Mark Zuckerberg to testify in FTC case of Facebook VR content creator purchase

October 29, 2022 By Omal J

(Image Credit Google)

Mark Zuckerberg, the chief executive of Meta, will give testimony in a dispute brought by the Federal Trade Commission that challenges the acquisition of Within Unlimited, a company that creates virtual reality content. Facebook made a proposal to buy Within Unlimited, a producer of virtual reality entertainment. However, according to Reuters, the US government believes that this acquisition should be halted, thus Mark Zuckerberg, the CEO of Meta, must appear in court. In a document submitted to the US District Court Northern District of California on Friday, the FTC cited 18 witnesses. This comprises Zuckerberg, Chris Milk, the CEO of Within Unlimited, and Andrew Bosworth, the CTO of Meta.

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In addition to discussing the acquisition, Zuckerberg will also discuss Meta's approach to the Virtual Reality market during his testimony. The court's inquiry into the business's ambitions to assist third-party developers is also mentioned in the court filing. The FTC voted 3-2 to require the CEO of this agreement to testify first because it is likely to "establish a monopoly" in the market for VR-related fitness apps, according to a Mint report. A fitness app is "Supernatural," which is currently owned by Within Unlimited. Since Facebook purchased Occulus in 2014, the firm has dominated the virtual reality (VR) industry, earning the moniker "global technology powerhouse." Mark Zuckerberg

According to a previous story from Reuters, Facebook originally agreed to buy Within Unlimited in October 2021. Meta, meantime, disagreed with the FTC's interpretation of the acquisition of the business. "The FTC's argument is supported by supposition and ideology rather than fact. It is simply untrue that this acquisition would result in anticompetitive effects in a dynamic industry with as much entry and growth as online and linked fitness, "cited in meta.

By Omal J

I worked for both print and electronic media as a feature journalist. Writing, traveling, and DIY sum up her life.

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