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The U.S. Federal Trade Commission on Tuesday asked a judge to put a hold on Meta Platforms Inc’s META-Q deal to buy virtual reality app maker Within Unlimited while the two sides await a decision from the court.

The FTC sued the Facebook and Instagram owner in July to stop the Within deal and asked the judge to order a preliminary injunction, saying Meta’s “campaign to conquer VR” began in 2014 when it acquired Oculus, a VR headset manufacturer. There was a trial on the case in December.

The agency asked for the court to order Meta to refrain from closing its deal for Within until 11:59 p.m. Pacific time on the first business day after the judge rules on whether the deal may go forward. Or, the agency said in a court filing, the judge could extend the existing temporary restraining order for 7 days.

The current restraining order expires at 11:59 Pacific time Tuesday night.

The fight to determine if Meta could go forward with this relatively small deal is seen as a test of the FTC’s bid to head off what it sees as a repeat of the company acquiring small upcoming would-be rivals to secure dominance, this time in the nascent virtual and augmented reality markets.

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Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 12/06/24 0:13pm EDT.

SymbolName% changeLast
META-Q
Meta Platforms Inc
-0.23%506.31

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