Facebook parent company Meta Platforms defeated a U.S. attempt to unwind its acquisitions of Instagram and WhatsApp today when a federal judge ruled the company does not hold a social media monopoly.

The ruling gives Big Tech its first decisive win against the antitrust crackdown started in President Donald Trump’s first term, and is a major setback for the Federal Trade Commission, which is pursuing a separate antitrust case against Amazon.com. The agency sought to force Meta to restructure or sell Instagram and WhatsApp to restore competition, saying the company spent billions of dollars on the acquisitions to eliminate nascent competitors.

Meta shares pared losses after the news, and were down just under 1% in afternoon trading.

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