WASHINGTON, Feb 24 (Reuters) – The U.S. Federal Trade Commission, which lost a fight in court over whether Facebook parent Meta Platforms Inc (META.O) could buy VR content maker Within Unlimited, has decided to formally end its effort to stop the acquisition, the agency said in a filing on Friday.
The FTC sued Meta in July to stop the Within deal, arguing that Meta’s purchase would reduce competition in a new market. The deal for Within, which makes the Supernatural fitness workouts, was reportedly worth about $400 million.
Judge Edward Davila of the U.S. District Court for the Northern District of California rejected the FTC’s concerns, and declined to order a preliminary injunction. The FTC did not appeal, and the deal closed in February.
The FTC’s effort had been seen as a test of the agency’s ability to prevent Meta from acquiring small would-be rivals.
Reporting by Diane Bartz in Washington
Editing by Matthew Lewis
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