Facebook owner Meta ordered to sell gif search engine Giphy
A UK watchdog has ordered Facebook’s parent company Meta to sell Giphy, the largest supplier of gifs to social media websites.
It is the first time that the Competition and Markets Authority (CMA) has blocked a deal made by a Silicon Valley company.
The CMA found that Meta’s takeover of Giphy “could allow Meta to limit other social media platforms’ access to GIFs, making those sites less attractive to users and less competitive.”
“We are disappointed by the CMA’s decision but accept today’s ruling as the final word on the matter,” a Meta spokesperson said.
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