said in a statement Tuesday. The watchdog group added that the $400 million deal “has removed Giphy as a potential challenger in the UK display advertising market, preventing UK businesses from benefiting from innovation in this market.”Meta said it would accept the order. “We are disappointed by the CMA’s decision but accept today’s ruling as the final word on the matter,” a Meta spokesperson said in a statement. “We will work closely with the CMA on divesting Giphy.”The regulator blocked the deal in November, arguing that the Instagram and WhatsApp owner would deny or limit competitor’s access to GIFs created on the Giphy platform.“The deal has already removed Giphy as a potential challenger in the display advertising market,” it said in a statement when it demanded Meta sell the platform.
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