UK competition watchdog orders Meta to sell Giphy
(iMore iPhone)

`...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...