On 23 December 2021 Meta Platforms, Inc (formerly Facebook, Inc) challenged the CMA's decision ordering it to sell off Giphy, the GIF-sharing search engine acquired by Facebook in May 2020.
Meta is challenging the CMA's decision on six grounds, including that Giphy would not have become a meaningful display advertising competitor to Facebook in the UK, that the decision is procedurally flawed, contradictory and irrational, and that the remedy imposed has no basis and is disproportionate.
Meta's appeal grounds are set out more fully in our Competition & Regulatory Newsletter this week. The CMA now has until 30 January 2022 to file its defence. Many will be watching as the CMA seeks to defend its first Big Tech prohibition.