Facebook has criticized the U.K. competition watchdog's provisional decision ordering that it sell off Giphy because it said the acquisition of the company stifles competition for animated images.
The social network's strongly worded response to the Competition and Markets Authority sets the stage for a battle over the future of Giphy.
In the Wednesday (9/8) letter, Facebook said the watchdog's decision contained "fundamental errors." The U.S. company questioned whether the authority's call to sell Giphy after acquiring it last year would be effective or enforceable.
"The CMA's complete divestiture remedy is grossly unreasonable and disproportionate," Facebook said.
Giphy's library of short looping videos, or GIFs, are a popular tool for internet users sending messages or posting on social media.
The watchdog opened an investigation into the acquisition shortly after Facebook announced the deal reportedly worth $400 million. It found that the acquisition would hurt competition for GIFs among social media platforms and in the digital advertising competition market.
Facebook said there are "serious questions" about whether the British regulator can enforce a global order for a company to sell off a business unit and whether it would be effective – issues it said the watchdog should consider "before taking the extreme intrusive step of ordering the sale of a company which does not carry on business in the U.K."
The CMA is due to its final report on the deal on Oct. 6.
SMPTE elects board officers, regional governors
SMPTE®,the home of media professionals, technologists, and engineers, has revealed the board officers and regional governors who will serve terms beginning in January 2025.
Three new officers--Richard Welsh as SMPTE president, Eric Gsell as SMPTE executive VP, and Polly Hickling as SMPTE Education VP--have been elected for a two-year term from Jan. 1, 2025, to Dec. 31, 2026. One SMPTE officer, Lisa Hobbs, will be continuing her service as SMPTE secretary and treasurer for another two-year term. Additionally, Raymond Yeung will be stepping into the role of standards VP on Jan. 1, 2025.
“SMPTE’s membership has spoken,” said SMPTE interim executive director Sally-Ann D’Amato. “These officers have been tasked with an important responsibility, one each of them is prepared to tackle head-on. These next two years are looking bright for SMPTE!”
In addition to the officers, 10 regional governors were elected by the Society to serve two-year 2025-2026 terms.
These include the following regional governors, re-elected to continue their service:
Asia-Pacific Region Governor
Tony Ngai, Society of Motion Imaging Ltd.
EMEA - Central & South America Region Governor
Fernando Bittencourt, FB Consultant
United Kingdom Region Governor
Chris Johns, Sky UK.
USA - Central Region Governor
William T. Hayes, Consultant
USA - Eastern Region Governor
Dover Jeanne Mundt, Riedel Communications
USA - Western Region Governor
Jeffrey F. Way, Open Drives
Also elected were four newcomers to the SMPTE Board:
Canada Region Governor
Jonathan Jobin, Grass Valley
USA - Hollywood Region Governor
Allan Schollnick, Voxx... Read More