Meta: Facebook owner could be forced to sell off Instagram and WhatsApp

Social media giant Meta could be forced to sell off Instagram and WhatsApp as a legal battle begins in the US. Owned by billionaire Mark Zuckerberg, the tech business which also owns Facebook bought Instagram in 2012 and WhatsApp in 2014.An antitrust lawsuit from the US government now alleges that the firm made these transactions to eliminate competition and create a social media monopoly.Although both acquisitions were approved by the US Federal Trade Commission (FTC) at the time, the competition watchdog has continued to monitor the outcomes. If it wins the case it could force Meta to sell off both Instagram and WhatsApp.This would mark a major change in the social media sector landscape, experts say. Mike Proulx, vice president research director at analyst firm Forrester, said the case’s possible ramifications, and the ongoing uncertainty around the future of TikTok, could see a “new social media world order” appear.Mark Zuckerberg, CEO of Meta testifies before the Senate Judiciary Committee, 31 January 2024 (Getty Images)“The ramifications of this trial, coupled with TikTok’s future in limbo, potentially puts the very core of the social media market at play. No longer would Meta be its centre of gravity.“We haven’t seen anything like this
Read More