Facebook parent faces threats of illegal social media monopoly after spending billions to acquire two platforms
Facebook parent Meta Platforms faces a high-stakes trial in Washington starting on Monday on claims it built an illegal social media monopoly by spending billions of dollars to acquire Instagram and WhatsApp, in a case in which US antitrust enforcers seek to unwind the deals.
The acquisitions more than a decade ago aimed to eliminate nascent competitors who could threaten Facebook’s status as the go-to social media platform for users to connect with friends and family, the US Federal Trade Commission claims. It filed the case in 2020 during Donald Trump’s first term.
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