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The UK’s breakup of Facebook and Giphy spells trouble for Big Tech

·7 min read
The UK’s breakup of Facebook and Giphy spells trouble for Big Tech
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After Facebook parent company Meta bought Giphy for $315 million in 2020, a bit of creative accounting let the deal fly under the radar of antitrust regulators in the United States. The Competition and Markets Authority (CMA), the UK government’s antitrust authority, said the deal would stifle competition in the social media landscape and the digital advertising industry, ultimately harming the British public. Meta said it will appeal the decision, but the UK seems intent on unraveling the deal.