Meta Agrees To Sell Giphy

Meta Agrees To Sell Giphy

Meta Agrees , To Sell Giphy.

AP reports that on Oct.

18, Meta agreed to sell Giphy after failing to prove to U.K. regulators that the deal wouldn't hurt competition and innovation.

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AP reports that on Oct.

18, Meta agreed to sell Giphy after failing to prove to U.K. regulators that the deal wouldn't hurt competition and innovation.

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The Competition and Markets Authority said that , “the only way to avoid the significant impact the deal would have on competition” is for the Facebook parent company to sell the GIF-sharing platform to an approved buyer.

The Competition and Markets Authority said that , “the only way to avoid the significant impact the deal would have on competition” is for the Facebook parent company to sell the GIF-sharing platform to an approved buyer.

Meta agreed that it wouldn't file another appeal and issued a statement.

We are disappointed by the CMA’s decision but accept today’s ruling as the final word on the matter, Meta, via statement.

We will work closely with the CMA on divesting GIPHY, Meta, via statement.

We will continue to evaluate opportunities — including through acquisition — to bring innovation and choice to more people in the U.K. and around the world, Meta, via statement.

Meta's Giphy deal was reportedly worth $400 million.

The Competition and Markets Authority has also opened investigations into Microsoft's acquisition of Activision Blizzard and Amazon's continued dominance.

The Competition and Markets Authority has also opened investigations into Microsoft's acquisition of Activision Blizzard and Amazon's continued dominance.

The Competition and Markets Authority has also opened investigations into Microsoft's acquisition of Activision Blizzard and Amazon's continued dominance