Communications of the ACM
Judge Denies U.S. Bid To Block Meta Virtual Reality Deal: Reports
The social media giant said when the suit was filed that the FTC's move defied reality, and expressed confidence its buy of Within would be good for VR users as well as developers who make apps in that market.
Credit: TechTank
A US judge on Wednesday denied a request by regulators to bar Facebook parent company Meta from buying virtual reality firm Within Unlimited, but allowed time to appeal the ruling, reports said.
The Federal Trade Commission filed a complaint in federal court in July, arguing that Meta is trying to unfairly buy advantage in the virtual reality market with the purchase of Within, maker of fitness app "Supernatural".
Thwarting the takeover would be a blow to Meta's ambitions to lead the way into a future in which internet life plays out in virtual realms in the metaverse.
In refusing to grant an FTC request to block Meta from proceeding with the acquisition, the judge put any closing of the deal on hold for a week to allow regulators time to appeal his decision, according to reports in Bloomberg and the Wall Street Journal.
From Barron's
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