The UK's antitrust regulator is reportedly set to block Meta's purchase of Giphy

The UK's Competition and Markets Authority (CMA) is expected to reverse Facebook parent company Meta's purchase of Giphy in the coming days, according to the Financial Times. If so, it would mark the first time that the country's competition regulator has unwound a major tech acquisition. Meta (or Facebook, at the time) announced in May 2020 that it bought the GIF platform with the goal of rolling it into Instagram. Reports pegged the price of the deal at $400 million. The CMA raised concerns ab...