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World

United Kingdom’s antitrust watchdog directs Facebook to sell-off Giphy

The United Kingdom’s antitrust watchdog has blocked Facebook’s acquisition of Giphy and ordered the social network to sell off the GIF-sharing platform. The Competition and Markets Authority said Tuesday that the deal would let Facebook, which has been renamed Meta, “increase its already significant market power” by denying or limiting other platforms’ access to Giphy […]

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Business Tech

UK regulator fines Facebook $70 million for ‘deliberately’ breaking rules on Giphy acquisition

Facebook has been fined $70 million for repeatedly ignoring warnings and deliberately breaking rules in relation with competition in the United Kingdom. The Competition and Markets Authority (CMA) said in a statement on Wednesday Facebook had “consciously” refused to report all the required information during an investigation of the tech giant’s acquisition of online database […]