UK regulator the Competition and Markets Authority (CMA) has said that Facebook may have to sell Giphy. The social media giant rejected the preliminary findings, BBC News reported.
The Competition and Markets Authority provisionally found Facebook owning Giphy «could lead it to deny other platforms access to its Gifs». The CMA will now consult before making a final conclusion. And if its concerns are confirmed, the [sic] it may require Facebook to sell Giphy. Facebook said the findings were «not supported by the evidence». Giphy’s vast library of looping short video animations is hugely popular – including among Facebook’s competitors.
Check It Out: UK Regulator May Force Facebook to Sell Giphy
