Federal Trade Commission (FTC) Chairman Andrew Ferguson discussed the agency’s antitrust case against Meta Platforms in a Monday interview on the show “Mornings with Maria.” The trial commenced with the FTC accusing Meta of engaging in anticompetitive acquisitions to maintain its leading position in personal social networking. The agency’s lawsuit focuses on Meta’s acquisitions of Instagram and WhatsApp in 2012 and 2014, respectively, and seeks to require the company to divest or restructure these businesses to restore market competition.
During the broadcast, host Maria Bartiromo shared a statement from a Meta representative expressing that the FTC’s new action sends a message implying that transactions reviewed and cleared previously by the agency can still be challenged.
Ferguson commented on the trial, noting that the suit originated during President Donald Trump’s administration in 2020 and is being continued currently. He explained that the FTC does not directly clear transactions but predicts their potential anticompetitive effects. According to Ferguson, evidence demonstrates these acquisitions have increased Meta’s power significantly, a situation observed notably in 2020. The FTC believes that Meta operates as a monopoly and that the trial will further illustrate this.
Meta has countered the FTC’s claims, describing the trial as weak and arguing that it operates within a competitive tech landscape where competition has intensified since the FTC’s initial complaint. The company mentioned its broad competition, including platforms like TikTok and YouTube, and contests the FTC’s market definitions.
Ferguson, newly appointed as FTC Chairman by President Trump, adopts a distinct stance on mergers and acquisitions. He identifies as an “anti-trust enforcer,” emphasizing the FTC’s role in protecting against monopolies and fraud while recognizing the importance of mergers and acquisitions for economic growth and innovation. He iterated the need for the FTC to challenge potentially anti-competitive mergers in court, only stepping aside if no issues are evident.