Meta Agrees , To Sell Giphy.<br />AP reports that on Oct. 18, Meta agreed to sell Giphy after failing to prove to U.K. regulators that the deal wouldn't hurt competition and innovation. .<br />AP reports that on Oct. 18, Meta agreed to sell Giphy after failing to prove to U.K. regulators that the deal wouldn't hurt competition and innovation. .<br />The Competition and Markets Authority said that , “the only way to avoid the significant impact the deal would have on competition” is for the Facebook parent company to sell the GIF-sharing platform to an approved buyer.<br />The Competition and Markets Authority said that , “the only way to avoid the significant impact the deal would have on competition” is for the Facebook parent company to sell the GIF-sharing platform to an approved buyer.<br />Meta agreed that it wouldn't file another appeal and issued a statement.<br />We are disappointed by the CMA’s decision but accept today’s ruling as the final word on the matter, Meta, via statement.<br />We will work closely with the <br />CMA on divesting GIPHY, Meta, via statement.<br />We will continue to evaluate opportunities — including through acquisition — to bring innovation and choice to more people in the U.K. and around the world, Meta, via statement.<br />Meta's Giphy deal was <br />reportedly worth $400 million.<br />The Competition and Markets Authority has also <br />opened investigations into Microsoft's acquisition of <br />Activision Blizzard and Amazon's continued dominance.<br />The Competition and Markets Authority has also <br />opened investigations into Microsoft's acquisition of <br />Activision Blizzard and Amazon's continued dominance.<br />The Competition and Markets Authority has also <br />opened investigations into Microsoft's acquisition of <br />Activision Blizzard and Amazon's continued dominance
