Meta Wins Court Nod to Buy Virtual Reality Startup in Loss for Khan’s FTC
- Judge paused Meta from closing deal while FTC considers appeal
- Decision represents first major loss for FTC Chair Lina Khan
Photographer: Jason Alden/Bloomberg
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Meta Platforms Inc. won court approval to buy virtual reality startup Within Unlimited, defeating an effort to block the deal by the US Federal Trade Commission, according to people familiar with the ruling.
In a sealed decision early Wednesday morning, US District Judge Edward Davila in San Jose, California, denied the FTC’s request for a preliminary injunction to block the proposed transaction while the agency pursues a separate case in its in-house court. He separately issued a temporary restraining order pausing Meta from closing the transaction for a week while the FTC decides whether to appeal his ruling.