Technology
UK competition watchdog fines Meta $2 million over Giphy acquisition
The UK’s Competition and Markets Authority (CMA) has fined Meta (formerly Facebook) $2 million for failing to disclose key changes in its $315 million acquisition of online database and search engine Giphy.
According to the CMA, Meta failed to notify the regulator of the resignation of three key employees and the reassignment of their roles.
In November, U.K. antitrust regulators ordered Meta to sell Giphy because the acquisition could hurt social media users and U.K. advertisers.
Facebook acquired the online GIF platform in May 2020.
Britain’s anti-competition watchdog ruled that Facebook’s acquisition of Giphy would reduce competition among social media platforms, and the deal has already made Giphy less of a potential challenger in the display advertising market.
“Facebook and Giphy’s partnership has eliminated a potential challenger in the display ad market. If not acted, it will also allow Facebook to further enhance its significant market power in social media by controlling rivals’ access to Giphy’s GIFs,” Stuart McIntosh, chairman of the Independent Investigation Panel, said.
“By requiring Facebook to sell Giphy, we are protecting millions of social media users and fostering competition and innovation in digital advertising,” he said in a statement.
Prior to the merger, Giphy had launched an innovative advertising service that was considering expanding beyond the US, including the UK.
Giphy’s services enable companies like Dunkin’ Donuts and PepsiCo to promote their brands through visual images and GIFs.
The CMA found that Giphy’s ad service has the potential to compete with Facebook’s own display ad service.
Complete News Source : Business Standard
Hollywood
Tom Holland to star alongside Matt Damon in Christopher Nolan’s next, will juggle that with Spider-Man 4 in 2025
Tom Holland, last seen in Apple TV show The Crowded Room last year, has signed his next with Academy Award-winning filmmaker Christopher Nolan.
Tom Holland is going to have a very busy 2025. As per The Hollywood Reporter, the actor has signed Christopher Nolan’s next, which he will juggle the filming of with that of the long-awaited Spider-Man 4. (Also Read – Tom Holland shares why he left alcohol behind: ‘Struggling without booze…’)
Tom signs Nolan’s next
This will mark the first collaboration between Tom and Christopher. While details of his next directorial aren’t known yet, it’s most likely not to have a contemporary setting. It’ll be either set in the past like, his previous film Oppenheimer (2023), or in the future like Interstellar (2014). Matt Damon, who has worked with Christopher in both, has also come on board his next.
Christopher’s next will be co-produced by him and his wife Emma Thomas’ banner Syncopy Inc and Universal Pictures, as the two production houses will team up after the Academy Award-winning blockbuster Oppenheimer last year. Prior to Oppenheimer, Christopher collaborated mostly with Warner Bros before having a fallout post the debacle of Tenet (2020).
Warner Bros then went on to produce Greta Gerwig’s musical satire Barbie, which clashed with Oppenheimer at the box office and even outperformed it globally. Warner Bros offered Christopher a cheque for the fees he waived off for helming Tenet during the pandemic. While Christopher graciously accepted the belated remuneration, he still went on to pitch his next to Warner Bros.
Tom’s busy schedule
Tom didn’t have any release this year. His last outing was Todd Graff’s psychological thriller show The Crowded Room on Apple TV last year. He’ll juggle the filming of Christopher Nolan’s next and Spider-Man 4 in 2025. Tom has been playing the superhero ever since Russo Brothers’ 2016 blockbuster Captain America: Civil War. He’s slipped into the Peter Parker shoes post that for three standalone films and two Avengers movies. Spider-Man 4 will be helmed by Shang-Chi and the Legend of the Ten Rings director Destin Daniel Cretton.
As Tom’s girlfriend and co-star Zendaya will be busy filming Spider-Man 4 in 2025, she’ll reprise her role of Chani in Denis Villeneuve’s sci-fi spectacle Dune 3 only in 2026. Meanwhile, Tom is also likely to make an appearance as Spider-Man in Russo Brothers’ Avengers: Doomsday, which will go on floors in the spring of 2025.
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