Meta will have to sell Giphy after losing UK appeal
. While the CMA reviewed the decision in July after the tribunal sided with Meta on one issue , it found that the deal could still hurt competition by limiting rivals' access to Giphy GIFs, requiring unfavorable terms and reducing digital advertising choices.in May 2020 at an unofficially estimated price of $400 million. The company hoped the purchase would improve finding GIFs and stickers in Instagram's Stories and direct messaging.
A Meta spokesperson told Engadget the company was"disappointed" with the CMA's decision, but that it would honor the outcome and cooperate on selling Giphy. The social network operator added it would still consider acquisitions to provide more"innovation and choice."You can disable notifications at any time in your settings menu.
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