On 18 October 2022, the Competition and Markets Authority (CMA) issued its final decision to conclude the remittal process of the Facebook/Giphy merger investigation. The CMA decided, after considering all evidence from both the original and remittal inquiries, that the Facebook/Giphy merger would likely result in a substantial lessening of competition in the social media and display advertising markets. As a result, the CMA has ordered Facebook to sell Giphy to a suitable buyer.
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