Antitrust enforcers who have asked a federal judge to stop Facebook parent Meta Platforms Inc from buying virtual reality content maker Within filed a shorter version of their complaint on Friday.
(For insights on emerging themes at the intersection of technology, business and policy, subscribe to our tech newsletter Today’s Cache.)
The Federal Trade Commission had filed a lawsuit in July saying that Meta's acquisition of Within Unlimited Inc would "tend to create a monopoly" in the market for virtual reality-dedicated fitness apps.
The amended complaint focuses on the virtual reality dedicated exercise app market. One of these apps is Within's Supernatural, which is available only on Meta's VR devices. It argues that the proposed deal would "substantially lessen competition or tend to create a monopoly" in that market.
The complaint drops allegations related to the broader VR fitness app market which also includes dance apps and others that encourage physical activity but are not purely focused on exercise.
Meta, which has said it would fight the lawsuit, said, "What remains of the FTC's case are speculative claims that continue to lack support in either the facts or the law."
Published - October 08, 2022 11:15 am IST
