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Facebook Owner Meta Must Sell Giphy on Competition Concerns, U.K. Says

  • First time a major regulator ordered sale after deal closed
  • $315 million deal for GIF search engine completed last year
Giphy And Meta Photo Illustrations

Photographer: Jakub Porzycki/NurPhoto/Getty Images

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Britain’s antitrust watchdog ordered Facebook parent Meta Platforms Inc. to sell Giphy, the first time a global regulator has forced a Big Tech firm to unwind a completed deal. A turnaround after years of being allowed to swallow up smaller rivals with virtually no push back.

The Competition and Markets Authority found that last year’s $315 million tie up with the GIF search engine will reduce competition between social media platforms, according to a statement Tuesday.