U.S. House Antitrust Chairman Calls Unwinding Facebook’s Instagram Buy ‘The Right Answer’ | Technology News
October 8, 2020 | technology | No Comments
WASHINGTON (Reuters) – U.S. Representative David Cicilline, the chairman of the House Judiciary Committee’s antitrust subcommittee, said on Wednesday he would be “comfortable with unwinding” Facebook Inc’s acquisition of Instagram.
The antitrust subcommittee on Tuesday released a report on Big Tech’s abuses of market power but stopped short of naming specific companies or acquisitions that must be broken up.
Cicilline, a Democrat from Rhode Island, told Reuters in an interview that Facebook should not have been allowed to buy Instagram, a deal that the Federal Trade Commission approved in 2012.
“I would be comfortable with unwinding that. I think that’s the right answer,” he said.
Facebook did not immediately respond to a request for comment. It has said previously that Instagram was insignificant at the time it was purchased and that Facebook built it into the success it has become.
Any effort to unwind the deal would entail the government