Microsoft's US$69B Activision Acquisition Approved by Judge, Deals Blow to Biden's Antitrust Efforts
Court approval clears the way for Microsoft's record-breaking acquisition, as judge dismisses concerns and UK regulator considers proposals.
Microsoft's $69 billion acquisition of Activision Blizzard receives court approval, dealing a blow to President Joe Biden's antitrust efforts. Shares of Activision rise 10%, while Microsoft shares see a marginal decline.
Judge Jacqueline Scott Corley rejects the claim that the deal would harm consumers by granting Microsoft exclusive access to games like "Call of Duty." The UK's Competition and Markets Authority is willing to consider Microsoft's proposals to address antitrust concerns.
The Federal Trade Commission (FTC) has until Friday to appeal the decision. The FTC's argument that Microsoft would exclude rival console makers is dismissed by Corley. The decision hampers the Biden administration's aim to reduce consumer costs. Microsoft expresses gratitude for the decision and plans to address the CMA's concerns. Analysts suggest a deal with the CMA could be reached in the coming weeks.
The trial primarily focused on "Call of Duty," but Activision also produces other popular games. The FTC cited concerns about competition in console gaming, subscriptions, and cloud gaming. Microsoft agreed to license "Call of Duty" to rivals, including Nintendo, to address these concerns.
Judge approves Microsoft's $69 billion purchase of Activision Blizzard, undermining Biden's antitrust efforts.
Activision shares rise 10%, Microsoft shares slightly down.
UK regulator willing to review Microsoft's proposals to address antitrust concerns.