CMA directs Facebook to sell Giphy* The CMA requires Facebook (which has recently renamed itself ‘Meta’) to sell Giphy, after finding that the deal could harm social media users and UK advertisers. 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
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The UK Competition Authority requires a Big Tech company to sell a GIF creation platform it acquired after finding that the deal could harm social media users and national advertisers (Meta / Giphy)
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