On Tuesday the UK’s competition regulator said that it has directed Facebook to sell social-media animated images company Giphy after determining that the deal could harm social-media users and UK advertisers.
The Competition and Markets Authority said that the social media platform’s acquisition of Giphy would reduce competition between social-media platforms and that the deal has already removed Giphy as a potential challenger in the display advertising market, in-line with its provisional findings issued in August.
Related: UK Fines Facebook $69M For Breaching Order During Giphy Probe
After consulting with interested business and organizations, along with assessing alternative solutions, it has concluded that its competition concerns can only be addressed by the company selling Giphy in its entirety to another buyer.
“By requiring Facebook to sell Giphy, we are protecting millions of social media users and promoting competition and innovation in digital advertising,” said Stuart McIntosh, chairman of the independent inquiry group carrying out the investigation.
Giphy allows users to search for, create and share animated images known as GIFs, which stands for graphics interchange format. When Facebook bought Giphy last year, the company said it planned to integrate it into Instagram and other apps.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI