Meta agrees to sell GIF-sharing platform Giphy, ending battle with UK regulators
Image Credit: ANI
Facebook parent Meta said Tuesday that it will sell off Giphy after running out of options to thwart a ruling by UK regulators, who again found that the deal to buy the GIF-sharing platform would limit competition and innovation.Britain's competition watchdog had ordered Meta last year to reverse the deal — a year after it was announced — but the company appealed to a tribunal, which rejected most of its arguments.