UK competition watchdog orders Meta to sell gif website Giphy
Facebook parent company Meta has been ordered by the UK competition watchdog to sell the gif creation website Giphy, the first time the regulator has moved to block a deal struck by one of the Silicon Valley giants.
The Competition and Markets Authority, which provisionally ruled in August that a sell-off was the only way to resolve competition concerns, said the move would “protect millions of social media users” and stop Facebook “increasing its significant power in social media”.
The CMA launched an investigation last year into Meta’s $400m (£290m) takeover of Giphy, the largest supplier of animated gifs to social networks such as Snapchat, TikTok and Twitter, after identifying competition concerns.
The regulator said Meta could cut off the
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