Facebook ‘negotiating’ with FTC on mega fine

Tony Romm at the Washington Post with the latest on the the FTC’s investigation into Facebook:

The fine would be the largest the agency has ever imposed on a technology company, but the two sides have not yet agreed on an exact amount. Facebook has expressed initial concern with the FTC’s demands, one of the people said. If talks break down, the FTC could take the matter to court in what would likely be a bruising legal fight.

The two people familiar with the probe spoke on the condition of anonymity because they were not authorized to discuss the private talks. Facebook confirmed it is in discussions with the agency but declined to comment further. The FTC declined to comment.

“Largest ever imposed on a technology company” leaves quite a lot of room for speculation, but means it’s likely Facebook isn’t quite staring down a $14bn-or-so fine like Volkswagen did in 2016.

Facebook should take the hit, argues Recode’s Kara Swisher: