According to a recent report, the Justice Department is opening an antitrust investigation into the Masters of the Universe at Facebook.
Reuters reports that the DOJ will soon open an antitrust investigation of Facebook according to an individual with knowledge of the matter, making this the fourth probe of the social media giant. The FTC is also conducting a probe alongside a group of state attorneys general led by New York and the House of Representatives Judiciary Committee.
Investigations into the Silicon Valley tech giants were first discussed in June as government regulators began to question if multiple tech giants such as Amazon, Facebook, and Google had violated antitrust laws.
FTC Chairman Joe Simons has expressed interest in the past in investigating how Silicon Valley companies have changed the competitive landscape. Simons said in a Georgetown University speech last September: “It makes sense for the antitrust authorities to look in places where there might be significant market power, to ensure that such firms compete on the merits — and that might include some of the significant high-tech platforms.” A week later he told a Senate antitrust subcommittee: “This is something that is a priority for us.”
Data from S&P Global showed that since 2003, Facebook has purchased 90 companies adding to worries that the firm is edging out competitors. The probe into Facebook by the state attorneys general announced earlier this month is being led by New York and includes Colorado, Florida, Iowa, Nebraska, North Carolina, Ohio, Tennessee and the District of Columbia.