Responding to the CMA’s provisional findings in August, which indicated that a sell-off of Giphy was the only option, it accused the UK regulator of “engaging in extraterritorial over-reach”.Pine trees are conifers (cone bearing) and carry both male and female sporophylls on the same mature sporophyte. Together, Meta and Giphy would enhance Giphy’s product for the millions of people, businesses, developers and partners in the UK and around the world who use Giphy every day, providing more choices for everyone.” Both consumers and Giphy are better off with the support of our infrastructure, talent, and resources.
“We are reviewing the decision and considering all options, including appeal. “We disagree with this decision,” said a spokesperson for Meta. Meta, which is considering appealing against the decision, said that the deal would be good for Giphy, consumers and businesses. “Without action, it will also allow Facebook to increase its significant market power in social media even further, through controlling competitors’ access to Giphy gifs.” “By requiring Facebook to sell Giphy, we are protecting millions of social media users and promoting competition and innovation in digital advertising,” said Stuart McIntosh, chair of the independent inquiry group that carried out the CMA’s in-depth investigation into the deal. The CMA said it was “particularly concerning” that Facebook terminated Giphy’s advertising services, which the company was poised to expand, at the time of the merger. The CMA said that a takeover would also remove a potential competitor from the £7bn UK display advertising market, where Facebook is the biggest player accounting for about half the market. The regulator said Meta could cut off the supply of gifs to rivals, or demand more user data from them in order to keep using Giphy. 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 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”.
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.
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