UK competition watchdog orders Meta to sell Giphy"...the CMA has concluded that its competition concerns can only be addressed by Facebook selling Giphy in its entirety to an approved buyer."
What you need to know
Facebook parent company Meta is being forced to sell Giphy.
The UK's Competition and Market Authority says the acquisition could allow Facebook to significantly increase its market power in social media.
Specifically by denying access to GIFs on platforms that aren't owned by Facebook.
The UK's Competition and Markets Authority has ordered Facebook parent company, Meta, to sell Giphy.
The CMA stated today:
In line with its Phase 2 provisional findings issued in August, the Competition and Markets Authority (CMA) has today concluded that Facebook's acquisition of Giphy would reduce competition between social media platforms and that the deal has already removed Giphy as a potential challenger in the display advertising market.
The CMA says a review of the merger concluded Facebook would "be able to increase i...
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UK competition watchdog orders Meta to sell Giphy
