FTC faces setbacks in attempt to block Meta’s acquisition of VR developer Within
The Federal Trade Commission has had a setback in its attempt to stop Meta Supernatural developer Within Unlimited from buying. According to , a federal court this week denied the agency’s request for a preliminary injunction blocking the purchase. The deal is reportedly set to last for at least another week, as the court also issued a temporary restraining order to give the FTC time to decide whether to appeal the ruling.
cafe-madrid couldn’t confirm it from Bloomberg press charges because the court documents announcing the decision are sealed. Meta did not immediately respond to a request for comment. The FTC, arguing that Metas would reduce competition in the emerging virtual reality market. Within is the creator of , one of the most popular VR exercise apps on the Oculus Quest Store. An eight-day trial in December saw Meta CEO and Chief Technology Officer Andrew “Boz” Bosworth testify. At the hearing, Bosworth said Meta could abandon the acquisition if it was not “completed in a timely manner”.
With Wednesday’s decision, the FTC must decide whether to proceed with its antitrust suit against Meta. The bureau has scheduled a hearing with its administrative judge for February 13. If the FTC chooses to let the order stand, it will mean an early defeat for the chief of agency. President Biden appointed Khan to the FTC for her expertise in antitrust law. The Meta decision could affect the FTC’s efforts to block Microsoft’s acquisition of Activision Blizzard, a case the agency is already facing an uphill battle due to the vertical nature of the proposed merger.
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