FTC acts to block Meta from buying VR company, fitness app

Published July 27, 2022 12:56 PM

By MARCY GORDON
AP Business Writer

WASHINGTON (AP) — Federal regulators have taken legal action to block Facebook parent Meta and its CEO Mark Zuckerberg from acquiring virtual reality company Within Unlimited and its fitness app Supernatural. They are asserting the deal would hurt competition in the virtual reality market and violate antitrust laws. Experts said it was the Federal Trade Commission’s first legal challenge to a Big Tech merger. The FTC filed a complaint Wednesday in federal court against the tech giant and its high-profile CEO. The agency is seeking a temporary restraining order against the proposed acquisition. Meta rejected the regulators’ claims, saying the case is based on ideology and speculation.

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