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The CMA has provisionally found Facebook’s merger with Giphy will harm competition between social media platforms and remove a potential challenger in the display advertising market.
The CMA requires Facebook (which has recently renamed itself ‘Meta’) to sell Giphy, after finding that the deal could harm social media users and UK advertisers.
The CMA finds that Meta’s purchase of Giphy would limit choice for UK social media users and reduce innovation in UK display advertising.
The CMA welcomes the CAT’s resounding endorsement of the CMA’s assessment of how the merger would harm competition.
The CMA has found that Facebook’s completed acquisition of Giphy raises competition concerns in relation to digital advertising and the supply of GIFs.
The CMA welcomes today’s Competition Appeal Tribunal judgment which dismissed all of Facebook’s grounds of appeal.
Employment Tribunal decision.
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