Comment on Facebook Owner Meta Must Sell Giphy on Competition Concerns, U.K. Says

Facebook Owner Meta Must Sell Giphy on Competition Concerns, U.K. Says

Britain’s antitrust watchdog ordered Facebook parent Meta Platforms Inc. to sell Giphy, the first time a global regulator has forced a Big Tech firm to unwind a completed deal. A turnaround after years of being allowed to swallow up smaller rivals with virtually no push back. The Competition and Markets Authority found that last year’s $315 million tie up with the GIF search engine will reduce competition between social media platforms, according to a statement Tuesday. It’s the first time a Big Tech firm has been ordered by regulators in Europe and the U.S.

 

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