Facebook owner Meta ordered to sell GIF library Giphy in 'final decision' by UK watch

[admin]

Meta, the owner of Facebook and Instagram, has been ordered by the UK competition regulator to sell the GIF library Giphy. The Competition and Markets Authority (CMA) said the ruling was a "final decision". The move followed a protracted effort by Meta to overturn a CMA ruling last year that the takeover, which completed in May 2020, could harm social media users and UK advertisers.