On 12 August 2021, the Competition and Markets Authority (CMA) announced provisional findings of their in-depth investigation into the merger between Facebook Inc. and Giphy Inc. The findings include several concerns about the potentially harmful effects the merger could have on competition. If proven, those concerns could lead to an obligation for Facebook to reverse the merger by selling Giphy. More specifically, the merger potentially eliminates a competitor in the display advertising market and will reduce competition between social media platforms according to the CMA. The CMA welcomes responses to its provisional findings by 2 September 2021 and its notice of possible remedies by 25 August 2021 and will issue its final report on 6 October 2021.
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