FTC sues to block Meta from 'owning entire metaverse'

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The Federal Trade Commission (FTC) announced on Wednesday that they are going to sue Facebook parent company Meta to halt their acquisition of Within Unlimited, maker of the popular fitness app Supernatural.

FTC Bureau of Competition Deputy Director John Newman said, “Instead of competing on the merits, Meta is trying to buy its way to the top,” and “Meta already owns a best-selling virtual reality fitness app, and it had the capabilities to compete even more closely with Within’s popular Supernatural app.”

According to Decrypt.com, Meta is the biggest company in the virtual reality market and the FTC believes that the company’s purchase of Within Unlimited would enable them to get one step closer to entire control the VR business landscape.

“This is an illegal acquisition,” Newman said, “and we will pursue all appropriate relief.”

Meta is the parent company of Facebook, Instagram, and WhatsApp. According to CNBC, critics say the company had been violating antitrust laws well before their attempted purchase of Within Unlimited, notably when Facebook acquired Instagram and WhatsApp to help propel the corporation to its mega status.

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