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UK competition regulator orders Facebook to sell GIF sharing platform Giphy

Shortpedia

Content Team
Image Credit: Shortpdia

The UK Competition and Market Authority (CMA) on Tuesday ordered Facebook to sell off Giphy, on the ground that the acquisition of the animated graphic sharing platform by the US company would increase its already significant market power in detriment of other social media platforms. According to the CMA, the merger will deny or limit other platforms' access to Giphy GIFs, driving more traffic to Facebook-owned social media platforms.