Meta CEO Mark Zuckerberg had offered to settle the antitrust case with a $450M payment in late March, much less than $30B demanded by the FTC, The Wall Street Journal’s Dana Mattioli, Rebecca Ballhaus, and Josh Dawsey report, citing a person familiar with Meta‘s position in the latest negotiations. Zuckerberg was confident that President Trump would back him up with the FTC, as he had been developing closer ties to Trump, but FTC Chairman Ferguson found the offer not credible, and wasn’t willing settle for anything less than $18B and a consent decree, the report states. Former FTC Chair Lina Khan has also called the $450M settlement offer “delusional”, Wall Street Journal writes.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on META:
- Meta Platforms (META) Can Withstand an Advertising Slowdown, Says Citigroup
- Zuckerberg Admits He Bought Instagram (META) Because Its Camera Was Better
- OpenAI working on X-like social network, Verge reports
- Why TSMC’s Stock Dive is a Blessing in Disguise
- Meta Grabs EU Approval to Train AI with Social Media Posts