The United Kingdom’s antitrust watchdog has blocked Facebook’s acquisition of Giphy and ordered the social network to sell off the GIF-sharing platform, saying the deal hurts social media users and advertisers by stifling competition for animated images. The Competition and Markets Authority said Tuesday that the deal would let Facebook, which has been renamed Meta, “increase its already significant market power” by denying or limiting other platforms’ access to Giphy GIFs and driving traffic to Facebook-owned sites. It’s reportedly the first time the watchdog has sought to unwind a tech deal.
Sports News
HOTSTAR All Set to Stream IPL Cricket Matches for US Fans
By Babita Sharma BROOKLYN, NY (TIP): Cricket fans are in for a surprise as for the first time, Hotstar, India’s largest premium live streaming service, which was launched in the U.S. in September, will be […]
Featured
Valentine’s Day
Valentine’s Day, also called St. Valentine’s Day, holiday (February 14) when lovers express their affection with greetings and gifts. Given their similarities, it has been suggested that the holiday has origins in the Roman festival […]
World
Japan dissolves Parliament, setting stage for October 31 General Election
Tokyo (TIP): Japan dissolved its Parliament on Thursday, setting the stage for an election at the end of the month that will pit new Prime Minister Fumio Kishida against unpopular opposition in a battle over […]
Be the first to comment