Summary:
- The U.S. Federal Trade Commission (FTC) has filed an antitrust lawsuit against Meta (Facebook's parent company) alleging that the company has illegally maintained a monopoly in the social media market.
- The lawsuit claims that Meta's acquisitions of Instagram and WhatsApp were part of an effort to eliminate potential competitors and maintain its dominance in the social media industry.
- If the FTC's case is successful, it could result in Meta being forced to sell off Instagram, which it acquired in 2012 for $1 billion, and potentially other assets as well.