Platforms

British Competition Authority Rules Meta Must Sell Giphy

The $400 million merger, completed in May 2020, has been ruled as anticompetitive in the U.K.

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Meta Platforms, previously Facebook, has been ordered to sell digital platform Giphy by the British competition watchdog which has ruled that the $400 million merger “has resulted or would result in a substantial lessening of competition.”

The Competition and Markets Authority (CMA) has said that the merger that was announced in May 2020 is anticompetitive within the field of social media and display advertising, claiming that it could harm social media users and businesses in the U.K.

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