Monday, December 9, 2024

Zuckerberg testifies in US case against Facebook virtual reality deal

Date:

Oct 28 (Reuters) – Meta Platforms Inc (META.O) CEO Mark Zuckerberg will testify in a case by the Federal Trade Commission (FTC) that argues that the company’s proposed deal to buy a virtual reality (VR) content maker should be blocked under Unlimited.

In a court document filed with the North American District Court in California on Friday, the Federal Trade Commission listed 18 witnesses it plans to question, including Zuckerberg, CEO Chris Milk and Meta Technology Director Andrew Bosworth.

They were also on the witness list given on Friday by the two accused dead and inside.

In addition to defending the acquisition within, Zuckerberg is expected to be questioned about parent Facebook’s strategy for its virtual reality business, as well as the company’s plans to support third-party developers, according to the court document.

The Federal Trade Commission (FTC) filed a lawsuit in July saying that Meta’s acquisition of “Inside” would tend to “create a monopoly” in the market for fitness apps meant for virtual reality.

The regulator argues that the proposed transaction would “significantly reduce competition or tend to create a monopoly” in that market. Read more

Meta, in court documents, argued that “the FTC’s deductive, speculative, and contradictory claims do not reasonably defend any facts to establish that any purported market for VR Deliberate Fitness applications is an ‘oligopoly’ with respect to behavior or structure.” Read more

Facebook agreed to purchase within October 2021 for an undisclosed amount.

(Ismail Shakeel reports in Ottawa). Edited by Aurora Ellis

Our criteria: Thomson Reuters Trust Principles.

POPULAR

RELATED ARTICLES

How Climate Change Affects Turtle Nesting Sites: What You Need to Know

Climate change is an ever-growing concern, and its effects...

Putin, a member of the International Criminal Court, is set to travel to Mongolia despite an arrest warrant against him

Despite an arrest warrant from the International Criminal Court,...

Japan Typhoon: Millions ordered to evacuate as one of strongest typhoons in decades hits Japan

What's the latest?Posted at 12:48 BST12:48 GMTImage source ReutersTyphoon...