 27, the Federal Trade Commission (FTC) is attempting to prevent social media giant Meta from acquiring the VR fitness app Supernatural. The Oculus Quest, its app store, “seven of the most successful developers,” and “one of the best-selling apps of all time” are cited by the FTC as examples of Meta’s dominance. The FTC asserts that Meta is “already a prominent player at each level of the virtual reality sector.” Therefore, it opposes CEO Mark Zuckerberg buying Supernatural to gain market dominance. Supernatural provides a VR workout experience with music from notable musicians like Coldplay, Katy Perry, and Lady Gaga. According to the complaint, Meta would violate antitrust rules and reduce competition if it bought Supernatural. FTC Bureau of Competition Deputy Director John Newman said in a statement. “Meta already owns a best-selling virtual reality fitness app, and it had the capabilities to compete even more closely with popular Supernatural app,” He also added, “But Meta chose to buy market position instead of earning it on the merits. This is an illegal acquisition, and we will pursue all appropriate relief.” FTC Already Separately Suing Meta The FTC is already prosecuting Meta separately for illegally monopolizing the personal social networking industry. The agency claims that it utilized those two acquisitions to eliminate potential rivals and further its hegemony. Although Meta h...