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☆ Activision Blizzard jumps 11% after judge rules Microsoft can buy the video game publisher in a win over FTC
▼ + stars: | 2023-07-11 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

Activision Blizzard stock popped 11% after a judge paved the way for Microsoft to complete its takeover of the game publisher. She said the deal would in fact enhance access to popular game franchises like "Call of Duty" and other titles published by Activision. The company has said it is concerned that Microsoft will make popular franchises like "Call of Duty" exclusive to its consoles. Microsoft has said it doesn't intent to do this, but critics point to the firm's $11 billion takeover of Zenimax in 2021. The deal can now proceed before a hearing that the FTC had scheduled for August, in which it was set to challenge the merger.

Persons: Microsoft's, Jaqueline Scott Corley, Biden, Bobby Kotick Organizations: Activision Blizzard, Microsoft, Federal Trade Commission, Service, Privacy, US, FTC, Activision, That's, Sony, Xbox Locations: Wall, Silicon, Zenimax

☆ Microsoft-Activision deal moves closer as judge denies FTC injunction request
▼ + stars: | 2023-07-11 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

A federal judge in San Francisco has denied the Federal Trade Commission's motion for a preliminary injunction to stop Microsoft from completing its acquisition of video game publisher Activision Blizzard. The judge was deciding whether to grant the FTC's request for an emergency injunction to prevent the deal from closing. Microsoft CEO Satya Nadella and Activision Blizzard CEO Bobby Kotick both testified, as did executives from Alphabet, Nvidia and Sony. Kotick said during the hearings that the Activision Blizzard board didn't see how the deal could continue if the judge were to grant the preliminary injunction. "After today's court decision in the U.S., our focus now turns back to the UK.

Persons: isn't, Jacqueline Scott Corley, Bobby Kotick, Brad Smith, we've, Satya Nadella, we'll, Kotick, Smith Organizations: Federal, Microsoft, Activision Blizzard, FTC, Competition, Markets Authority, Court, Activision, U.S, Northern, Northern District of, PlayStation, Nvidia, Sony, Federal Trade Commission, CMA Locations: San Francisco, United Kingdom, Northern District, Northern District of California, Europe, U.S

☆ Activision Blizzard stock surges 10% after judge rules on Microsoft deal
▼ + stars: | 2023-07-11 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Shares of Activision Blizzard closed up 10% on Tuesday after a judge denied the Federal Trade Commission's motion for a preliminary injunction to stop Microsoft from acquiring the video game maker. Activision Blizzard's stock reached a 52-week high of $92.91 per share, and the move reflects the biggest jump for the video game publisher since the deal was first announced on Jan. 18, 2022. Activision Blizzard shares hit their highest close since July 2021. Microsoft agreed to buy Activision Blizzard for $68.7 billion, or $95 per share, but the acquisition has faced opposition in the U.S. and abroad over concerns that it could stifle competition. The FTC can now bring the decision to the U.S. Court of Appeals for the 9th Circuit, and Microsoft and Activision Blizzard must find a way forward to resolve opposition from the Competition and Markets Authority in the United Kingdom.

Persons: Jacqueline Scott Corley, Bobby Kotick, — CNBC's Jordan Novet Organizations: Activision Blizzard, Federal, Microsoft, Activision, Jan, U.S, Northern, Northern District of, Court, FTC, U.S ., Appeals, Circuit, Competition, Markets Authority Locations: U.S, Northern District, Northern District of California, United Kingdom

☆ Microsoft can close its Activision merger, federal judge rules
▼ + stars: | 2023-07-11 | by ( Brian Fung | ) edition.cnn.com time to read: +6 min

CNN —A federal judge will not block Microsoft (MSFT) from closing its $69 billion deal to acquire video game giant Activision Blizzard, a defeat for US regulators who had asked for a temporary injunction while legal challenges to the merger unfold. Microsoft could potentially finalize the deal with Activision in a matter of days, ahead of a July 18 contractual deadline, or the parties could mutually seek to extend that timeframe. During a five-day hearing last month in federal court, Microsoft executives including CEO Satya Nadella testified that properties such as “Call of Duty” would not be restricted from competitors following the deal’s close. UK officials also previously moved to block the Activision merger in April, citing some of the same concerns the FTC raised in its case and triggering an appeal from Microsoft. “Microsoft and Activision have agreed with the CMA that a stay of the litigation in the UK would be in the public interest and the parties have made a joint submission … to this effect.”

Persons: ”, “, Jacqueline Scott Corley, Corley, Satya Nadella, Tuesday’s, Microsoft’s, “ We’re, Brad Smith, we’ve, Bobby Kotick, Meta’s, ” Douglas Farrar, we’ll, ” Smith Organizations: CNN, Microsoft, Activision, US, Court, Northern, Northern District of, Sony PlayStation, Federal Trade Commission, FTC, Regulators, Nvidia, Nintendo, “, PlayStation, Appeals, Ninth Circuit, Markets, CMA Locations: Northern District, Northern District of California, ”, San Francisco

☆ The biggest takeaways from Microsoft's courtroom showdown with the FTC over Activision Blizzard
▼ + stars: | 2023-06-30 | by ( Jordan Novet | ) www.cnbc.com time to read: +21 min

The impulse to expand Microsoft's gaming business on mobile devices at least in part inspired the Activision acquisition. The impulse to expand Microsoft's gaming business on mobile devices at least in part inspired the Activision acquisition. Jim Ryan, CEO of Sony Interactive Entertainment, wasn't happy with a Microsoft-generated list of Activision Blizzard games that would remain accessible on the PlayStation after the acquisition closes. Jim Ryan, CEO of Sony Interactive Entertainment, wasn't happy with a Microsoft-generated list of Activision Blizzard games that would remain accessible on the PlayStation after the acquisition closes. Activision Blizzard and Microsoft have agreed to terminate the deal if it's not done by July 18.

Persons: Satya Nadella, Phil Spencer, Spencer, James Weingarten, Weingarten, Jim Ryan, Sony, Ryan, Amy Hood, Bobby Kotick, Sarah Bond, Kotick, Amazon Weingarten, Bond, Tim Stuart, Nadella, Bernstein, Mark Moerdler, Hood, Stuart, it's, Jacqueline Scott Corley, she'll Organizations: Northern, Northern District of, Microsoft, Activision Blizzard, Federal Trade Commission, FTC, Sony, PlayStation, Mobile, Activision, Xbox, Zynga, Sega Sammy, Nintendo, Enix, Sony Interactive Entertainment, Management, Sony Group, Amazon, Microsoft's Xbox, Bernstein Research, Symantec, Sony PlayStation Locations: U.S, Northern District, Northern District of California, San Francisco, cybersecurity, United Kingdom, FarmVille, Asia, Japan, Tokyo

That would leave Nintendo (7974.T) and Sony Group (6758.T) out in the cold, the FTC has said. Asked if Microsoft would have any incentive to shut out Sony's PlayStation in order to sell more Microsoft Xbox consoles, Nadella responded: "It makes no economic sense and no strategic sense." To address the FTC concerns, Microsoft has agreed to license "Call of Duty" to rivals. The FTC has asked Judge Jacqueline Scott Corley in San Francisco to temporarily stop the deal from closing in order to allow the agency's in-house judge to decide the case. Resolving the U.S. lawsuit is one of several key antitrust battles Microsoft and Activision have fought around the world.

Persons: Microsoft Corporation Satya Nadella, Read, Satya Nadella, Nadella, Jacqueline Scott Corley, Biden, Bobby Kotick, Diane Bartz, Lincoln Organizations: Microsoft Corporation, . Federal Trade Commission, Microsoft, Activision Blizzard, Federal Trade Commission, Activision, Nintendo, Sony Group, FTC, PlayStation, European Union, Thomson Locations: California, Downtown San Francisco , California, U.S, WASHINGTON, San Francisco

"You would have a revolt if you were to remove the game from one platform," said Kotick. He said that removing "Call of Duty" from PlayStation, which is made by Sony Group (6758.T), would be "very detrimental" to Activision's business. The Federal Trade Commission has asked a judge to stop the Microsoft acquisition temporarily in order to allow the agency's in-house judge to decide the case. Microsoft CEO Satya Nadella is scheduled to testify on Wednesday afternoon before Judge Jacqueline Scott Corley in federal court. The agency says the transaction would give Microsoft, which makes the Xbox console, exclusive access to Activision games, leaving Nintendo (7974.T) and Sony Group out in the cold.

Persons: Bobby Kotick, Kotick, Satya Nadella, Jacqueline Scott Corley, Biden, Diane Bartz, Greg Bensinger, Matthew Lewis Organizations: FRANCISCO, Activision, Microsoft, PlayStation, Sony Group, Federal Trade Commission, FTC, Nintendo, Britain's, Markets Authority, Thomson Locations: United States, Washington, San Francisco

☆ 'Call of Duty' maker to invest in Barcelona after EU approves Microsoft deal
▼ + stars: | 2023-06-28 | by ( Paul Sandle | ) www.reuters.com time to read: +2 min

LONDON, June 28 (Reuters) - Activision Blizzard (ATVI.O) said its studio that developed "Call of Duty" would set up shop in Barcelona, putting into action its pledge to invest in Europe after Brussels approved Microsoft's $69 billion acquisition of the company in May. In contrast, it said it would "meaningfully expand" its investment and workforce in the European Union after the deal received the green light there. Microsoft and Activision Blizzard are battling antitrust regulators on both sides of the Atlantic to clinch the deal, the biggest ever in video gaming. Activision Blizzard CEO Bobby Kotick and his Microsoft counterpart Satya Nadella are due to testify in a court in San Francisco on Wednesday to urge a judge to allow the merger. Microsoft is appealing the British veto with the "aggressive" support of Activision.

Persons: Bobby Kotick, Satya Nadella, Kate Holton, Alexander Smith Organizations: Activision, Digital Legends, Microsoft, European Union, Activision Blizzard, Atlantic, Federal Trade Commission, Thomson Locations: Barcelona, Europe, Brussels, U.S, Spanish, Guildford, Warrington, England, European, San Francisco, Britain

☆ Microsoft, Activision CEOs expected to urge US judge to allow $69 billion merger
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

The Federal Trade Commission has asked a judge to stop the transaction temporarily in order to allow the agency's in-house judge to decide the case. Activision Blizzard CEO Bobby Kotick is expected to testify on Wednesday morning, followed by Microsoft CEO Satya Nadella in the afternoon. The case, which is being heard in federal court in San Francisco, will be decided by Judge Jacqueline Scott Corley. The FTC says the transaction would give Microsoft exclusive access to Activision games, leaving Nintendo (7974.T) and Sony Group (6758.T) out in the cold. Reporting by Diane Bartz in Washington and Greg Bensinger in San Francisco Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Bobby Kotick, Satya Nadella, Jacqueline Scott Corley, Diane Bartz, Greg Bensinger, Matthew Lewis Organizations: FRANCISCO, U.S, Microsoft, Activision, Federal Trade Commission, FTC, Nintendo, Sony Group, Britain's, Markets Authority, Thomson Locations: San Francisco, United States, Washington

☆ Microsoft and Activision Chiefs Testify Merger Will Benefit Consumers
▼ + stars: | 2023-06-28 | by ( Kellen Browning | ) www.nytimes.com time to read: +1 min

Satya Nadella, the chief executive of Microsoft, appeared in federal court on Wednesday to pledge his support for open platforms and consumer choice, underscoring the tech giant’s commitment to closing its $70 billion acquisition of Activision Blizzard over regulators’ objections. “If it was up to me, I would love to get rid of the entire ‘exclusives on consoles,’” Mr. Nadella testified, rebutting claims from tech regulators that Microsoft’s deal for the video game giant would curtail competition and restrict Activision’s games only to players on Microsoft’s Xbox console. “I have no love for that world.”The fourth day of a hearing in U.S. District Court in San Francisco that could determine the deal’s outcome was the highest-profile session, with appearances by Mr. Nadella and Activision’s chief executive, Bobby Kotick. The Federal Trade Commission’s challenge of the blockbuster acquisition, led by its chair, Lina Khan, is viewed as a test of whether more aggressive efforts to curb tech giants can be successful. is seeking a preliminary injunction that would prohibit the companies from closing the deal before the agency has the chance to argue its case in its internal court.

Persons: Satya Nadella, ’, Nadella, rebutting, Bobby Kotick, Lina Khan Organizations: Microsoft, Activision Blizzard, Federal Locations: U.S, San Francisco

The Federal Trade Commission has asked a judge to stop the proposed acquisition because, it argues, it would give Microsoft, maker of the Xbox console, exclusive access to Activision games, which include the highly popular "Call of Duty." Asked if Microsoft would have any incentive to refuse to allow the games on Sony's PlayStation in order to sell more of its Xbox consoles, Nadella responded, "It makes no economic sense and no strategic sense." To address the FTC concerns, Microsoft has agreed to license the blockbuster "Call of Duty" to rivals. It has also argued that it is better off financially by licensing the games to all comers. Kotick argued there was no incentive for Microsoft, if it closes the deal for Activision, to restrict who offers the company's games.

Persons: Microsoft Corporation Satya Nadella, Satya Nadella, Nadella, Jacqueline Scott Corley, Biden, Bobby Kotick, Kotick, Diane Bartz, Greg Bensinger, Matthew Lewis Organizations: Microsoft Corporation, . Federal Trade Commission, Microsoft, Activision Blizzard, FRANCISCO, Activision, Federal Trade Commission, Nintendo, Sony Group, FTC, PlayStation, Britain's, Markets Authority, Thomson Locations: California, Downtown San Francisco , California, U.S, WASHINGTON, San Francisco, United States, Washington

☆ 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

☆ 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, 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

The Federal Trade Commission on Monday applied for a temporary restraining order and preliminary injunction seeking to block Microsoft's acquisition of Activision Blizzard before the deal's July 18 deadline. If the deal falls apart, Microsoft might wind up owing Activision Blizzard a termination fee worth up to $3 billion. The FTC sued to block the acquisition in December 2022, choosing to bring the case before its internal administrative law judge. A hearing on the FTC's case will begin on Aug. 2, the agency said in Monday's filing. Regulators had originally felt that Microsoft might be able to prevent other companies from distributing Activision Blizzard games on other consoles other than Microsoft's Xbox.

Persons: Satya Nadella, it's, Brad Smith, Bobby Kotick, Smith, Jeremy Hunt, Jim Ryan, Lulu Cheng Meservey Organizations: Microsoft Corp, Bloomberg, Economic, Federal Trade Commission, Activision Blizzard, CNBC, FTC, Microsoft, Activision, Sony, Xbox, Competition, Markets Authority, Regulators, Sony PlayStation, Sony Interactive Locations: Davos, Switzerland, U.S

☆ 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

☆ Berkshire stake in Activision Blizzard was 'one of the pinnacles' of my career, says Bobby Kotick
▼ + stars: | 2023-05-06 | 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 EmailBerkshire stake in Activision Blizzard was 'one of the pinnacles' of my career, says Bobby KotickActivision Blizzard CEO Bobby Kotick speaks with CNBC from the 2023 Berkshire Hathaway annual shareholders meeting

☆ FTC chair met UK antitrust officials last week but did not talk deals
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +3 min

Graeme Jennings/Pool via REUTERSWASHINGTON, April 27 (Reuters) - Federal Trade Commission Chair Lina Khan met with the heads of other antitrust enforcers, including Britain's, last week but no mergers were discussed, according to an FTC official who spoke amid allegations the FTC and UK are working together to block Microsoft's bid for Activision. The FTC official, speaking on Thursday, was responding to comments made by the game-maker's CEO, Bobby Kotick, who told CNBC he believed that the U.S. agency had pushed Britain's CMA to stop the planned acquisition. Kotick said: "I was surprised to learn that Lina Khan and the head of the CMA had a meeting a week and a half ago in Washington. The FTC official, who was not authorized to speak on the record but who was present at the virtual meeting, said that officials had no discussions of any mergers being reviewed or other ongoing investigations. When a deal appears blatantly anticompetitive then independent antitrust regulators can simply make their own judgments," said spokesperson Douglas Farrar.

☆ Watch CNBC's full interview with Activision Blizzard CEO Bobby Kotick
▼ + stars: | 2023-04-27 | 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 EmailWatch CNBC's full interview with Activision Blizzard CEO Bobby KotickActivision Blizzard CEO Bobby Kotick joins 'Squawk Box' to discuss the fallout from the Microsoft-Activision merger ruling, whether he was surprised by the CMA decision, and what the company plans to do next.

☆ Activision Blizzard CEO on blocked merger: It was a flawed ruling in every respect
▼ + stars: | 2023-04-27 | 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 EmailActivision Blizzard CEO on blocked merger: It was a flawed ruling in every respectActivision Blizzard CEO Bobby Kotick joins 'Squawk Box' to discuss the fallout from the Microsoft-Activision merger ruling, whether he was surprised by the CMA decision, and what the company plans to do next.

☆ UK blocks Microsoft's $69 bln Activision deal over cloud gaming concerns
▼ + stars: | 2023-04-26 | by ( Paul Sandle | ) www.reuters.com time to read: +4 min

The country's antitrust regulator said on Wednesday that Microsoft's commitment to offer access to Activision's multi-billion dollar "Call of Duty" franchise to leading cloud gaming platforms would not effectively remedy its concerns. The gaming company also reported quarterly results on Wednesday, a day earlier than scheduled, beating quarterly bookings estimates although that seemed to do little to allay investor concerns about Britain's move. Europe will decide on the Activision deal by May 22. The CMA said the cloud gaming market was forecast to be worth 11 billion pounds ($13.7 billion) globally by 2026. The CMA said Microsoft had an estimated 60%-70% of global cloud gaming services as well as competitive advantages including owning Xbox, PC operating system Windows and cloud provider Azure.

☆ UK blocks Microsoft $69 bln Activision deal over cloud gaming concerns
▼ + stars: | 2023-04-26 | by ( Paul Sandle | ) www.reuters.com time to read: +4 min

The country's antitrust regulator said on Wednesday that Microsoft's commitment to offer access to Activision's multi-billion dollar "Call of Duty" franchise to leading cloud gaming platforms would not effectively remedy its concerns. Microsoft announced its Activision bid in January 2022 to boost its firepower in a video gaming market led by Tencent (0700.HK) and Sony (6758.T). Europe will decide on the Activision deal by May 22. The CMA said the cloud gaming market was forecast to be worth 11 billion pounds ($13.7 billion) globally by 2026. The CMA said Microsoft had an estimated 60%-70% of global cloud gaming services as well as competitive advantages including owning Xbox, PC operating system Windows and cloud provider Azure.

☆ UK blocks Microsoft takeover of Activision Blizzard
▼ + stars: | 2023-04-26 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —The UK antitrust regulator has blocked Microsoft’s $69 billion purchase of Activision Blizzard, thwarting one of the tech industry’s biggest deals over concerns it will stifle competition in cloud gaming. “The cloud allows UK gamers to avoid buying expensive gaming consoles and PCs and gives them much more flexibility and choice as to how they play. Allowing Microsoft to take such a strong position in the cloud gaming market just as it begins to grow rapidly would risk undermining the innovation that is crucial to the development of these opportunities,” it added. “Alongside Microsoft, we can and will contest this decision, and we’ve already begun the work to appeal to the UK Competition Appeals Tribunal,” Activision Blizzard CEO Bobby Kotick said in a statement. “Cloud gaming needs a free, competitive market to drive innovation and choice.”The UK cloud gaming market is expected to be worth up to £1 billion ($1.2 billion) by 2026, around 9% of the global market, according to the Competition and Markets Authority.

☆ Activision Blizzard pre-releases earnings after Britain blocks Microsoft deal
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

April 26 (Reuters) - "Call of Duty" maker Activision Blizzard (ATVI.O) beat quarterly bookings estimates on Wednesday, as it reported results a day earlier to allay concerns about its business after Britain blocked its $69 billion buyout by Microsoft Corp (MSFT.O). Activision said it planned to fully support Microsoft's efforts to appeal the decision, which has dealt an unexpected blow to the biggest-ever deal in gaming over concerns it would hinder competition in cloud gaming. "We remain confident that our deal with Microsoft benefits competition, consumers and job creation in markets around the world, especially in the UK," Activision CEO Bobby Kotick said. Activision reported quarterly bookings of $1.86 billion, compared with analysts' estimate of $1.79 billion, according to Refinitiv. Net income rose to $740 million, or 93 cents per share, from $395 million, or 50 cents per share, a year earlier.

☆ Microsoft’s blockbuster deal to buy Activision is in jeopardy. Here’s what could happen next
▼ + stars: | 2023-04-26 | by ( Brian Fung | ) edition.cnn.com time to read: +5 min

UK officials said Wednesday they will block the company’s $69 billion deal to acquire video game giant Activision-Blizzard. It could also complicate Microsoft’s future in the gaming industry and severely upend Activision, which was in the throes of an internal crisis in the months leading up to the deal. By buying Activision, Microsoft would become the third-largest video game publisher in the world after Tencent and Sony. (The UK dropped its concerns about the console market in March, while the European Union reportedly does not oppose the deal.) In a memo Wednesday to employees, Kotick attempted to strike an optimistic note, whatever the outcome of the deal may be.

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