Although Meta may appeal the decision, the UK regulator’s decision sets a notable precedent for future big tech purchases. This would be the first time the CMA has attempted to unwind a completed acquisition by a tech giant, the Financial Times previously reported. “By requiring Facebook to sell Giphy, we are protecting millions of social media users and promoting competition and innovation in digital advertising,” McInosh said. “Without action, it will also allow Facebook to increase its significant market power in social media even further, through controlling competitors’ access to Giphy GIFs.” “The tie-up between Facebook and Giphy has already removed a potential challenger in the display advertising market,” the chair of the independent inquiry group Stuart McIntosh said in a statement, referring to Meta. “By requiring Facebook to sell Giphy, we are protecting millions of social media users”
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