Facebook faces possible FTC action in antitrust probe: report
FOX Business’ Charlie Gasparino reports some Facebook investors are worried about Mark Zuckerberg and Sheryl Sandberg’s leadership at the company, especially as Washington, D.C. calls to break up big tech and Twitter ends political advertising.
The Federal Trade Commission, in its antitrust investigation into social media giant Facebook, is considering taking action against the company in regards to how its products interact, The Wall Street Journal reported Thursday.
The FTC is considering seeking a preliminary injunction against Facebook over how it integrates its apps, people familiar with the matter told the publication.
Facebook shares fell on the report.
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A preliminary injunction would prevent the company from pursuing certain actions. According to the Journal, it could prevent Facebook from further integrating apps that regulators may later unwind as a “potential future breakup of the company.”
Facebook owns Instagram, WhatsApp and Messenger. The way these products interact is what is considered potentially anti-competitive in nature.
Facebook did not immediately return FOX Business’ request for comment.
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Sources told the Journal that if the FTC decides to move on an injunction or antitrust action, it could occur as soon as next month.
The FTC declined to comment.
The Department of Justice is also looking into Facebook over potential antitrust concerns.
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In July, the FTC approved a $5 billion fine against the social media company over how it handled users’ personal information.
Meanwhile, discussions are rumbling about potentially breaking up the country’s largest tech companies, including Facebook. Massachusetts Sen. Elizabeth Warren, who is seeking the Democratic Party nomination in 2020, released a plan in March to break up companies that have “too much power” and have “bulldozed competition.”
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