News Formal

U.S. FTC asks judge to pause Meta deal for VR company Within

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 92%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Fight to determine if Meta could go forward with this relatively small deal is seen as a test of the FTC’s bid to head off what it sees as a repeat of the company acquiring small upcoming would-be rivals to secure dominance,

deal to buy virtual reality app maker Within Unlimited while the two sides await a decision from the court.

The FTC sued the Facebook and Instagram owner in July to stop the Within deal and asked the judge to order a preliminary injunction, saying Meta’s “campaign to conquer VR” began in 2014 when it acquired Oculus, a VR headset manufacturer. There was a trial on the case in December. The agency asked for the court to order Meta to refrain from closing its deal for Within until 11:59 p.m. Pacific time on the first business day after the judge rules on whether the deal may go forward. Or, the agency said in a court filing, the judge could extend the existing temporary restraining order for 7 days.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Using artificial intelligence to invest: Three commodity stocks from Huw Roberts - BNN BloombergArtificial intelligence is aiding one financial expert to find undervalued stocks within the commodities sector.
Source: BNNBloomberg - 🏆 83. / 50 Read more »