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FTC sues Meta to block acquisition of VR company ...Middle East
The Federal Trade Commission (FTC) is trying to block Meta’s acquisition of a virtual reality (VR) company with a popular fitness app through a lawsuit filed Wednesday. The FTC alleged Meta’s acquisition of Within Unlimited, the company behind the fitness app Supernatural, would weaken competition in the VR fitness app market. The complaint alleges Meta, the parent company of Facebook, Instagram and WhatsApp, could have built its own virtual reality app to compete in the space, but by instead choosing to buy a potential rival is limiting competition in a way that could lead to less innovation, lower quality, higher prices and less consumer choice. The FTC’s lawsuit, against th
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