Suppressing Competition News Today

Investigated it, and thought- that there was a case to answer in terms of suppressing competition. _ it thought that it could limit other people using gifs, - it could extract data if other people did use those gifs. and it was also depriving| the market of a potential competitor to facebook. and so the competition authority has told meta to dispose of it. and a lot of competition - lawyers are fairly astounded at that decision. but i think it does - speak to this new mood of interventionism tha...

Regulators has- changed enormously. and i think on your show early this year you had someone . from the competitionl and markets authority who was making this point, that i think there is a presumption . of an action, the market should be allowed to run its course - and monopolies would be self—correcting. - but i think that mood has- changed, and there is now a far more interventionist mood. and weve actuallyjust seen that, have we not, this week with the competition and markets authority hav...

But the competition. and market authority investigated it, and thought- that there was a case to answer in terms of suppressing competition. it thought that it could limit other people using gifs, - it could extract data if other people did use those gifs. and it was also depriving| the market of a potential competitor to facebook. and so the competition - and markets authority has told meta to dispose of it. and a lot of competition lawyers are fairly astounded at that decision. . i but i think...

But can you unpack that for us? how does a british competition and markets authority tell an american company what to sell? yeah, indeed, its quite an extraordinary story i in a way because giphy- is a new york—based lossmaking platform that provides gifs. it was bought by meta in may last year. - giphy doesnt really have any activities or employees - in the uk, but the competition and market authority - investigated it, and thought- that there was a case to answer in terms of suppressing comp...

Giphy does not really have any activities or employees - in the uk, but the competition and market authority - investigated it, and thought- that there was a case to answer in terms of suppressing competition. _ they thought - that it could limit of competition using gifs, . it could extract data if other people did use those gifs and it was also depriving| the market of a potential competitor to facebook.| and so the competition authority has told - meta to dispose of it. and a lot of the petit...