In a statement from the UK regulator Competition and Markets Authority (CMA) Facebook‘Fame, GiphyIt was reported that he was fined £ 50.5 million (TL 645 million) for violating a CMA order while investigating his purchase.
The statement indicated that Facebook had not integrated its business with Giphy while the CMA review of the acquisition was in progress, and that it had to inform the CMA regularly during the process but did not meet these requirements.
The statement said that despite numerous warnings, Facebook refused to make the necessary notifications, which is why the CMA assessed Facebook’s stance as “deliberate”.
In May 2020, Facebook acquired animation video and video content producer Giphy for around $ 400 million. The CMA’s review of the sale continues.