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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

US FTC wants court to halt Activision-Microsoft merger.

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustra... Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustra... Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

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The FTC urged a judge to temporarily prohibit Microsoft Corp.’s (MSFT.O) acquisition of Activision Blizzard (ATVI.O) before the government’s case against the $69 billion merger is heard.

The FTC sought a federal judge to stop any formal agreement before 11:59 p.m. ET June 15 since Microsoft and Activision indicated the deal could close Friday.
The FTC said the purchase will give Microsoft the “ability and increased incentive to withhold or degrade Activision’s content in ways that substantially lessen competition.”

The FTC said that without a judge, the combined entity “could alter Activision’s operations and business plans” and allow the software giant to access crucial corporate information.
In early December, the FTC, which enforces antitrust law, asked an in-house administrative judge to block the transaction because it would give Microsoft’s Xbox exclusive access to Activision games, leaving Nintendo (7974.T) consoles and Sony Group Corp.’s (6758.T) PlayStation out in the cold.

In May, the EU authorized Microsoft’s $69 billion acquisition of “Call of Duty” videogame maker, while British competition authorities halted it in April.

Microsoft rose 1.5% Monday, while Activision lost 0.8%.

“We welcome the opportunity to present our case in federal court,” Microsoft president Brad Smith said. Activision was silent.

Microsoft offered to sign a legally binding consent decree with the FTC to provide “Call of Duty” games to rivals like Sony for a decade, saying the pact would benefit gamers and gaming firms. Microsoft announced the transaction in January 2022, expecting it to close in their June 2023 fiscal year.
“In light of that, and public reporting that Microsoft and Activision Blizzard are considering closing their deal imminently,” an FTC spokesman stated.

The case shows President Joe Biden’s tough antitrust enforcement.

Antitrust experts say the FTC may struggle to persuade a judge to invalidate the acquisition due to Microsoft’s voluntary concessions to quell concerns it could monopolize the gaming business.

The FTC’s administrative court will commence a trial on August 2.


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