According to multiple reports, the US Federal Trade Commission (FTC) has reportedly canceled Microsoft’s $69 billion acquisition of video game maker Activision Blizzard.
Microsoft moves to appeal UK decision blocking $69 billion deal
|Atvi||Activision Blizzard Co., Ltd.||80.38||+0.36||+0.45%|
FOX Business did not immediately respond to inquiries from the FTC and Microsoft.
In April, the UK’s Competition and Markets Authority regulator said that “the only effective remedy for a significant loss of competition is to ban mergers in what would be the biggest deal in technology history” to block takeovers. and
In response, Microsoft CEO Brad Smith said the regulator’s decision would hamper innovation and investment in the UK while refusing a practical path to addressing competition concerns. tweeted.
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Both Microsoft and Activision have been criticized by contemporaries like Sony, as well as regulators in the United States and Europe who fear the merger could give Microsoft control over the cloud gaming industry and popular game series like Call. has appealed the UK regulator’s decision, despite opposition from the all-cash transaction. of Duty, World of Warcraft, Candy Crush.
In February, Activision CEO Bobby Kotick appeared on The Claman Countdown to denounce regulators.
“I think what we’re going through now is that regulators have very little experience in our industry,” he told moderators. Liz Klaman. “There will probably be a lot of consolidation over time, but the industry is highly fragmented, with Japanese and Chinese companies currently the dominant players.”
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Cloud gaming enables game streaming to tablets, phones, and other devices, eliminating the need for gamers to purchase expensive consoles and gaming computers.
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