UK regulator’s order for Meta to sell Giphy is under review — again

Illustration by Alex Castro / The Verge

There is a new twist in the story of Meta's attempt to buy Giphy. The judges of the Competition Appeal Tribunal told the Competition and Markets Authority to reconsider its previous ruling that told Meta to sell Giphy. The decision will be reconsidered in light of the finding. The goal is for the process to take no more than three months.

A month ago, the tribunal sided with the regulators after Meta appealed its order to sell Giphy. Meta will have the chance to comment on the final report of the CMA.

In May 2020 Meta said it would buy Giphy. The UK's competition regulators were concerned that Meta's ownership of the popular Gif-sharing service could restrict other platforms' access to its content. Meta was ordered to sell Giphy by the CMA.

A representative from Meta wouldn't comment on the decision. Christopher Sgro, a spokesman for Meta, said that their investment would improve Giphy's product for millions of people, businesses and partners who use it.