US formally ends fight against Meta’s purchase of VR content creator

• The FTC has withdrawn its opposition to Meta’s acquisition of VR content maker was completed in February.
• Meta said in a statement “excited” to have completed the purchase.
• The FTC did not file an appeal, and the transaction was completed in February.

The US government announced on Friday that it has formally ended its efforts to prevent Facebook parent Meta Platforms Corp (META.O) from acquiring virtual reality (VR) content maker Inside Limitless.

The Federal Trade Commission (FTC), which lost a legal battle to stop the acquisition, announced in a filing that it has chosen to formally withdraw its opposition.

The FTC sued Meta in July to prevent the Inside acquisition, claiming that Meta’s acquisition would decrease competition in a new market. According to reports, Inside, which produces Supernatural fitness routines, sold for around $400 million.

The FTC’s objections were dismissed by Judge Edward Davila of the United States District Court for the Northern District of California, who declined to issue a preliminary injunction. The FTC did not file an appeal, and the transaction was completed in February.

The FTC’s effort was viewed as a test of the agency’s ability to prevent Meta from purchasing minor potential competitors.

Meta said in a statement that it was “excited” to have completed the purchase of Inside.

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