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Tags: Britain | Facebook | Giphy

UK Watchdog Orders Facebook to Reverse Purchase of Giphy

Tuesday, 30 November 2021 06:02 AM

LONDON (AP) — The United Kingdom's antitrust watchdog has blocked Facebook's acquisition of GIF-sharing platform Giphy and ordered the social network to reverse the deal, saying it hurts social media users and advertisers by stifling competition for animated images.

The Competition and Markets Authority said Tuesday that the deal would let Facebook “increase its already significant market power” by denying or limiting other platforms' access to Giphy GIFs and driving traffic to Facebook-owned sites.

It's reportedly the first time the watchdog has sought to unwind a tech deal.

“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 group that carried out the investigation.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
The United Kingdom's antitrust watchdog has blocked Facebook's acquisition of GIF-sharing platform Giphy and ordered the social network to reverse the deal, saying it hurts social media users and advertisers by stifling competition for animated images. The Competition and...
Britain,Facebook,Giphy
121
2021-02-30
Tuesday, 30 November 2021 06:02 AM
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