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Facebook parent Meta admits defeat after $400 million Giphy deal is blocked by UK regulators

Por: CNBC Tech October 18, 2022

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The logos of Facebook and Giphy.Aytac Unal Anadolu Agency via Getty Images, the owner of Facebook, admitted defeat Tuesday after U.K. competition regulators issued a final verdict ordering the company to sell its animated image-making unit Giphy.Citing the risk of a substantial lessening of competition in the social media and display advertising market, the Competition and Markets Authority said Tuesday that Meta must sell GIPHY, in its... + full article



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