Meta is set to begin a high-profile antitrust trial on Monday against the Federal Trade Commission, according to CNBC. The agency is seeking to force the company to divest Instagram and WhatsApp. The trial centers on claims that Meta illegally monopolized the personal social networking market by acquiring emerging rivals rather than competing with them. Meta contends it faces strong competition from TikTok, YouTube, and iMessage. The FTC argues that Meta has monopolized the personal social networking market, claiming there are no major alternatives to Facebook and Instagram.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Meta is set to begin a high-profile antitrust trial on Monday against the Federal Trade Commission, according to CNBC.
00:08The agency is seeking to force the company to divest Instagram and WhatsApp.
00:12The trial centers on claims that Meta illegally monopolized the personal social networking market
00:17by acquiring emerging rivals rather than competing with them.
00:21Meta contends it faces strong competition from TikTok, YouTube, and iMessage.
00:25The MTC argues that Meta has monopolized the personal social networking market,
00:30claiming there are no major alternatives to Facebook and Instagram.
00:34For all things money, visit Benzinga.com slash GSTV.