Facebook Fights Watchdog For Blocking $400M Giphy Deal

By Christopher Crosby (January 6, 2022, 12:34 PM GMT) -- The owner of Facebook has formally lodged an appeal with a British court, challenging findings by the antitrust watchdog that it must sell an online image platform over concerns that it could stifle competition in digital advertising.

The social media giant, which is owned by Meta Platforms Inc., outlined its reasons for contesting the Competition and Markets Authority's decision to block its $400 million acquisition of Giphy in 2020, according to a summary of the case published by the competition court on Wednesday. 

The company announced last month that it would fight the watchdog's decision after the CMA said that the deal would reduce competition...

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