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☆ Microsoft-Activision Deal Faces Test in FTC Hearing
▼ + stars: | 2023-06-22 | by ( Sarah E. Needleman | Jan Wolfe | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/microsoft-activision-deal-faces-test-in-ftc-hearing-e8f47ea3

Persons: Dow Jones Organizations: microsoft, activision

☆ Microsoft-Activision Hearing Begins as FTC Tries to Stop $75 Billion Deal
▼ + stars: | 2023-06-22 | by ( Sarah E. Needleman | Jan Wolfe | ) www.wsj.com time to read: 1 min

Persons: Dow Jones Organizations: microsoft, activision

☆ FTC to argue Microsoft's deal to buy Activision should be paused
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, June 22 (Reuters) - The U.S. Federal Trade Commission on Thursday will argue in federal court for a preliminary injunction to temporarily block Microsoft's acquisition of videogame maker Activision Blizzard, stopping the deal from closing before the government's case against the deal is heard. But if the court pauses the deal, Microsoft and Activision will have to agree to extend it past a July 18 termination date built into their original agreement. The FTC fears that without action by the federal court, the combined firm "could alter Activision's operations and business plans" and could allow Microsoft to access sensitive business information. Resolving the U.S. lawsuit is one of several key antitrust battles Microsoft and Activision have fought around the world to get the deal finalized. Microsoft CEO Satya Nadella and Activision CEO Bobby Kotick are among the witnesses planned for a five-day evidentiary hearing.

Persons: Satya Nadella, Bobby Kotick, Chris Sanders, Leslie Adler Organizations: U.S . Federal Trade Commission, Activision, Microsoft, Microsoft Corp, Activision Blizzard Inc, FTC, EU, Nintendo, Sony Group, Sony, Thomson Locations: San Francisco

☆ Microsoft faces off against US government over Activision deal, with top execs set to testify
▼ + stars: | 2023-06-22 | by ( Brian Fung | ) edition.cnn.com time to read: +5 min

It will also impact enormously popular gaming franchises such as “Call of Duty” and “World of Warcraft,” which Activision owns and would be transferred to Microsoft under the deal. Also testifying will be the top financial executives from both companies; senior leaders from Microsoft’s Xbox division; the CEO of Microsoft Gaming, Phil Spencer; and a vocal critic of the deal, Sony gaming CEO Jim Ryan. The clash comes as Microsoft and Activision face down a contractual July 18 deadline to consummate the deal. A crucial moment for Microsoft and the FTCThe FTC lawsuit has put Microsoft under the harshest antitrust scrutiny in the US in more than two decades. Microsoft CEO Satya Nadella, Activision CEO Bobby Kotick and Sony Gaming CEO Jim Ryan are all expected to testify.

Persons: Phil Spencer, Jim Ryan, Satya Nadella, Bobby Kotick, Drew Angerer, Kevin Dietsch, Alex Wong, “, Lina Khan, Khan, Meta Organizations: CNN, Microsoft, Activision, Xbox, Microsoft Gaming, Sony, Federal Trade Commission, FTC, Sony Gaming, New, Nintendo, Nvidia, European Union, Facebook, Meta Locations: New Zealand, European, United States

☆ Microsoft Says It Could Abandon Activision Deal if Judge Delays It
▼ + stars: | 2023-06-22 | by ( Kellen Browning | David Mccabe | ) www.nytimes.com time to read: +2 min

On Wednesday, it sued Amazon over allegations that the company tricked users into signing up for its Prime subscription service. has had setbacks: Its challenge to Meta’s purchase of a virtual reality start-up fell apart this year after a judge declined to stop the deal from closing. But that court does not have the legal authority to stop the deal. asked the federal court to step in this month, saying it feared Microsoft would try to complete the deal despite the legal challenges. would be a sign that its broader challenge has legs, and could put new pressure on Microsoft and Activision to reconsider the multibillion-dollar corporate marriage.

Persons: Wilkinson, ”, Jim Ryan, Meta, Microsoft’s, Corley’s Organizations: Microsoft, Activision, Nintendo, Nvidia, PlayStation, Sony, Amazon

☆ Amazon's iRobot deal faces EU antitrust investigation, sources say
▼ + stars: | 2023-06-22 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, June 22 (Reuters) - Amazon's (AMZN.O) $1.7 billion acquisition of robot vacuum cleaner maker iRobot (IRBT.O) faces a full-scale EU antitrust investigation, people familiar with the matter said, weeks after the U.S. online retail giant won UK approval for the deal. IRobot made its first Roomba robot vacuum in 2002. IRobot shares fell about 10%, their largest percentage drop since February last year, while Amazon shares trimmed gains after the Reuters story was published. Amazon has previously said the vacuum cleaner market is very competitive, with lots of Chinese players. It blocked Microsoft's Activision deal while the Commission cleared the deal conditional on Microsoft's licensing deals with rival streaming platforms.

Persons: IRobot, Foo Yun Chee, Alison Williams, Kirsten Donovan, Jan Harvey Organizations: Amazon, European Commission, Activision, Antitrust, Big Tech, Thomson Locations: BRUSSELS

☆ Inside Netflix's growing M&A machine, who's leading it, and what insiders think the streamer could buy next
▼ + stars: | 2023-06-21 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

It then delved further into M&A to kickstart its games business. And the streamer hasn't completely abandoned its build-from-within strategy, as it also announced plans last fall to build its own gaming studio in Finland. He recently was elevated to the Lstaff, a group of 25 Netflix business heads who debate its biggest initiatives. (Netflix ended up doing a partnership in 2019 with that company, Studio Dragon, and its parent CJ ENM.) But leadership has been steadfast that Netflix's M&A mantra hasn't changed.

Persons: Here's, Reed Hastings, It's, it's, who's, what's, Roald Dahl, Dahl, Peter Rabbit, Spry, Harry Potter, execs, Spencer Wang, Michael Porter, Spencer Neumann, who'd, Neumann, Wang, Greg Peters, Ted Sarandos, Bela Bajaria, Scott Stuber, Mike Verdu, Jay MacDonald, Digiday, Ana Milicevic, Hastings, Sarandos, CJ ENM, Mario Organizations: Netflix, stoke, Paramount, Night School, Spry Fox, Disney, Warner Bros, DC Comics, Digital Capital Advisors, MLB, Surf League, Street Journal, Microsoft, Sparrow Advisers, MGM, Amazon, Mario Bros, Activision Blizzard, Epic Games, UBS Locations: Finland, New Jersey, Hollywood

☆ Fernando Machado, CMO of NotCO, talks about what marketers overlook while trying to embed DEI into their campaigns
▼ + stars: | 2023-06-20 | by ( Michael Kaminer | ) www.businessinsider.com time to read: +4 min

Fernando Machado is the CMO of NotCo, formerly of Burger King and Activision Blizzard. This article is part of CMO Insider, a platform that explores how the role of chief marketing officer is evolving. Fernando Machado, CMO of NotCo, a plant-based food company, is known for his bold campaigns at Burger King and Activision Blizzard.His repertoire has often tackled current social issues like LGBTQ rights and representation of other minoritized groups. In an conversation with Insider, Machado explains what most marketers overlook and how they can align their DEI strategies with agency partners. At Burger King, we had agencies sign a pledge to reach certain targets [around diversity], but only because we had targets ourselves.

Persons: Fernando Machado, Burger King, Machado, you've, It's, Burger, victimize Organizations: NotCo, Activision Blizzard, Burger King, Activision Locations: Burger

☆ Microsoft, Activision CEOs on witness list for hearing on FTC bid to block merger
▼ + stars: | 2023-06-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The FTC is seeking a preliminary injunction to block Microsoft from completing its $69 billion acquisition of Activision Blizzard. The FTC has argued the transaction would give Microsoft's video game console Xbox exclusive access to Activision games, leaving Nintendo (7974.T) consoles and Sony Group Corp's (6758.T) PlayStation out in the cold. Microsoft's bid to acquire the "Call of Duty" video game maker was approved by the EU in May, but British competition authorities blocked the takeover in April. The FTC is calling Nadella to testify about the video game industry, Microsoft Gaming’s strategy and business and the planned Activision acquisition, while Microsoft is calling him to testify about similar topics. Also testifying are two executives from Nvidia Corp.Microsoft Chief Financial Officer Amy Hood, Microsoft Gaming CEO Phil Spencer and Microsoft Gaming CFO Tim Stuart are also scheduled to testify, as are a number of expert witnesses.

Persons: Satya Nadella, Bobby Kotick, Nadella, James Ryan, Dov Zimring, Amy Hood, Phil Spencer, Tim Stuart, David Shepardson, Chris Reese Organizations: Microsoft, Activision Blizzard, Federal Trade, FTC, Activision, Nintendo, Sony Group, EU, Sony Interactive Entertainment, Google, Nvidia Corp, Thomson

☆ Microsoft Looks to the Stars While Doing Activision Duty
▼ + stars: | 2023-06-17 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Persons: Dow Jones Organizations: microsoft, activision

☆ Factbox: Potential outcomes of FTC legal bids to block Microsoft-Activision deal
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +2 min

The first fight will be in federal court in California, beginning on June 22 and running until June 29. Here are four potential outcomes of the California hearing:* Judge Jacqueline Scott Corley may grant the preliminary injunction and the companies terminate. The FTC lost in federal court and dropped the internal FTC challenge. That can be appealed to a federal appeals court. The next stop after that would be a federal appeals court.

Persons: Jacqueline Scott Corley, Corley, Michael Chappell, Lina Khan, Chappell, Khan, Diane Bartz, Matthew Lewis Organizations: Microsoft, Activision, DirecTV, Federal Trade Commission, FTC, Meta, Thomson Locations: California, Illumina's, Washington

☆ Vodafone and Three merger faces scrutiny from competition regulators
▼ + stars: | 2023-06-15 | by ( Paul Sandle | ) www.reuters.com time to read: +5 min

The $19 billion tie-up will be scrutinised by Britain's Competition and Markets Authority, the antitrust regulator which made global headlines in April when it blocked Microsoft's $69 billion acquisition of "Call of Duty" maker Activision Blizzard. The long-awaited mobile deal reduces the number of networks from four to three, challenging a tenet long held by regulators that four help to keep prices low in major markets. "The government's desire to make the UK a 5G powerhouse requires a lot of investment," he said. One London-based investment banker, who declined to be named, said he put the chance of the deal receiving the green light from regulators at 50%. A major telecoms investor said the deal could be approved, but only with strong remedies, and that could risk undermining its rationale.

Persons: CK Hutchison, Activision Blizzard, Hutchison, Paolo Pescatore, Peter Broadhurst, Moring, James Gray, Sarah Cardell, Robert Finnegan, Gray, Paul Sandle, Amy, Jo Crowley, Sinead Cruise, Kate Holton, Emelia Organizations: Microsoft, Activision, Hutchison, O2, Vodafone, CK, HK, Britain's Competition, Markets Authority, Ofcom, European Commission, Foresight, Hutchison's, UK plc, Victoria, Crowell, CMA, Reuters, National Security and Investment, Britain's, Tesco Mobile, Telefonica, Thomson Locations: Hong Kong, Britain, Europe, China, London, Germany

☆ Microsoft, Activision ask judge for speedy schedule in FTC challenge
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, June 14 (Reuters) - Microsoft (MSFT.O) and Activision Blizzard (ATVI.O) asked a U.S. judge on Wednesday to quickly schedule a case management conference in the Federal Trade Commission's legal bid to block the companies from completing a $69 billion tie-up. U.S. District Judge Edward Davila on Tuesday set a June 22-23 evidentiary hearing and temporarily blocked the parties from completing the deal pending a future decision on whether to grant a preliminary injunction. "Time is of the essence," the companies wrote in a court filing, noting that Microsoft's agreement to acquire Activision has a termination date of July 18 and contains a $3 billion termination fee. "Let there be no doubt, a preliminary injunction ruling is the only decision that matters under these challenging deadlines." Reporting by David Shepardson; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Edward Davila, David Shepardson, Leslie Adler Organizations: Microsoft, Activision Blizzard, Federal Trade, District, Activision, Thomson Locations: U.S

WASHINGTON, June 13 (Reuters) - A U.S. judge late on Tuesday granted the Federal Trade Commission's (FTC) request to temporarily block Microsoft Corp's (MSFT.O) acquisition of Activision Blizzard (ATVI.O) and set a hearing next week. The court scheduled a two-day evidentiary hearing on the FTC's request for a preliminary injunction for June 22-23. The court said the temporary restraining order "is necessary to maintain the status quo while the complaint is pending (and) preserve this court’s ability to order effective relief in the event it determines a preliminary injunction is warranted." Reporting by David Shepardson; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: David Shepardson, Muralikumar Organizations: Federal Trade Commission's, Microsoft, Activision Blizzard, Thomson Locations: U.S

Vodafone and CK Hutchison, which owns the Three UK mobile network, agreed to merge their U.K. businesses, following talks that have been ongoing since last year, the companies said Wednesday. Vodafone will own 51% of the combined business, leaving CK Hutchison the minority stake. "This long-awaited mega merger represents the biggest shake-up in the UK mobile market for over a decade," Kester Mann, director for consumer and connectivity at CCS Insight said in emailed comments. Current Vodafone UK CEO Ahmed Essam will lead the new enterprise, while the present Three UK Chief Financial Officer (CFO) Darren Purkis will assume the CFO position at the merged business. BT acquired EE in 2016, while Telefonica and Liberty Global launched Virgin Media O2 in 2021.

Persons: CK Hutchison, Kester Mann, Ahmed Essam, Darren Purkis, Nick Read, Margherita Della Valle Organizations: Vodafone, CK, CK Hutchison, Insight, BT, Virgin Media O2, EE, O2, Telefonica, Liberty Global, Markets Authority, CMA, Activision Blizzard

☆ Microsoft-Activision: Mega deal caught in crosshairs of antitrust regulators
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: 1 min

June 14 (Reuters) - Microsoft Corp's (MSFT.O) $69 billion acquisition of video game maker Activision Blizzard (ATVI.O) faced another hurdle on Tuesday after a U.S. judge granted a request by the Federal Trade Commission (FTC) to temporarily block the deal. The acquisition has attracted scrutiny from several antitrust enforcers, including Britain's Competition and Markets Authority (CMA), over concerns it would hinder competition in the nascent cloud gaming market. If not for the court order, Microsoft could have closed the deal as early as Friday. Here is a snapshot of key events in the Microsoft-Activision saga:Reporting by Tiyashi Datta in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Tiyashi Datta, Anil D'Silva Organizations: Microsoft, Activision, Federal Trade Commission, Britain's, Markets Authority, Thomson Locations: U.S, Bengaluru

☆ Diablo IV crosses $666 million in sales in five days, a record for Activision Blizzard
▼ + stars: | 2023-06-14 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Activision Blizzard's new Diablo video game broke $666 million in global sales in the span of five days, the company said Wednesday. Diablo IV, which launched June 6, has become Activision subsidiary Blizzard Entertainment's fastest-selling game ever, the company added. Microsoft dominates the space, and with a possible Activision acquisition, it would be able to make popular franchises beyond Diablo exclusive to Microsoft's cloud platform, the CMA said. Diablo IV isn't available on Game Pass, an Activision executive said in March. The sales record, while record breaking for Blizzard, is not an industry record.

Persons: Diablo Organizations: Activision, Blizzard, Federal Trade Commission, Microsoft, FTC, Authority, CMA, Marquee, Electronic Arts, FIFA, Madden Locations: California

☆ FTC injunction on Microsoft-Activision merger 'a positive development', says TD Cowen's Aaron Glick
▼ + stars: | 2023-06-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFTC injunction on Microsoft-Activision merger 'a positive development', says TD Cowen's Aaron GlickAaron Glick, TD Cowen merger arbitrage specialist, joins 'Squawk Box' to discuss the fallout from the FTC's injunction to block Microsoft's proposed acquisition of Activision Blizzard, what's next for the merger, and more.

Persons: Cowen's Aaron Glick Aaron Glick, TD Cowen, what's Organizations: Microsoft, Activision, Activision Blizzard

☆ US FTC asks court to block Microsoft acquisition of Activision
▼ + stars: | 2023-06-12 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

June 12 (Reuters) - The Federal Trade Commission asked a court to temporarily block Microsoft Corp's (MSFT.O) acquisition of Activision Blizzard (ATVI.O) on Monday, seeking to halt the deal from closing before the government's case against the $69 billion deal is heard. The FTC said Microsoft and Activision had signaled the deal could close as soon as Friday and asked a federal judge to block any final agreement before 11:59 p.m ET June 15. Shares in Microsoft closed up 1.5% Monday, while Activision fell 0.8%. "We welcome the opportunity to present our case in federal court," said Microsoft president Brad Smith in a statement. When announcing the deal in January 2022, Microsoft said they expected it would close in their 2023 fiscal year, which ends in June.

Persons: Brad Smith, Joe Biden, Rami Ayyub, David Shepardson, Doina Chiacu, Nick Zieminski, Conor Humphries, Anna Driver Organizations: Federal Trade Commission, Microsoft, Activision Blizzard, FTC, Activision, Nintendo, Sony Group, EU, Sony, U.S, Thomson Locations: Washington

☆ FTC Seeks Injunction to Stop Microsoft From Closing Activision Deal
▼ + stars: | 2023-06-12 | by ( Sarah E. Needleman | Dave Michaels | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/ftc-plans-to-seek-a-restraining-order-to-stop-microsoft-from-closing-activision-deal-305e130b

Persons: Dow Jones Organizations: microsoft, activision

☆ FTC Plans to Seek a Restraining Order to Stop Microsoft From Closing Activision Deal
▼ + stars: | 2023-06-12 | by ( Sarah E. Needleman | Dave Michaels | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/ftc-plans-to-seek-a-restraining-order-to-stop-microsoft-from-closing-activision-deal-305e130b

Persons: Dow Jones Organizations: microsoft, activision

☆ London crypto move is a sign of desperate times
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +2 min

NEW YORK/LONDON, June 12 (Reuters Breakingviews) - UK Prime Minister Rishi Sunak is eager to bring some Silicon Valley glitz to London. Now venture capital investor Andreessen Horowitz is setting up its first non-US office in the British capital, to focus on blockchain and cryptocurrencies. The then-finance minister in 2021 declared as “fantastic” the decision by Deliveroo (ROO.L) to list its shares in London. Despite Sunak’s call for the UK to “embrace new innovations” like the blockchain, Britain’s appetite for crypto remains uncertain. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Rishi Sunak, Andreessen Horowitz, Binance, Sunak, Deliveroo, “ gosh, Bobby Kotick, Anita Ramaswamy, Karen Kwok, Stellantis, Peter Thal Larsen, Streisand Neto Organizations: Reuters, U.S . Securities, Exchange Commission, Coinbase, Stanford University, Chips, Activision Blizzard, Twitter, Brookfield, Thomson Locations: London, U.S, Teck, China

☆ F.T.C. Said to Plan to Sue to Stop Microsoft’s Activision Deal From Closing
▼ + stars: | 2023-06-12 | by ( David Mccabe | Kellen Browning | ) www.nytimes.com time to read: +1 min

The planned lawsuit would be the latest blow to Microsoft’s acquisition of Activision, which makes popular video games like Call of Duty and Candy Crush. sued to block the deal through an in-house court, arguing it would damage competition in various parts of the video game market. The agency plans to file the separate lawsuit on Wednesday because unlike the F.T.C.’s in-house court, a federal court can issue a restraining order to block a purchase from being completed. In April, the British Competition and Markets Authority also moved to stop the deal, though regulators in the European Union said in May that it could go forward. Governments around the world have been challenging the power of tech giants like Microsoft.

Persons: Meta Organizations: Federal Trade Commission, Microsoft, Activision Blizzard, Activision, behemoth, British Competition, Markets Authority, European Union, Amazon, of Justice, Google

☆ CIC Wealth's Malcolm Ethridge anticipates a pullback in mega-cap tech
▼ + stars: | 2023-06-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCIC Wealth's Malcolm Ethridge anticipates a pullback in mega-cap techMalcolm Ethridge, CIC Wealth executive vice president, joins 'Closing Bell' to discuss the FTC's push to block Activision's acquisition of Microsoft.

Persons: Malcolm Ethridge Organizations: Microsoft

☆ Microsoft is facing another hurdle in closing a $70 billion deal to buy Activision Blizzard: a new FTC lawsuit
▼ + stars: | 2023-06-12 | by ( Associated Press | ) www.businessinsider.com time to read: +4 min

The FTC just filed a new lawsuit to seek to stop Microsoft's purchase of Activision Blizzard. Microsoft has been trying to win the OK from global regulators for the nearly $70 billion purchase. This suit, filed in federal court in San Francisco, seeks to stop the deal from closing. "We welcome the opportunity to present our case in federal court," Brad Smith, Microsoft's vice chair and president, said in a statement Monday. "By filing in federal court to enjoin the transaction, the FTC is showing that it won't back down in the face of Microsoft's escalatory tactics."

Persons: Brad Smith, Matt Kent Organizations: FTC, Activision Blizzard, Microsoft, Activision, Morning, Federal Trade Commission, Sony, PlayStation, Nintendo, UK's, Public Citizen, Public Locations: San Francisco, China, Japan, Brazil, South Korea

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