Federal Trade Commission Chairman Andrew Ferguson previewed the introduction of the agency’s antitrust case against Meta and gave details of the Deragulatory agenda of the Trump administration.
Federal Trade Commission (FTC) President Andrew Ferguson on Monday weighed the agency’s no -confidence case against social media legendary meta platforms in the presence of “Morning with Maria”.
FTC and Meta turned to the court on Monday morning, as the trial exiting the agency has accused the tech company that “in personal social networking” is engaged in anticompatural acquisition to protect its main condition ” Was officially running.
The agency’s suit takes a special issue with the purchase of Instagram and WhatsApp of Mata and asks Tech Company to divide or configure its businesses to restore the competition. They occurred in 2012 and 2014 respectively.
“Morning with Maria” host Maria Bartiromo said in the weekend that “after more than 10 years reviewed by FTC and approved our acquisitions, the Commission’s action in the case sends a message that no deal is really final.”
Commissioner Andrew Ferguson was tapped to preside over FTC last month. (Screenshot / Federal Trade Commission / Fox News)
When asked about the meta trial, Ferguson told Bartiromo that President Donald Trump “started this suit in 2020 and we are watching it through today.”
“On the transaction of transactions, you know, FTC does not clear the transaction, it tries to make a prediction about whether the transaction is going to be a transport,” he said.
Ferguson claimed during his “Morning with Maria” appearance, “but here, we have the real evidence that the transaction turned out to be anti-transplantation and gave a tremendous power to Facebook and Meta, which we all saw on full performance in 2020,” Ferguson claimed during his “Morning with Maria” appearance. “And because what the matter is about, it is about addressing the power of Meta and making sure that the situation we had in 2020 can never happen again.”
Ferguson said that FTC “definitely” believes that meta is a “monopoly”.
On Monday, April 7, the meta is ready to end all third-party facts on its American platforms. (Nicholas Cocovlis / Narfot / Getty Image)
He said, “We feel that the evidence we give is showing that it is a monopoly.” “And look, we all saw in 2020 completely seen in these social media platforms, every aspect of our daily life, our politics, our elections, our social life, how much power is there about our economic life, and this is about this matter, it is about addressing that kind of power and ensuring that 2020 can never happen again.”
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Meta, starring CEO Mark Zuckerberg, has pushed back against FTC claims about monopoly and called the agency case “weak”.
One in Press release Keeping out over the weekend, the tech company argued that it “fastens to the fast shifting tech scenario with American and foreign competitors” and that the competition “has increased only” since the FTC has filed its complaint since the FTC has filed its complaint.
Meta claimed that FTC “has a ostentic market in which Facebook and Instagram compete only with an app called Snapchat and Meeway.” It states that when Tikokkok and YouTube are taken into consideration, its market share was less than 30% and it also competes with other social media platforms.
| Langer | Security | Last | Change | Change % |
|---|---|---|---|---|
| Meta | Meta Platform Inc. | 521.52 | -9.96 |
-1.87% |
Meta said, “It is absurd that FTC is trying to break a great American company, at the same time the administration is trying to save Chinese -owned Ticketkok.” “And, this is no meaning for regulators to try American companies properly and at this time we need to weaken the most we need to invest in AI to win competition with China for leadership.”
During his appearance on “Morning with Maria”, Ferguson also told Bartiromo that he was taking a “separate” approach with FTC when he spoke of merger and acquisition and described himself as “Anti-Trust Enforcers”.
The Federal Trade Commission headquarters at Washington, DC on September 28, 2024. (Stephanie Reynolds / Bloomberg / Getty Image)
“I think it is really important to ensure that all Americans in every aspect of our daily life do not have a monopoly and we do not have fraud,” he said. “But, you know, merger and acquisition is an important part of how the economy grows, it is an important part of how in our economy we have innovation and vibrancy.”
Ferguson said that he sees the role of FTC to see the merger and “if we think they are opposed to, go to court” and “to get out quickly” if the agency doesn’t think they are.
Trump chose Ferguson to become the President of FTC on the first day of his second presidential post.
