GovWire

Remittal

Administrative timetable

Date of remittal: 15 July 2022

• Administrative timetable (18.7.22)

Contact

Email: facebook.giphy@cma.gov.uk

Final Report

18 October 2022: Following the Competition Appeal Tribunals judgment and the case being remitted, the CMA has found the completed acquisition by Facebook, Inc (now Meta Platforms, Inc) of GIPHY, Inc. may give rise to competition concerns in both the supply of display advertising in the UK, and in the supply of social media services worldwide (including in the UK). Facebook is required to sell GIPHY. The full text of the remittal final report will follow in due course.

• Summary (PDF, 282KB) (18.10.22)
• Press notice: CMA orders Meta to sell Giphy (18.10.22)

Responses to the provisional findings

• Parties joint response to the provisional findings (18.8.22)
• GIPHYs standalone response to the provisional findings (18.8.22)
• CCIAs response to the provisional findings (18.8.22)
• CCIAs supplemental response to the provisional findings (18.8.22)

Provisional findings

29 July 2022: On Monday 18 July 2022, the Remittal Group adopted the CMAs phase 2 report, published on 30 November 2021, as the provisional findings for the remitted case. Following a judgment from the Competition Appeal Tribunal, and its corresponding order, the CMA gave Meta and Giphy the opportunity to comment on the findings after a fully unredacted version was shared with their advisers.

Since the publication of the phase 2 final report, certain information which had previously been identified by a number of stakeholders as confidential is no longer confidential. In order to facilitate responses from interested third parties, this information has now been included in the published version of the document and is highlighted in yellow for ease.

• Provisional findings (29.7.22)
• Appendices and glossary (29.7.22)

Interim order

18 July 2022: The CMA served an interim order under section 81 of the Enterprise Act 2002 on Meta Platforms, Inc. and Giphy, Inc.

• Notice of making an interim order and decision to dispense with the requirements of Schedule 10 of the Enterprise Act 2002 (18.7.22)
• Interim order (18.7.22)

Conduct of the remittal and Notice of provisional findings on remittal

18 July 2022: The CMA has published its conduct of the remittal document in which it sets out the way in which it intends to conduct the remittal process, particularly with regard to scope of the remittal, information-gathering and consultation.

If you wish to provide written comments on the matters set out in this document please send these to the CMA by Friday 29 July 2022.

• Conduct of the remittal (18.7.22)

Remittal group appointed

Following the remittal by the Competition Appeal Tribunal, the Remittal Group was appointed on 15 July 2022.

Stuart McIntosh (Chair), Margot Daly, Robin Cohen and Stephen Rose.

Remittal update

18 July 2022: On 15 July 2022, the Competition Appeal Tribunal ordered the remittal of the CMAs Phase 2 Decision to the CMA, in respect of the finding of a substantial lessening of competition and the final decision as to remedy.

Phase 2

Administrative timetable

Referral date: 1 April 2021

Statutory deadline: 1 December 2021

• Administrative timetable (10.9.21)

Remedy Group Appointed

30 March 2022: The CMA appointed the Remedy Group

Stuart McIntosh (Chair), Robin Cohen, Margot Daly and Stephen Rose.

Final order

29 March 2022: The CMA is now making the final order. On the making of this Order, the reference has now been finally determined.

• Order (29.3.22)
• Notice of making the order (29.3.22)

Penalty notice

4 February 2022: The CMA has imposed a penalty on Meta Platforms, Inc., Tabby Acquisition Sub Inc., and Facebook UK Limited (jointly and severally) under section 94A of the Enterprise Act 2002. The CMA imposed the penalty for failures to comply, without reasonable excuse, with the requirements imposed on Meta by the initial enforcement order issued by the CMA under section 72 of the Enterprise Act 2002.

• Penalty notice (11.2.22)
• Summary of penalty decision (4.2.22)
• Press release: 