US regulators are stepping in to potentially block Meta from buying virtual reality content maker Within Unlimited.
Seems that if you’re wanting to make a fast buck these days, simply cut ‘n’ paste a pair of VR goggles onto the front of your business plan and Meta will have your arm off… IF they’re allowed to, that is.
The Federal Trade Commission believes that the latest proposed acquisition by everyone’s favourite deep-pocketed former-Facebook may need to be blocked to prevent a monopoly. The FTC has listed 18 witnesses for its lawsuit and has plans to question the likes of Meta’s co-founder and CEO Mark Zuckerberg and Within Unlimited CEO Chris Milk.
The FTC is concerned that the planned acquisition will result in a situation that sees Meta dominate the virtual reality space, VR is an advancing technology and one that has an abundance of potential for future growth. Meta already has a prominent place within the VR industry with its best-selling VR headset, the Quest 2, and controls the Meta Quest store. Meta have also already made major acquisitions by purchasing various development studios such as Beat Games which is responsible for the popular Beat Saber title.
Meta intends to defend the acquisition
Meta however made a statement saying “The FTC’s case is based on ideology and speculation, not evidence. The idea that this acquisition would lead to anticompetitive outcomes in a dynamic space with as much entry and growth as online and connected fitness is simply not credible”.
Essentially Meta feels that the case is not grounded in enough evidence and instead is solely based on speculation which they state is simply not a legal reason to deny the acquisition, Meta further commented saying, “We are confident that our acquisition of Within will be good for people, developers, and the VR space”.
However, it’s apparent that the FTC feels that Meta’s monopoly on baton-twirling, stick-based, VR bash-em-ups is a threat to gaming in general. We await the final outcome with interest.
Paige Cook is a writer with a multi-media background. She has experience covering video games and technology and also has freelance experience in video editing, graphic design, and photography. Paige is a massive fan of the movie industry and loves a good TV show, if she is not watching something interesting then she's probably playing video games or buried in a good book. Her latest addiction is virtual photography and currently spends far too much time taking pretty pictures in games rather than actually finishing them.
