Name: U.K. Competition Watchdog Launches Probe Into Facebook’s Giphy Takeover
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U.K. Competition Watchdog Launches Probe Into Facebook’s Giphy Takeover

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BETAThis is a BETA experience. You may opt-out by&nbsp;Jun 12, 2020,The U.K. Competition and Markets Authority (CMA) has launched an investigation into .In , the CMA said it would be examining whether the takeover would lead to a “substantial lessening of competition” in the two companies’ respective markets.While Giphy will continue to operate its own library, Facebook said in May that it intends to further wrap the app into Instagram “so that people can find just the right way to express themselves.”However, the CMA has also issued an initial enforcement order, which means Facebook can’t continue any activities related to the merger while its investigation ongoing, essentially stopping the two companies from integrating while the watchdog conducts its initial investigation.“The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services,” it said in the announcement.MORE FOR YOUIn response to the CMA’s announcement, Facebook said it is “prepared to show regulators that this acquisition is positive for consumers, developers, and content creators alike.”“Giphy improves Instagram’s offerings by giving people more features and tools. Developers and API partners will continue to have the same access to Giphy and Giphy’s creative community will still be able to create great content,” a Facebook spokesperson added.The CMA is now opening up the case for comments from third parties, to be submitted by July 3, 2020.This isn't the first time Facebook has come under the watchful eye of the U.K. watchdog. Back in December, the CMA voiced its concerns about the social media giant’s online ad dominance, stating that the company - along with Google - could be limiting choice for consumers and raising prices for advertisers.The CMA issued the warning after discovering that Facebook accounted for nearly half of all online “display” ad revenues, while Google earned more than 90% of the revenues in search-based advertising in the U.K.&nbsp;or&nbsp;.&nbsp;my&nbsp;.&nbsp;

BETAThis is a BETA experience. You may opt-out by&nbsp;Jun 12, 2020,The U.K. Competition and Markets Authority (CMA) has launched an investigation into .In , the CMA said it would be examining whether the takeover would lead to a “substantial lessening of competition” in the two companies’ respective markets.While Giphy will continue to operate its own library, Facebook said in May that it intends to further wrap the app into Instagram “so that people can find just the right way to express themselves.”However, the CMA has also issued an initial enforcement order, which means Facebook can’t...

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U.K. Competition Watchdog Launches Probe Into Facebook’s Giphy Takeover

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