On 6 January 2023, the UK Competition and Markets Authority (CMA) issued its final order in the Facebook/Giphy merger investigation (pursuant to section 84 of the Enterprise Act 2002). In particular, in its Final Order, the CMA decided, after considering all evidence from the original and remittal inquiries, that the Facebook/Giphy merger would likely result in substantially lessening competition in the social media and display advertising markets. As a result, the CMA ordered Facebook to sell Giphy to a suitable buyer.
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