FB
FTC huddling as end to Facebook antitrust probe nears - report
- The Federal Trade Commission is "huddling privately" to discuss its
antitrust probe of Facebook (NASDAQ:FB), The Washington Post reports -
signaling
its investigation has moved closer to an endgame.
- Exact timing of any action is unclear. But a federal suit would follow
closely on the Justice Department's landmark antitrust suit against
Google (GOOG, GOOGL), and signal all-out war between the administration
and Silicon Valley.
- And it would follow an FTC privacy investigation into matters linked
to the Cambridge Analytica breach that resulted last year in a $5B fine,
a record for an FTC tech fine.
- Now, as with Google, the focus is on competition, and specifically
Facebook's dominance in social networking along with its purchases of
Instagram and WhatsApp (which feds argue has ultimately made the company
into a social monopoly).
- Shares are up 0.4% after hours.
|Today, 6:38 PM|20 Comments
FTC huddling as end to Facebook antitrust probe nears - report
- The Federal Trade Commission is "huddling privately" to discuss its
antitrust probe of Facebook (NASDAQ:FB), The Washington Post reports -
signaling
its investigation has moved closer to an endgame.
- Exact timing of any action is unclear. But a federal suit would follow
closely on the Justice Department's landmark antitrust suit against
Google (GOOG, GOOGL), and signal all-out war between the administration
and Silicon Valley.
- And it would follow an FTC privacy investigation into matters linked
to the Cambridge Analytica breach that resulted last year in a $5B fine,
a record for an FTC tech fine.
- Now, as with Google, the focus is on competition, and specifically
Facebook's dominance in social networking along with its purchases of
Instagram and WhatsApp (which feds argue has ultimately made the company
into a social monopoly).
- Shares are up 0.4% after hours.
|Today, 6:38 PM|20 Comments
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