FTC boss Khan shrugs off Microsoft, Meta defeats: 'Losing two is okay'
of VR firm Within), those are just two among 13 to 20 challenges her monopoly cops have successfully brought against takeovers in her time at the helm, depending on how you count.
"In the scheme of our merger enforcement program, losing two is okay," Khan said."Every time we have that kind of setback, we look very closely at where we could have done better, where we fell short, and use that to inform our approach going forward." Part of what has made the FTC's recent cases harder to fight, Khan said, is that many of them - particularly the Microsoft-Activision takeover – have involved vertical mergers, which involve companies absorbing other firms up and down their supply chain as opposed to direct competitors.
Khan, who was sworn in as FTC chair in 2021, said vertical mergers can be tougher to litigate, in large part because of four decades of antitrust enforcement that considered vertical mergers"Around 40 years ago … policymakers bought into a set of assumptions that markets tend to be perfectly competitive … that monopoly power is generally fleeting, and that a hands-off approach to antitrust competition policies would lead to great efficiencies that outweigh any cost," Khan said in her...
Fresh research points to the opposite, the FTC boss noted, adding that reports have"documented rising consolidation, declining competition, and a resulting assortment of economic ills and risks."
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