WASHINGTON—Shutterstock said Tuesday it’s buying Giphy from Meta Platforms for $53 million, the final step to unwind the deal blocked by British regulators, who prevented the Facebook owner from purchasing the GIF-sharing platform over competition concerns. The stock image service said it’s paying cash for Giphy, which has 1.7 billion daily users and partners including…
Meta Sells Giphy for $53 Million to Shutterstock After UK Blocked GIF Platform Purchase
‘Final Word’: Facebook Parent Meta Ordered to Sell Giphy After Landmark Ruling by UK Regulator
October 19, 2022
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Meta this week accepted a reissued ruling by the British competition regulator to divest itself of its social media animation unit, Giphy. The decision by the Competition and Markets Authority (CMA) was first announced last year, which Meta unsuccessfully appealed. The CMA again declared on Oct. 18, that Meta’s acquisition of Giphy would allow it to “limit…
Austrian Antitrust Court Gives Green Light to Facebook’s Giphy Deal
February 7, 2022
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VIENNA—An antitrust court in Austria on Monday approved with conditions Facebook’s purchase of animated images platform Giphy, in a boost for the social media giant after a UK watchdog said the deal should be reversed. Facebook bought Giphy, a website for making and sharing GIFs, a type of animated image used often in social media…
Facebook-Owner Meta Says It Will Pay New $2 Million UK Fine
LONDON—Britain’s competition regulator said on Friday it had fined Facebook-owner Meta 1.5 million pounds ($2 million) over fresh issues regarding its purchase of Giphy, a sanction that the U.S. firm said it would accept. Britain’s Competition and Markets Authority (CMA) has taken a tough line with major tech groups in recent years, investigating their dominance…
Facebook-Owner Meta Sets out Grounds for UK Appeal on Giphy
LONDON—Facebook-owner Meta has applied to appeal a British competition watchdog ruling that it must sell Giphy on grounds that include challenging the finding that the deal removed a potential competitor in display advertising. Meta said last month it had lodged an appeal against the decision by the Competition and Markets Authority (CMA) to block its…
Facebook Appeals UK Ruling That It Must Sell Giphy
LONDON—Facebook-owner Meta is appealing Britain’s ruling that it must sell animated images platform Giphy, saying the evidence does not support the finding that the deal is a threat to its rivals or could impact competition in display advertising. Britain’s Competition and Markets Authority (CMA) ordered Meta to sell Giphy, which it acquired for a reported…
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