Facebook owner Meta told to sell Giphy as British regulator blocks acquisition
Meta, Facebook’s parent, has been told by the U.K.’s competition watchdog that it must sell GIF-sharing platform Giphy. The Competition and Markets Authority said Tuesday the deal could harm social media users and U.K. advertisers. Meta said that it disagrees with the decision and that it’s considering an appeal. The regulator concluded that Meta’s acquisition of Giphy would reduce competition between social media platforms. It added that the deal has already removed Giphy as a potential challenger in the display ad market.