UK COMPETITION WATCHDOG ORDERS FACEBOOK TO SELL OFF GIPHY
Techlife News|Techlife News #527
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 that the deal would let Facebook “increase its already significant market power” by denying or limiting other platforms’ access to Giphy GIFs and driving traffic to Facebook-owned sites. It has noted previously that there’s only one other big provider of GIFs, Google’s Tenor.

The regulator also was concerned that the deal removed potential competition from the U.K.’s 7 billion pound ($9.3 billion) display advertising market, of which Facebook controls half.

It’s the first time the watchdog has sought to unwind a tech deal, marking an escalation by regulators seeking to tame digital giants.

Facebook, which has been renamed Meta, said it disagreed with the decision and is considering all its options, including an appeal.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM TECHLIFE NEWSView All

AMAZON PLANS TO OPEN NEW CENTRAL INDIANA WAREHOUSE THIS YEAR

Mayor Steve Barnett said the exact number of expected jobs has not yet been shared with the city, the Daily Journal reported. City officials said the warehouse will receive inventory and workers will sort and ship orders.

1 min read
Techlife News
15, January 2022

FACT CHECKERS SAY YOUTUBE LETS ITS PLATFORM BE ‘WEAPONIZED'

More than 80 fact-checking organizations are calling on YouTube to address what they say is rampant misinformation on the platform.

1 min read
Techlife News
15, January 2022

HONDA EXEC: HIGH AUTO PRICES MAY DROP, BUT NOT DRAMATICALLY

Honda expects its factories to make more vehicles this year despite a computer chip shortage and supply chain troubles. But because it’s starting the year with so few vehicles at dealers, the company expects U.S. sales to fall below last year’s numbers.

1 min read
Techlife News
15, January 2022

SPACE TELESCOPE'S EYE' OPENS, LAST MAJOR HURDLE ‘GOLDEN

NASA’s new space telescope opened its huge, gold-plated, flower-shaped mirror Saturday (08), the final step in the observatory’s dramatic unfurling.

1 min read
Techlife News
15, January 2022

AFTER WAVE OF CANCELLATIONS, DELTA SEES RECOVERY IN 2022

Delta Air Lines lost $408 million in the final quarter of 2021, dragged down by a COVID-19 surge that rocked the airline in December, and the carrier predicted Thursday that it will suffer one more quarterly loss before travel perks up in spring and summer.

3 mins read
Techlife News
15, January 2022

JUDGE SAYS FTC'S ANTITRUST CASE AGAINST FACEBOOK CAN PROCEED

A federal judge has ruled that the Federal Trade Commission’s revised antitrust suit against Meta, formerly known as Facebook, can proceed, shutting down the social media company’s request for a dismissal.

1 min read
Techlife News
15, January 2022

TAIWAN CHIPMAKER TSMC SAYS QUARTERLY PROFIT $6 BILLION

Taiwan Semiconductor Manufacturing Co., the biggest contract manufacturer of processor chips, reported Thursday its quarterly profit rose 16.4% over a year earlier to $6 billion amid surging demand for chips for smartphones and other electronics.

1 min read
Techlife News
15, January 2022

GRAND THEFT AUTO MAKER BUYS FARMVILLE COMPANY IN $12.7B DEAL

Take-Two Interactive, maker of “Grand Theft Auto” and “Red Dead Redemption,” is buying Zynga, maker of “FarmVille” and “Words With Friends,” in a cash-and-stock deal valued at about $12.7 billion.

1 min read
Techlife News
15, January 2022

WILL SMITH, LADY GAGA, BEN AFFLECK SCORE SAG NOMINATIONS

The Oscar race may be missing in-person glitz this year, but it doesn’t lack for star power. Will Smith, Lady Gaga and Ben Affleck landed individual nominations for the 28th Screen Actors Guild Awards on Wednesday, while the casts of “Belfast” and “CODA” were among those nominated for the guild’s top award, best ensemble.

3 mins read
Techlife News
15, January 2022

5 Steps to Reach Your Money Goals in 2022

In addition to the new year bringing confetti and a fresh calendar, it’s a time to set big money goals for the next 12 months. That might mean finally paying off debt, buying a house or taking a long-delayed vacation.

4 mins read
Techlife News
08, January 2022
RELATED STORIES

What Do Electric Vehicles Mean for the Future of Hot Rodding?

Electric vehicles are gaining in popularity and EV swaps are starting to show up in hot rods. Will this spell the end of traditional hot rodding?

3 mins read
Hot Rod
March 2022

PARADIGM SHIFTERS

Globalizing Streaming Content

7 mins read
Newsweek
December 24, 2021

EU PLAN FOR SWEEPING UPDATE OF BIG TECH RULES GAINS MOMENTUM

The European Union’s ambitious plan to update its pioneering internet rules gained momentum Tuesday after a key committee passed measures requiring technology companies to better police content and lawmakers prepared to vote on regulations to rein in Big Tech.

2 mins read
AppleMagazine
December 17, 2021

AND NOW, THE KITCHEN

Using original bits and vintage pieces, making the kitchen functional was a high priority.

3 mins read
Old House Journal
January - February 2022

INSTAGRAM LAUNCHES TOOL URGING TEENS TO TAKE A BREAK

Instagram launched a feature that urges teenagers to take breaks from the photo-sharing platform and announced other tools aimed at protecting young users from harmful content on the Facebook-owned service.

2 mins read
AppleMagazine
December 10, 2021

ROHINGYA SUE FACEBOOK FOR $150B, ALLEGING ROLE IN VIOLENCE

Rohingya refugees sued Facebook parent Meta Platforms for more than $150 billion over what they say was the company’s failure to stop hateful posts that incited violence against the Muslim ethnic group by Myanmar’s military rulers and their supporters.

2 mins read
AppleMagazine
December 10, 2021

Facebook Shuts Down Its Facial-Recognition System

Facebook doesn’t point to a single incident that prompted the decision, but it comes as facial-recognition systems (and the social network in general) have come under fire.

2 mins read
PC Magazine
December 2021

TWITTER ROLLS OUT REDESIGNED MISINFORMATION WARNING LABELS

Twitter users will soon see new warning labels on false and misleading tweets, redesigned to make them more effective and less confusing.

1 min read
AppleMagazine
November 19, 2021

Congress Just Can't Quit Facebook

Lawmakers of both parties assail the tech giant but are hooked on its core product

6 mins read
Bloomberg Businessweek
November 15, 2021

FACEBOOK WHISTLEBLOWER FEARS THE METAVERSE

Facebook whistleblower Frances Haugen warned that the “metaverse,” the all-encompassing virtual reality world at the heart of the social media giant’s growth strategy, will be addictive and rob people of yet more personal information while giving the embattled company another monopoly online.

4 mins read
AppleMagazine
November 12, 2021