Meta is once again at risk of getting fined heavily by the European Commission, as the bloc’s regulatory arm is preparing its findings that Meta linked its Marketplace service to Facebook to undermine competitors, as reported by the Financial Times. If found guilty, Meta could face a fine of up to 10 percent of its almost $135 billion global annual revenue, although the actual amount could be smaller, with Meta likely to appeal. The Commission’s initial probe in 2019 revealed Meta’s alleged illegal practices, tying its dominant social network Facebook to its online classified ad services. Meta also faces investigations into its election policies, addiction and safety concerns for minors, and its consent or pay model. This news comes during a transitionary time for the European Commission, with President Ursula von der Leyen announcing her new team just yesterday, which will see Margrethe Vestager replaced by Teresa Ribera. Reports of Vestager stepping down later this year first surfaced in August.
