The UK Competition Authority orders a Big Tech company to sell a GIF database on the belief that permitting the merger would limit innovation and reduce competition in the display advertising market (Meta / Giphy)

CMA orders Meta to sell Giphy* The CMA finds that Meta’s purchase of Giphy would limit choice for UK social media users and reduce innovation in UK display advertising. The Competition and Markets Authority (CMA) has found that Meta’s takeover of Giphy could allow Meta to limit other social media platforms’ access to GIFs, making those sites less attractive to users and less competitive. It also found the deal has removed Giphy as a potential challenger in the UK display advertising market, preventing UK businesses from benefiting from innovation in this