Mark Zuckerberg offered $1 billion to settle FTC antitrust case: Report

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As Meta Platforms battles the US Federal Trade Commission (FTC) in a closely watched antitrust trial, a Wall Street Journal (WSJ) report has revealed that chief executive officer Mark Zuckerberg had offered up to $1 billion to settle the case earlier this year.

The report added that in March, Zuckerberg reportedly approached FTC chairman Andrew Ferguson with an initial offer of $450 million. As the trial date neared, that offer was increased to $1 billion.

However, the FTC rejected both proposals, with Ferguson said to be holding out for a minimum of…



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Mark Zuckerberg offered $1 billion to settle FTC antitrust case: Report


As Meta Platforms battles the US Federal Trade Commission (FTC) in a closely watched antitrust trial, a Wall Street Journal (WSJ) report has revealed that chief executive officer Mark Zuckerberg had offered up to $1 billion to settle the case earlier this year.

The report added that in March, Zuckerberg reportedly approached FTC chairman Andrew Ferguson with an initial offer of $450 million. As the trial date neared, that offer was increased to $1 billion.

However, the FTC rejected both proposals, with Ferguson said to be holding out for a minimum of…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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