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ANKARA, TURKEY – MAY 20: In this illustration photo, the Facebook and Giphy logos are displayed on a laptop screen in Ankara, Turkey on May 20, 2020 (Photo by Aytac Unal / Anadolu Agency via Getty Images )
Anadolu Agency via Getty Images
The UK competition watchdog has warned that Facebook could be forced to sell the GIF search engine and Giphy database.
The Autorité de la concurrence et des marchés (CMA) issued its ruling after warning that Facebook’s $ 400 million deal to acquire Giphy in May 2020 could hurt competition between social platforms and eliminate a potential competitor in the digital advertising market.
The CMA’s decision is tentative and will be confirmed in October, but its recommendations were that Facebook unwind the deal and sell Giphy. The move is a setback for the world’s largest social network and marks a major step in a global pullback against tech giants Silicon Valley over antitrust issues.
“The takeover of Giphy could see Facebook removing GIFs from competing platforms or requiring more user data to access them,” said Stuart McIntosh, chairman of the AMC independent investigation group. “It also removes a potential challenger from Facebook in the £ 5.5 billion display advertising market. None of this would be good news for customers.
I joined Forbes as Europe News Editor and will work with the London Newsroom to define our coverage of emerging companies and leaders across the UK and Europe.
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I joined Forbes as Europe News Editor and will work with the London Newsroom to define our coverage of emerging companies and leaders across the UK and Europe. Prior to joining Forbes, I worked for the Storyful News Agency as Editor-in-Chief for Asia from their Hong Kong office, and as Editor-in-Chief in London, where I reported. on the latest news from around the world, with a focus on how misinformation and misinformation spreads on social media platforms. I started my career in London as a financial journalist at Citywire and my work has been published in the BBC, The Sunday Times and many other UK publications. Send me article ideas or tips via email to [email protected] or Twitter @_iainmartin.
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