One of Meta’s big purchases will have to be unwound. After losing its case at the Competition Appeal Tribunal, the UK’s Competition and Markets Authority (CMA) regulator has forced Meta to sell Giphy. While the CMA reviewed the decision in July after the tribunal sided with Meta on one issue (sharing sensitive third-party information), it concluded that the agreement could still harm competition by restricting rivals’ access to Giphy GIFs, requiring unfavorable terms, and reducing digital advertising options.
