![]() This deal would significantly reduce competition in two markets. In a statement, Stuart McIntosh, chair of the independent inquiry group carrying out the remittal investigation, added: changing the terms of access - for example, it could require Giphy customers, such as TikTok, Twitter and Snapchat, to provide more data from U.K.denying or limiting other social media platforms’ access to Giphy GIFs, thereby pushing people to Meta-owned sites, which already make up 73% of user time spent on social media in the U.K., or. ![]() The review concluded that Meta would be able to increase its already significant market power by: In a press release announcing the final decision, the CMA said its independent panel has spent the last three months analyzing additional third-party evidence and new submissions from Meta and Giphy. social media users and reduce innovation in U.K. The CMA’s reassessment affirms its earlier view that Meta’s purchase of Giphy would limit choice for U.K. So today’s news should shock precisely no one. The decision follows a ‘stay of execution’ for Meta this summer, after the U.K.’s Competition Appeal Tribunal sent the case back to the antitrust regulator to be reassessed following a procedural finding that the Competition and Markets Authority (CMA) had not provided full, unredacted disclosure to Meta representatives of documents related to its decision.īut the tribunal upheld the CMA’s decision on five of the six challenged grounds - saying it had “no hesitation” in concluding that the regulator’s finding that the merger substantially reduced dynamic competition was lawful. Bye-bye: Meta has again been ordered by the U.K.’s competition watchdog to sell animated GIF platform Giphy.
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