On 30 June 2023, the UK Competition and Markets Authority (CMA) closed its investigation into the Facebook(Meta)/Giphy merger. The CMA issued its final order in the Facebook/Giphy merger investigation on 6 January 2023, deciding that the Facebook/Giphy merger would likely result in a substantial lessening of competition in the social media and display advertising markets and order Facebook to sell Giphy to a suitable buyer. As a result, on 23 June 2023, the CMA approved the sale of Giphy by Meta to Shutterstock and closed the investigation into Facebook, previously Meta.
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