Facebook rapped by UK watchdog
By Richard Wright | 1st December 2021
Facebook has been told to sell the animated image database firm Giphy by a UK watchdog because it's threatening competition.
The Competition and Markets Authority has told Facebook's newly-named parent company Meta the merger is unacceptable for UK internet-users.
Facebook acquired the gif producer for £290 million last year.
The CMA has already fined the internet giant £50 million for hindering investigations into the takeover by withholding information.
Alarm bells were raised because Giphy was the largest supplier of gifs for social media in the UK.
The takeover meant Facebook was able to control supply of these to other platforms in the lucrative £7 billion digital display advertising market in the UK, where Facebook already has more than half that market.
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