The regulator’s concern was not only that Facebook might simply deny rivals access to Giphy content for their users to reshare but that the data-mining giant might change the terms of access - and could, for example, require rivals like TikTok, Twitter and Snapchat to provide it with more user data in order to access Giphy GIFs. The CMA’s preliminary report on the acquisition, this August, concluded that Facebook’s takeover of Giphy raised a number of competition concerns - including that it would harm competition between social media platforms, given the lack of choice in the supply of animated GIFs. In another first last month, the regulator fined Facebook almost $70 million for deliberately withholding information related to ongoing oversight of the acquisition - billing the infringement a “major” breach. It also, in June 2020, ordered a halt to further integration of Giphy by Facebook while the oversight continued.
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