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Giphy

Meta ordered to sell Giphy over monopoly concerns

UK’s Competition and Markets Authority has ordered Meta to sell Giphy after determining the deal could remove a potential competitor. The parent company of Facebook has accepted the verdict and will work closely with the CMA to undo the 2020 acquisition. The Zuckerberg owned company has been facing allegations of…
bubmag
October 19, 2022
Giphy

Meta to sell Giphy, by order of UK competition watchdog

Meta will accept a ruling by UK watchdog company ordering it to sell Giphy, the animated GIF library. What happened. Meta was originally ordered to sell Giphy last year but they appealed. Today, the UK’s Competition and Markets Authority (CMA) announced that Meta had failed on five of the six…
bubmag
October 18, 2022
Giphy

Meta was ordered to sell off its GIF empire

The UK’s antitrust authority finalized its decision to force Facebook parent company Meta to sell off Giphy, the GIF search engine and database it bought for $315 million in 2020. In a press release, the Competition and Markets Authority (CMA) said that Meta’s takeover of Giphy could decrease competitors’ access…
bubmag
October 18, 2022
Giphy

UK tribunal quashes Meta-Giphy deal block, regulator to reconsider ruling

LONDON: Britain's competition regulator said on Monday (Jul 18) it would carry out another review of Facebook owner Meta's acquisition of Giphy after a tribunal quashed its original decision to block it. Britain's Competition and Markets Authority (CMA) last year ordered Meta to sell animated images platform Giphy, which it…
bubmag
July 18, 2022
Giphy

Meta fails to overturn Giphy sale order by UK competition regulator

Choose your subscription Trial Try full digital access and see why over 1 million readers subscribe to the FT For 4 weeks receive unlimited Premium digital access to the FT's trusted, award-winning business news Digital Be informed with the essential news and opinion MyFT – track the topics most important…
bubmag
June 14, 2022
Giphy

UK regulator ‘broke international law’, says Facebook

Facebook claimed in court today that Britain's Competition and Markets Authority (CMA) broke international law when it blocked the ad company's $400m buyout of Giphy. Facebook tried to acquire the animated images provider in May 2020 for $400m. The UK competition body, the CMA, stepped in last year to block…
bubmag
February 15, 2022
Giphy

Austrian Antitrust Court Gives Green Light to Facebook’s Giphy Deal

Facebook's logo on a smartphone screen in Moscow, Russia, on Oct. 12, 2021. (Kirill Kudryavtsev/AFP via Getty Images) VIENNA—An antitrust court in Austria on Monday approved with conditions Facebook’s purchase of animated images platform Giphy, in a boost for the social media giant after a UK watchdog said the deal…
bubmag
February 7, 2022