FTC gives up blocking Meta's acquisition of VR's Within

CTOnews.com, February 26 (Xinhua)-- the Federal Trade Commission (FTC) on Friday abandoned a last-ditch effort to block Facebook parent company Meta from acquiring virtual reality startup Within, according to the Wall Street Journal.

Less than a month ago, a US judge refused to block Meta's acquisition of virtual reality start-up Within. The decision of US Judge Edward Davila did not directly affect the challenge posed by FTC in its internal administrative court, and it was not clear at the time whether FTC would continue to press ahead with the administrative case.

U. S. antitrust law enforcement agencies usually abandon such administrative proceedings after a judge rejects a request for an injunction. Both the case and the lawsuit in the US court have been closely watched because FTC has adopted an unusual theory of competitive damage, focusing on potential future competition in emerging industries.

CTOnews.com has reported that FTC sued Meta in July last year to stop its acquisition of Within on the grounds that Meta had been planning a "VR conquest movement" since it acquired Oculus in 2014. The case opened in December last year.