Facebook's Parent Company Meta To Delay Within Deal December 20, 2022
Story: Divya Sinha
According to a court filing, Meta has no plans to sign an acquisition deal with Within Unlimited before January 31st.
Meta agreed to postpone its closure for one month after the court rules on US Federal Trade Commission's preliminary injunction trial.
In August, Meta agreed not to close until December 31.
FTC filed a lawsuit in July to block the deal, calling Facebook a global tech giant and noting that it owns popular apps like Instagram, Messenger and WhatsApp.
In addition, it mentioned that its campaign to conquer VR began in 2014 with the acquisition of Oculus.
In October, the FTC filed a complaint against a merger focused on the VR-specific exercise app market.
Meta owns the best-selling VR headset, the Quest 2, and manages the Meta Quest Store with hundreds of apps.