Friday, 24 March, 2023

Meta is penalised again by UK authorities over Giphy merger

<p>The UK Competition and Markets Authority fined Meta, formerly known as Facebook, for failing to comply in an investigation into its acquisition of Giphy. The antitrust watchdog has been looking into the $400M Meta-Giphy agreement since June 2020, a month after it was disclosed. Meta was fined &pound;1.5M by the competition authority on Friday for failing to notify the resignations of key employees, which was a prerequisite of the investigation.</p>