Thursday, September 29 at 2:00 pm ET
CLICK HERE for event details (includes video and materials link)
The Federal Trade Commission has an ambitious agenda to curtail the market power of big tech platforms. We'll spend about 30 minutes with former FTC General Counsel Alden Abbott to assess the likely outcome of several major FTC Proceedings:
- Microsoft's (MSFT) proposed acquisition of Activision Blizzard (ATVI): The FTC is reviewing this $69 billion transaction ($95 cash per ATVI share) and will soon decide whether to allow it or challenge it. How strong is a case to block the deal? Will regulators demand and accept a Microsoft commitment to license "Call of Duty" and other Activision games to rival platforms as a condition for approval?
- Amazon's (AMZN) acquisition strategy: Amazon recently acquired MGM Studios. It has proposed the acquisition of One Medical (ONEM) (healthcare) and iRobot (IRBT) (robotic devices) at a time when progressive antitrust reformers want tougher scrutiny of conglomerate mergers and deals powering big tech entry in adjacent markets. Is the FTC ready and able to put a stop to Amazon's acquisition strategy?
- Antitrust case against Facebook (META) to force Instagram and WhatsApp divestitures: The FTC hopes a federal district court in DC will ultimately conclude the Instagram and WhatsApp acquisitions were components of illegal monopolizing conduct, justifying breakup and divestiture remedies. Will the FTC prevail?
- Commercial surveillance rulemaking: The FTC is working on rules that could limit commercial surveillance, the collection of user data that supports targeted digital advertising by Facebook (META), Google (GOOGL) and other tech platforms. The FTC Chair has hinted that a prohibition or severe restriction on targeted advertising would reduce pernicious incentives to accumulate personal data on platform users. When will final rules be adopted and can they survive a federal court challenge?
* Alden Abbott is a Senior Research Fellow at George Mason University's Mercatus Center, focusing on antitrust issues. Before joining Mercatus, Mr. Abbott served as the Federal Trade Commission’s General Counsel from 2018 to early 2021, where he represented the Commission in court and provided legal advice to commissioners and staff. Prior to his appointment to the FTC, Mr. Abbott worked at the Heritage Foundation and BlackBerry Ltd. He also served as an adjunct professor at George Mason University's Antonin Scalia Law School from 1991 to 2018. Mr. Abbott earned his J.D. from Harvard Law School and received an M.A. in economics from Georgetown University.
