Giphy Stock

Facebook-owner Meta has applied to appeal a British competition watchdog ruling that it must sell Giphy on grounds that include challenging the finding that the deal removed a potential competitor in display advertising.

There was a time, not so long ago, when Meta’s big-money deal to acquire Giphy would have been waved through. No more.

A British regulator ordered Facebook to sell Giphy, assessing that its acquisition of the animated graphics startup would hit competition.