FTC to investigate Facebook purchase of Instagram

U.S. antitrust regulators sent a "second notice" to Facebook earlier this month regarding investigation, according to Reuters.

U.S. antitrust regulators are hitting Facebook with more post-IPO angst.

The Federal Trade Commission is looking to give Facebook's proposed Instagram purchase "a lengthy investigation," Reuters reported today.

The commission sent a second request, dated May 16, to Facebook instructing the social-networking company to provide large amounts of data that the "regulators will sift through to ensure that the deal complies with antitrust law," according to an unnamed source.

This only heightens Facebook's woes, as the company's stock continues to slide, taking tens of millions off its $1 billion deal to buy Instagram .

About the author

Donna Tam covers Amazon and other fun stuff for CNET News. She is a San Francisco native who enjoys feasting, merrymaking, checking her Gmail and reading her Kindle.

 

Join the discussion

Conversation powered by Livefyre

Show Comments Hide Comments
Latest Galleries from CNET
ZTE's wallet-friendly Grand X (pictures)
Lenovo reprises clever design for the Yoga Tablet 2 (Pictures)
Top-rated reviews of the week (pictures)
Best iPhone 6 and iPhone 6 Plus cases
Make your own 'Star Wars' snowflakes (pictures)
Bento boxes and gear for hungry geeks (pictures)