CMA Says Blocking Meta's GIF Deal Protects UK Consumers

By Joanne Faulkner (April 26, 2022, 4:21 PM BST) -- Britain's antitrust watchdog told a tribunal on Tuesday that Meta's acquisition of an online GIF creator removed a potential challenger in the U.K. advertising market as lawyers defended the decision to block the merger.

A lawyer for the competition watchdog has said the $315 million deal to merge Giphy into Meta products such as WhatsApp removed a potential competitor in display advertising. (AP Photo/Tony Avelar) Counsel for the Competition and Markets Authority told the tribunal that the purchase of Giphy by Facebook's parent company put an end to the development of rival technology. The lawyer for the regulator addressed the antitrust...

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