The trial will begin on Monday, April 14.
Transcript:
The Federal Trade Commission and Meta are finally about to square off. April 14th will mark the start of a trial that could end with the social media company having to divest Instagram and WhatsApp.
The trial revolves around the FTC’s case that Meta has monopolized the social networking market. The agency says Meta should have never been allowed to acquire either platform. Instagram was purchased in 2012 for $1 billion, while WhatsApp was bought in 2014 for $19 billion.
In its filing, the FTC said, “Acquiring these competitive threats has enabled Facebook to sustain its dominance—to the detriment of competition and users—not by competing on the merits, but by avoiding competition.”
The trial will take place in Washington D.C. and several current and former high-ranking Meta officials are expected to testify – including Mark Zuckerberg and Sheryl Sandberg.
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