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The
Federal Trade Commission had filed a lawsuit seeking to stop the
deal in July, and had asked a judge in federal court in San
Francisco for a temporary restraining order stopping the
companies from closing the deal.
In a joint court filing on Thursday, Meta agreed not to close
until 11:59 p.m. on Dec. 31 or until the first business day
after the judge decides whether the case may go forward.
The FTC, which voted 3-2 on whether to file the lawsuit, called
Facebook a "global technology behemoth," noting its ownership of
popular apps including Instagram, Messenger and WhatsApp, and
said its "campaign to conquer VR" began in 2014 when it acquired
Oculus, a VR headset manufacture
Facebook, which agreed to buy Within in October 2021 for an
undisclosed sum, said when the lawsuit was filed that the FTC
case was "based on ideology and speculation, not evidence."
The FTC argued in its complaint that the planned acquisition was
a way for Meta to dominate virtual reality.
Meta already has the best-selling VR headset, the Quest 2, and
controls a Meta Quest Store with hundreds of apps. Within,
founded in 2014, creates original content for virtual reality.
It describes itself as "the premier destination for cinematic
virtual reality."
(Reporting by Diane Bartz; Editing by Sandra Maler)
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