Meta this week accepted a reissued ruling by the British competition regulator to divest itself of its social media animation unit, Giphy.
The decision by the Competition and Markets Authority (CMA) was first announced last year, which Meta unsuccessfully appealed.
The CMA again declared on Oct. 18, that Meta’s acquisition of Giphy would allow it to “limit other social media platforms’ access to GIFs, making those sites less attractive to users and less competitive.”
Citing the risk of ownership towards competition in social media and display advertising, the government authority said that Meta must “sell GIPHY, in its entirety, to a suitable buyer,” saying that this was its “final decision.”…