We use essential cookies and third-party cookies for content.

Berliner Tageblatt - Meta completes virtual reality deal after US court win

Berliner Tageblatt
×
NYSE - LSE
RBGPF -3.24% 66 $
RIO 0.66% 93.96 $
GSK -0.28% 46.41 $
NGG -1.06% 76.3 $
RYCEF -8.36% 17.35 $
VOD -4.23% 15.811 $
RELX 2.22% 36.04 $
CMSC 0.05% 19.91 $
BTI 0.09% 55.48 $
AZN 0.43% 159.47 $
BCC -1.43% 73.175 $
BP 0.93% 46.795 $
BCE -4.58% 19.085 $
CMSD 0.02% 20.04 $
JRI 0.85% 10.6 $
Meta completes virtual reality deal after US court win
Meta completes virtual reality deal after US court win / Photo: © AFP/File

Meta completes virtual reality deal after US court win

ECONOMY 09.02.2023

Facebook-owner Meta finalized its buyout of virtual reality firm Within Unlimited, the VR company's chief executive said, after a court rejected an attempt by US regulators to block the deal over competition concerns.

Text size:

A spokesperson for the Federal Trade Commission told AFP on Thursday that it would not appeal the February 1 decision.

The courtroom loss was seen as a setback for FTC head Lina Kahn, who has been an advocate of imposing tougher scrutiny on Big Tech companies on antitrust matters.

The FTC filed a complaint in federal court in July, arguing that Meta was trying to unfairly buy advantage in the virtual reality (VR) market with the purchase of Within, maker of fitness app "Supernatural."

A US judge denied the request on February 1 but gave the FTC time to decide whether it would appeal its rejection.

"Today marks an exciting new chapter for Within and Supernatural, as we officially join Meta," said Within CEO Chris Milk on Twitter.

"We're elated for the opportunity to bring joy, awe, wonder, and a happier, healthier life to more people around the world," he added.

The social media giant said when the suit was filed that the FTC's move defied reality, and expressed confidence that its buy of Within would be good for VR users as well as developers who make apps in that market.

A.Gasser--BTB

Featured

Cuban ration book, symbol of the revolution, gathers dust

Cuban ration book, symbol of the revolution, gathers dust
Evolution Metals & Technologies Corp. Raises Fiscal 2026 Revenue Guidance 62% at Midpoint to $10–$11 Million and Reaffirms $400–$460 Million Fiscal 2027 Outlook

Evolution Metals & Technologies Corp. Raises Fiscal 2026 Revenue Guidance 62% at Midpoint to $10–$11 Million and Reaffirms $400–$460 Million Fiscal 2027 Outlook
Stocks advance, oil retreats as Trump rules out pre-vote Iran attack

Stocks advance, oil retreats as Trump rules out pre-vote Iran attack
Talks with Iran can only succeed without threats, president says

Talks with Iran can only succeed without threats, president says