The UK’s best competition regulators have instructed Meta Platforms Inc. (formerly Facebook) to sell social media animated image company Giphy, which could limit competition between platforms and UK advertisers. Said.
Facebook Purchased Giphy in May 2020 For $ 315 million, according to a document published as part of a transaction review by the Competition and Markets Authority. In progress since last year. Regulators said Tuesday that the deal eliminated Giphy as a potential challenger, especially in the display advertising market, in line with preliminary findings released in August.
Facebook was told by UK regulators to sell Giphy
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