On Nov. 18, 2025, a federal judge found that Meta did not illegally suppress competition when it acquired Instagram and WhatsApp, delivering a significant victory to the $1.51 trillion company. Judge James E. Boasberg issued an 89-page opinion rejecting the Federal Trade Commission’s claim that the deals amounted to an illegal “buy-or-bury” strategy. The decision removes a legal threat that could have forced divestiture and clears a path for Meta’s ongoing business plans, including investments in artificial intelligence. Regulators said the ruling represents a setback for efforts to rein in large technology platforms.
Key Takeaways
- The ruling was issued on Nov. 18, 2025, in the U.S. District Court for the District of Columbia by Judge James E. Boasberg.
- Judge Boasberg wrote an 89-page opinion concluding Meta did not create a monopoly in social networking by buying Instagram and WhatsApp.
- The Federal Trade Commission had alleged the acquisitions were part of a “buy-or-bury” strategy to eliminate nascent rivals.
- Meta’s market value referenced in reporting is $1.51 trillion; the decision preserves its ability to operate both apps without a forced divestiture.
- The ruling contrasts with recent government antitrust wins against Google and arrives while other major tech cases remain pending, including an Amazon trial set for 2027.
- Meta and the F.T.C. did not issue immediate public responses to requests for comment following the decision.
Background
Regulators have intensified scrutiny of large technology platforms in recent years, arguing that acquisitions of smaller rivals can entrench dominant firms and harm competition. The Federal Trade Commission’s lawsuit claimed that Meta purchased Instagram and WhatsApp to neutralize potential threats rather than to expand legitimate products or services, invoking a “buy-or-bury” theory of harm. That theory asks whether a dominant firm’s purchases of emerging competitors remove future competitive pressure and thereby maintain or strengthen a monopoly position.
Meta countered that social networking is a highly competitive space with multiple rivals—ranging from long-established platforms to newer entrants like TikTok and YouTube—and that the company’s resources allowed Instagram and WhatsApp to scale and improve. The case followed years of regulatory activity focused on Big Tech: the Department of Justice has secured judgments against Google in search and advertising matters, and the government has pursued other cases against major platforms. The FTC had sought preemptive relief, asking the court to require divestitures if it found anticompetitive conduct.
Main Event
The trial examined whether Meta’s acquisitions of Instagram (acquired in 2012) and WhatsApp (acquired in 2014) were intended and effective at removing future competition in social networking. Over multiple days in court, lawyers for the F.T.C. presented internal documents and testimony they said showed Meta’s intent to neutralize threats; Meta’s defense emphasized the competitive pressures the company faces today and the benefits its capital brought to the acquired apps. Judge Boasberg evaluated those factual claims against legal standards for monopoly power and anticompetitive effect.
In an 89-page written opinion, the judge concluded the FTC had not proven that Meta created or maintained a monopoly in social networking through the two acquisitions. The ruling specifically addressed market definition, competitive dynamics, and the timing and impact of the deals. It found that the evidence did not support the conclusion that Meta’s actions unlawfully foreclosed competition across the relevant market definition the commission advocated.
The decision effectively denied the FTC’s request to force Meta to divest Instagram and WhatsApp, preserving Meta’s corporate structure and strategic plans. Practically, the ruling reduces the immediate legal risk to Meta’s product roadmap and its resources devoted to integrating and expanding services across its platforms, including investments related to artificial intelligence.
Analysis & Implications
Legally, the ruling underscores the difficulty regulators face in proving that acquisitions of nascent rivals constitute unlawful maintenance of monopoly power. Courts require rigorous proof of monopoly power in a properly defined market and clear evidence that an acquisition substantially harms competition. Judge Boasberg’s opinion indicates a high evidentiary bar remains for “buy-or-bury” claims in merger and acquisition contexts.
For policy and enforcement, the decision is a setback for the F.T.C.’s broader agenda to limit consolidation among major technology firms. Agencies may respond by refining theories of harm, pursuing conduct cases instead of structural remedies, or focusing on merger reviews before deals close. The ruling does not foreclose future enforcement actions, but it will likely influence how plaintiffs and regulators frame similar cases going forward.
Economically, the outcome preserves Meta’s ability to integrate services and invest in cross-platform features, which could accelerate product development and AI initiatives that rely on large-scale data and engineering resources. Critics will argue that preservation of scale may still dampen competition over time, while proponents contend that integration delivered consumer benefits that might not have emerged under separate ownership.
Comparison & Data
| Year | Deal | Known Price | Immediate Legal Outcome |
|---|---|---|---|
| 2012 | Instagram acquisition | Approximately $1 billion | Remains with Meta; central to FTC claim |
| 2014 | WhatsApp acquisition | Approximately $19 billion | Remains with Meta; central to FTC claim |
| 2025 | FTC antitrust trial ruling | — | Judge found no unlawful monopoly; no divestiture ordered |
The table summarizes the two headline acquisitions often cited in debates about platform consolidation and the court’s subsequent 2025 decision. While price tags (2012 and 2014) are widely reported historical facts, the central legal question in 2025 focused on market definition and competitive effects rather than the dollar amounts paid a decade earlier.
Reactions & Quotes
Below are representative, concise statements drawn from public filings and reporting, with context about each speaker’s perspective.
Judge Boasberg summarized the court’s view that the FTC had not met its burden to prove Meta’s acquisitions unlawfully preserved a monopoly.
Judge James E. Boasberg
The judge’s writing emphasized legal standards for monopoly and evidence; his conclusion turned on whether the FTC proved both a properly defined market and that Meta’s purchases caused anticompetitive harm.
The Federal Trade Commission argued at trial that Meta’s purchases of emerging rivals were intended to remove nascent competition and protect its dominance.
Federal Trade Commission (FTC)
The FTC framed its case around internal Meta documents and market analysis, seeking structural relief. The court, however, found those materials insufficient to establish the specific legal elements required for a remedy.
Unconfirmed
- Whether the FTC will appeal Judge Boasberg’s ruling and on which legal theories an appeal would rest is not yet confirmed.
- It is unclear how this decision will change the FTC’s internal strategy for future merger challenges; any adjustments have not been publicly disclosed.
Bottom Line
The Nov. 18, 2025 ruling is a clear legal win for Meta: a federal judge found the commission did not prove the company had violated antitrust law by acquiring Instagram and WhatsApp. The decision preserves Meta’s ownership of both apps and reduces the immediate risk of structural remedies that could have forced divestiture.
For regulators and antitrust advocates, the ruling highlights the evidentiary challenges in proving “buy-or-bury” theories in court. While the decision does not foreclose future enforcement or changes in merger policy, it will influence how agencies frame cases and what evidence they prioritize in litigation and merger review going forward.