A federal judge ruled in favour of Meta Platforms in its high-profile antitrust case against the Federal Trade Commission, which accused the company of holding a monopoly in social networking.
The agency sought to compel Meta to sell or restructure Instagram and WhatsApp to create a more level playing field among social media networks.
The case was initially filed five years ago following Meta's acquisition of Instagram for US$1 billion in 2012 and WhatsApp for US$19 billion in 2014.
In rebuttal, Meta said acquiring already successful social networks was a valid business strategy and that the lawsuit ignored the competition it faced from Google’s YouTube, ByteDance’s TikTok, Apple’s messaging app and others.
“The Court’s decision today recognises that Meta faces fierce competition,” the company’s chief legal officer, Jennifer Newstead, said in a statement.
“Our products are beneficial for people and businesses and exemplify American innovation and economic growth.
In a memorandum opinion, Judge James Boadberg said the FTC failed to prove its argument.
“Whether or not Meta enjoyed monopoly power in the past, though, the agency must show that it continues to hold such power now,” Boasberg said in the filing.
“The Court’s verdict today determines that the FTC has not done so. A judgment so stating shall issue this day.”
The case was part of a larger antitrust crackdown on Big Tech in the U.S., with the FTC filing a separate case against Amazon.com and the Department of Justice bringing claims against Apple and Alphabet’s Google.
