Giphy

In a significant decision, the Competition and Markets Authority (CMA) in the UK on Tuesday ordered Meta (formerly Facebook) to sell off online database and search engine Giphy it acquired for $315 million. The competition watchdog found…

Meta, the parent company of Facebook, has been ordered to sell Giphy due to the "risk of a substantial lessening of competition in the social media and display advertising market."As reported by CNBC, U.K. competition regulators…

Meta has largely failed in an appeal against the UK competition regulator’s ruling that it must sell online image platform Giphy, in a blow to the social media giant’s hopes to add services that would benefit its billions of users.…

Breadcrumb Trail Links PMN Technology PMN Business Author of the article: Publishing date: Apr 25, 2022  •  17 minutes ago  •  2 minute read  •  Join the conversation Article content LONDON — Facebook owner…

Image: Aytac Unal/Anadolu Agency via Getty Images…

© Reuters. FILE PHOTO: A 3D printed Facebook's new rebrand logo Meta is seen in this illustration taken on November 2, 2021. REUTERS/Dado Ruvic/Illustration LONDON (Reuters) -Facebook-owner Meta has applied to appeal a British…

This concern, however, only formed half of the CMA’s argument. While cautioning about reduced competition between social media platforms, the regulator simultaneously warned about its impact on a market which doesn’t yet exist. The CMA said…

The UK competition watchdog has directed Facebook, which was recently renamed to Meta, to sell Giphy, after concluding that the social media…

London, November 30 The United Kingdom’s antitrust watchdog has blocked Facebook’s acquisition of Giphy and ordered the social network to sell off the GIF-sharing platform, saying the deal…

© Reuters. FILE PHOTO: A 3D printed Facebook's new rebrand logo Meta and Facebook logo are seen in this illustration taken on November 2, 2021. REUTERS/Dado Ruvic/Illustration (Reuters) -Britain's competition regulator has told…