Facebook Blasts UK Watchdog's Probe Of Giphy Deal

By Bryan Koenig (September 8, 2021, 8:42 PM EDT) -- Facebook Inc. assailed the United Kingdom's antitrust watchdog in a response made public Wednesday for what it characterized as a disproportionate, unnecessary and out-of-bounds bid to force the social media giant to unwind its 2020 acquisition of online image platform Giphy Inc.

Facebook's filing hinted at a direct response to Competitions and Markets Authority provisional findings that the company's $400 million acquisition of Giphy could prevent other social media platforms from accessing GIFs — short, looping videos without sound. But its primary purpose was to respond to the CMA's proposed remedies that would force Facebook to fully stand Giphy up on...

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