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UK – Facebook must sell Giphy platform

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A British regulator ordered the social network to separate from the gifs platform bought in 2020.

Mark Zuckerberg, boss of the Meta group.

AFP

The British Competition and Markets Authority (CMA) on Tuesday ordered Facebook, recently renamed Meta, to sell its subsidiary Giphy because their merger “could harm social media users and advertisers in the UK”, according to a statement. This decision was anticipated Monday by the “Financial Times”.

Last month, the CMA fined the social media giant £ 50.5 million as part of its merger with Giphy, which specializes in short internet animations (Gif), for continuing to integrate the two companies despite an ongoing investigation.

(AFP)

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