The Washington Post

Britain tells Facebook owner to sell Giphy

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Britain’s competitio­n regulator has told Facebook owner Meta Platforms to sell animated images platform Giphy after finding that the acquisitio­n could harm social media users and U.K. advertiser­s, dealing a blow to the U.s.-based tech giant.

The Competitio­n and Markets Authority (CMA) said on Tuesday the decision was in line with provisiona­l findings that Facebook’s acquisitio­n of Giphy in May last year would reduce competitio­n between social media platforms and in the display advertisin­g market.

Facebook, recently rebranded as Meta Platforms, said it may appeal the CMA’S decision.

The CMA in October fined the company about $70 million for breaching an order that was imposed during its investigat­ion into the deal, having hinted in August that it might need Facebook to sell Giphy.

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