FTC will try to block Microsoft’s acquisition of Activision Blizzard
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The Federal Trade Commission is set to file for an injunction seeking to block Microsoft’s proposed acquisition of Activision Blizzard, a person familiar with the matter told CNBC.
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The FTC had already sued to block the $68.7 billion acquisition, choosing to bring the case before its internal administrative law judge.
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By filing for an injunction, the FTC is seeking to stop the acquisition from going through before the deal’s July 18 deadline.
The Federal Trade Commission is set to file for an injunction on Monday seeking to block Microsoft’s proposed acquisition of Activision Blizzard , a person familiar with the matter told CNBC.
By filing for an injunction, the FTC is seeking to stop the acquisition from going through before the deal’s July 18 deadline.
The FTC had already sued to block the $68.7 billion acquisition, choosing to bring the case before its internal administrative law judge. Through that trial-like process, the ALJ would make an initial decision that could be appealed to the full commission for a vote. After that, Microsoft could appeal to a federal court should the decision not go its way. The case is set to go before the ALJ in August.
An appeal of the UK’s Competition and Markets Authority’s decision to block the merger is also scheduled to take place this summer shortly after the acquisition deadline.
“We welcome the opportunity to present our case in federal court,” Microsoft President Brad Smith said. “We believe accelerating the legal process in the U.S will ultimately bring more choice and competition to the market.”
Shares of Microsoft and Activision were roughly flat Monday afternoon.
Am I the only one hoping this doesn’t go through? Like, I don’t like how hard MS is pushing for everything to be a service. Not to say gamepass isn’t a good deal, I just don’t want the every big game they put out to be some drip feed Skinner box like Halo Infinite.
Nope, you’re not the only one. I personally don’t understand how some people are vehemently in favor of this merger and are rooting for it to close. It is never good for the consumer when these big companies merge - just take a look at the other recent large-scale mergers like the AT&T-Time Warner merger and the Disney-Fox merger. These big companies are not your friend. Microsoft is not your friend.
I don’t think Microsoft gaining control of one of the biggest game companies on the planet is good. They can make all these promises and promise all these concessions, but I bet the second they get a chance to break them, they will. It’s engrained in their history - Microsoft’s 2001 antitrust case anyone?
Not only that, but they’ve proven themselves already very recently that they cannot be trusted with mergers either. The Bethesda/ZeniMax merger promised that games would remain on competitors’ consoles. Soon after the merger closed, they announced that games would no longer be made for anything other than Xbox and PC.
I think a lot of people are just too short sighted and don’t care about the ill consequences of this merger - as long as they play on Xbox / PC and they are able to see the new Call of Duty each year in their GamePass library, they’ll be happy.