UK competition watchdog orders Facebook owner to sell gif website Giphy

Facebook parent company Meta has been ordered by the UK competition watchdog to sell the gif creation website Giphy, the first time the regulator has moved to block a deal struck by one of the Silicon Valley giants.

The regulator said Meta could cut off the supply of gifs to rivals, or demand more user data from them in order to keep using Giphy. The CMA said that a takeover would also remove a potential competitor from the ?7bn UK display advertising market, where Facebook is the biggest player accounting for about half the market.

Meta, which is considering appealing against the decision, said that the deal would be good for Giphy, consumers and businesses.