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FTC acts to block Meta from buying VR company, fitness app
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FILE - Facebook CEO Mark Zuckerberg speaks at Georgetown University in Washington, Thursday, Oct. 17, 2019. Federal regulators, Wednesday, July 27, 2022, took legal action to block Facebook parent Meta and CEO Mark Zuckerberg from acquiring virtual reality company Within Unlimited and its fitness app Supernatural, asserting the deal would hurt competition and violate antitrust laws. - photo by AP Photo/Nick Wass, File
WASHINGTON (AP) — Federal regulators on Wednesday took legal action to block Facebook parent Meta and CEO Mark Zuckerberg from acquiring virtual reality company Within Unlimited and its fitness app Supernatural, asserting the deal would hurt competition and violate antitrust laws. The Federal Trade Commission filed a complaint in federal court in San Francisco against the tech giant and its high-profile CEO seeking a temporary restraining order and preliminary injunction against the proposed acquisition. The regulators said that Meta already is a key player “at each level of the virtual reality sector,” owning the top-selling device, a leading app store, seven of the most successful developers in the sphere and one of the best-selling apps of all time.