The Competitions and Markets Authority has ordered Meta, the parent company of Facebook, to sell Giphy after it decided its $400m acquisition of the animated GIF creator platform will damage rivals, consumers and advertisers. The CMA concluded the purchase would deny or limit other platforms access to Giphy, while simultaneously requiring more user data to access Giphy GIFs. In requiring Meta to sell Giphy, the CMA "are protecting millions of social media users and promoting competition and innovation in digital advertising." The news follows a decision by the CMA last month to fine Facebook £50m for "consciously refusing to report all the required information" concerning its purchase of Giphy.
UPDATE:
- The Register reports on the decision, the background and highlights the likelihood of a potential appeal.
- Mischon de Reya published a legal summary of the decision.
- The Guardian follows up its reporting of the decision yesterday with a follow-up article highlighting that the UK watchdog has teeth.
- Privacy International released information about its submission to the CMA, outlining several issues with the proposed merger, including the protection of "meaningful privacy options to consumers."
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