Zuckerberg to testify in U.S. case against Facebook’s virtual reality deal

Author of the article: Meta Platforms Inc Chief Executive Officer Mark Zuckerberg will testify in a case by the Federal Trade Commission (FTC) that argues the company’s proposed deal to buy virtual reality (VR) content maker Within Unlimited should be blocked. In a court document filed with U.S. District Court Northern District Of California on…
Zuckerberg to testify in U.S. case against Facebook’s virtual reality deal

Author of the article:

Meta Platforms Inc Chief Executive Officer Mark Zuckerberg will testify in a case by the Federal Trade Commission (FTC) that argues the company’s proposed deal to buy virtual reality (VR) content maker Within Unlimited should be blocked.

In a court document filed with U.S. District Court Northern District Of California on Friday, the FTC listed 18 witnesses it plans to question, including Zuckerberg, Within CEO Chris Milk and Meta Chief Technology Officer Andrew Bosworth.

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

They were also on a list of witnesses submitted on Friday by defendants Meta and Within.

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

The FTC had filed a lawsuit in July saying that Meta’s acquisition of Within would “tend to create a monopoly” in the market for VR-dedicated fitness apps.

The regulator argues that the proposed deal would “substantially lessen competition or tend to create a monopoly” in that market.

Meta, in court documents, has argued that “the FTC’s conclusory, speculative, and contradictory allegations do not plausibly plead any facts to establish that any supposed market for VR Deliberate Fitness apps is ‘oligopolistic’ as to either behavior or structure.”

Facebook agreed to buy Within in October 2021 for an undisclosed sum. (Reporting by Ismail Shakil in Ottawa; Editing by Aurora Ellis)

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Gold pulls back as dollar rebounds on U.S. strong data
Read More

Gold pulls back as dollar rebounds on U.S. strong data

Author of the article: Publishing date: Dec 05, 2022  •  21 hours ago  •  1 minute read Join the conversation Gold prices beat a sharp retreat on Monday as the dollar shot back up on bets that strong U.S. economic readings may give the Federal Reserve fodder to accelerate rate hikes. Spot gold dipped 1.2% to…
Sweden Prefers Steel Over Bitcoin Miners as Power Gets Scarce
Read More

Sweden Prefers Steel Over Bitcoin Miners as Power Gets Scarce

Sweden has a choice to make: Provide electricity for job-creating projects such as steel plants or devote more capacity to the Bitcoin miners that are gobbling up growing amounts of power. Energy Minister Khashayar Farmanbar says it’s no contest. Author of the article: Bloomberg News Lars Paulsson and Niclas Rolander uz]b0bta)3[9udtkh[ry3[26_media_dl_1.png Bloomberg RSS (Bloomberg) —…
Gold scales over 1-month peak on mounting economic worries
Read More

Gold scales over 1-month peak on mounting economic worries

Author of the article: Gold prices hit a more than one-month high on Monday, carrying momentum from a sharp gain in the previous session on concerns over a potential blow to the U.S. economy from an aggressive Federal Reserve approach to combating inflation. FUNDAMENTALS * Spot gold firmed 0.1% to $1,872.53 per ounce, as of…
Crypto Lender Tied to Chinese Rig Giant Throws Miners a Lifeline
Read More

Crypto Lender Tied to Chinese Rig Giant Throws Miners a Lifeline

Chinese Bitcoin mining rig giant Bitmain Technologies Ltd. has been selling machines to miners for about nine years. Now it’s helping to keep them afloat during the cryptocurrency market downturn through its ties with industry financier Antalpha. Author of the article: A technician inspects bitcoin mining machines at a mining facility in Ordos, Inner Mongolia,…