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Content Type: Press release
Meta, the largest provider of social media sites and display advertising in the UK, acquired GIPHY, the largest provider of GIFs. In its report of 30 November 2021 the CMA found that the completed merger between Meta and GIPHY will give rise to a substantial lessening of competition.
The CAT confirmed the CMA's assessment and dismissed all but one of Meta’s appeal grounds, paving the way for Meta to sell GIPHY, as demanded by the CMA.
PI was granted permission to intervene in this case, one of…