Meta has prevailed over an existential challenge to its business that could have forced the tech giant to spin off Instagram and WhatsApp after a judge ruled that the company does not hold a monopoly in social networking.United States District Judge James Boasberg issued his ruling on Tuesday after the historic antitrust trial wrapped up in late May.Recommended Stories list of 4 itemsend of listHis decision follows two separate rulings that branded Google an illegal monopoly in both search and online advertising, dealing yet another regulatory blow to the tech industry that for years enjoyed nearly unbridled growth.The Federal Trade Commission “continues to insist that Meta competes with the same old rivals it has for the last decade, that the company holds a monopoly among that small set, and that it maintained that monopoly through anticompetitive acquisitions,” Boasberg wrote in his ruling.“Whether or not Meta enjoyed monopoly power in the past, though, the agency must show that it continues to hold such power now. The Court’s verdict today determines that the FTC has not done so.”Meta, the FTC had argued, has maintained a monopoly by pursuing CEO Mark Zuckerberg’s strategy, “expressed in 2008: ‘It is better to buy than compete.’ True to that maxim, Facebook has systematically tracked potential rivals and acquired companies that it viewed as serious competitive threats.”During his April testimony, Zuckerberg pushed back against the FTC’s contention that Facebook bought Instagram to neutralise a threat.In his line of questioning, FTC lawyer Daniel Matheson repeatedly brought up emails — many of them more than a decade old — written by Zuckerberg and his associates before and after the acquisition of Instagram. Advertisement While acknowledging the documents, …
