Giphy GIF Search Latest: Meta to Appeal UK CMA Decision – Bloomberg

Meta Platform’s Inc. will this week attempt to overturn a controversial order to sell off Giphy, in a four-day trial that’ll mark the biggest antitrust court clash in the U.K. this year.

The Competition and Markets Authority’s decision to unwind the $315 million GIF search engine deal was slammed by Meta as “grossly unreasonable and disproportionate.”

Lawyers for Meta will try to appeal on six grounds, including arguing the order to sell was flawed because the CMA didn’t prove that Giphy could have become a meaningful competitor to Meta’s Facebook, according to documents prepared for trial.

The CMA told Meta to sell Giphy after an in-depth investigation concluded in November that the tie up would allow Meta to increase its power on social media further. It was the first time a global regulator forced a Big Tech firm to unwind a completed deal and the U.K. was the only major regulator to take a stance on the acquisition.

The dispute underscores the CMA’s increased appetite to…

Read Full Story: https://www.bloomberg.com/news/articles/2022-04-25/meta-set-for-court-showdown-over-giphy-with-u-k-s-tech-watchdog

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