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☆ Microsoft’s Activision Deal Clears Main Hurdle as U.K. Regulator Accepts Changes
▼ + stars: | 2023-09-22 | by ( Elena Vardon | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Organizations: activision

☆ Britain says may clear restructured Microsoft-Activision deal
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Sept 22 - Microsoft's (MSFT.O) restructured acquisition of Activision Blizzard (ATVI.O) "opens the door" to the deal being cleared, Britain's antitrust regulator said on Friday. The Ubisoft divestment "substantially addresses previous concerns," the UK's Competition and Markets Authority (CMA) said in a statement. "While the CMA has identified limited residual concerns with the new deal, Microsoft has put forward remedies which the CMA has provisionally concluded should address these issues," the regulator said. The CMA said there were "residual concerns" that certain provisions in the Ubisoft deal could be circumvented, terminated or not enforced.

Persons: Dado Ruvic, Brad Smith, Yadarisa, Paul Sandle, Varun, Jason Neely Organizations: Microsoft, Activision, REUTERS, Activision Blizzard, Ubisoft Entertainment, Ubisoft, Markets Authority, CMA, Thomson Locations: U.S, Bengaluru, London

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. "While the CMA has identified limited residual concerns with the new deal, Microsoft has put forward remedies which the CMA has provisionally concluded should address these issues," the regulator said. The European Union waved the deal through in May after accepting Microsoft's commitments to license Activision's games to other platforms, the same remedies that Britain had rejected. The U.S. Federal Trade Commission also opposes the deal, but it has failed in its attempts to stop it. The CMA said there were "residual concerns" around the Ubisoft deal, but Microsoft has offered remedies to ensure the terms of the sale were enforceable by the regulator.

Persons: Dado Ruvic, Brad Smith, Sarah Cardell, Sophie Lund, Yates, Hargreaves Lansdown, Yadarisa, Paul Sandle, Varun H, Jason Neely, Sharon Singleton Organizations: Microsoft, Activision, REUTERS, Ubisoft UK's CMA, CMA, Activision Blizzard, Ubisoft Entertainment, Competition, Markets Authority, Ubisoft, Union, U.S . Federal Trade Commission, Thomson Locations: U.S, Britain, Bengaluru, London

☆ Microsoft-Activision: Ubisoft deal opens doors to Britain's nod
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: 1 min

Sept 22 (Reuters) - Microsoft's (MSFT.O) restructured acquisition of Activision Blizzard (ATVI.O) "opens the door" to the deal being cleared, Britain's antitrust regulator said on Friday. Last month, "Call of Duty" maker Activision agreed to sell its non-European streaming rights to Ubisoft Entertainment (UBIP.PA) to get the biggest deal yet in video-gaming past Britain's Competition and Markets Authority (CMA). Here is a snapshot of key events in the Microsoft-Activision saga:Reporting by Tiyashi Datta, Jaspreet Singh and Yadarisa Shabong in Bengaluru; Editing by Anil D'Silva, Shinjini Ganguli and Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Tiyashi Datta, Jaspreet Singh, Yadarisa, Anil D'Silva, Shinjini Organizations: Activision Blizzard, Activision, Ubisoft Entertainment, Markets Authority, Microsoft, Thomson Locations: Bengaluru

☆ Corporations say they have a new No. 1 risk, and they're spending big to defeat it
▼ + stars: | 2023-09-22 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +10 min

The Q3 survey of corporate finance chiefs finds a sharp rise in CFOs pointing to government regulation as the biggest risk factor for their business. From Q1 to Q3 2023, the percentage of CFOs saying government regulation is their biggest risk jumped from roughly 6% to 40%. This quarter, only 10% of CFOs cited inflation, while the 40% who pointed to regulation represented a more than doubling quarter over quarter. watch nowFor the business community's biggest advocacy group, getting back to normal also means confronting a new normal. "The emergence of government policy as risk relative to other risks has been growing substantially over the past decade."

Persons: Mark Wilson, Trump, Sanjay Patnaik, Neil Bradley, Patnaik, Obama, Biden, Bradley, it's, Dan Clifton, we've, It's, UnitedHealth —, Cisco's, Clifton, Lina Khan, She's Organizations: U.S, Capitol, Getty, CNBC, CNBC Global, Federal Trade Commission, Google, Microsoft, Amazon, U.S . Chamber of Commerce, Brookings Institute, Corporate, industrials, Corporations, ., Apple, market's, Union, EU, Horizon Therapeutics, Activision Locations: WASHINGTON, DC, Washington ,, Covid, Russia, Ukraine, China, U.S

☆ Microsoft's $68.7 billion Activision acquisition clears key hurdle after UK regulator provisionally approves deal
▼ + stars: | 2023-09-22 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

The CMA provisionally greenlit Microsoft's acquisition of the "Call of Duty" developer. It comes after a lengthy period in which the deal was threatened because of competition concerns. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The CMA will conduct a consultation until October 6, before the acquisition agreement expires on October 18. Activision said in a statement issued to Insider, "The CMA's preliminary approval is great news for our future with Microsoft."

Persons: Activision Blizzard, Sarah Cardell, Brad Smith, We're Organizations: Microsoft, Activision Blizzard, CMA, Service, Activision, Markets, Ubisoft, Cloud Gaming Locations: Wall, Silicon

☆ UK regulator says it may clear Microsoft's new Activision Blizzard takeover offer
▼ + stars: | 2023-09-22 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Microsoft submitted a new proposal to U.K. regulators for the takeover of American game publisher Activision Blizzard after its initial proposal was rejected. LONDON — The U.K.'s competition regulator on Friday said Microsoft 's restructured takeover proposal of Activision Blizzard , submitted in August, "opens the door to the deal being cleared." The U.K. Competition and Markets Authority had blocked the Redmond tech giant's initial $69 billion transaction, first put forward in January 2022, on concerns that it would restrict competition in the nascent cloud gaming sector. Critically, cloud gaming could eliminate the need for costly specialized consoles, allowing players to access the games on PCs, mobile phones and TVs. EU officials were first to clear the deal in May, after Microsoft offered concessions to the tune of royalty-free licenses to cloud gaming platforms to stream Activision games that a buyer has purchased.

Persons: —, Brad Smith, We're, Bobby Kotick Organizations: Microsoft, Activision Blizzard, LONDON, Competition, Markets Authority, Redmond, Activision PC, Activision, Ubisoft Entertainment, CMA, Ubisoft, Netflix, European Union, U.S . Federal Trade Commission Locations: San Francisco

☆ Microsoft Closes In on Activision Deal After Britain Signals Approval
▼ + stars: | 2023-09-22 | by ( Adam Satariano | More About Adam Satariano | ) www.nytimes.com time to read: +1 min

Microsoft scored a major victory on Friday in its long-running effort to buy the video game company Activision Blizzard, as British authorities signaled they would approve the deal after the companies took action that “substantially addresses” remaining antitrust concerns. Britain’s Competition and Markets Authority is the last major agency that must sign off before Microsoft can complete the $69 billion acquisition. The regulator initially tried to block the deal, saying it would undercut competition in the game industry, but reversed course after Microsoft agreed not to purchase a part of Activision’s business associated with so-called cloud gaming. First announced in January 2022, the acquisition has been heavily scrutinized by antitrust officials around the world and held up as a test of whether regulators would approve a tech megamerger amid concerns about the industry’s power. considers that the restructured deal makes important changes that substantially address the concerns it set out in relation to the original transaction earlier this year,” the agency said in a statement on Friday.

Organizations: Microsoft, Activision Blizzard, Markets

☆ Morning Bid: Edgy market calm after worst day of 2023
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +5 min

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. World stocks captured by MSCI's all-country index (.MIWD0000PUS) recorded their worst day of the year so far - dropping 1.69%. The yen fell back again but the dollar/yen rate remained below Thursday's 2023 high of 148.45. The pound hit its lowest level since March and 10-year British gilt yields fell to their lowest level since July. Elsewhere, oil prices nudged higher again on Friday as concerns that a Russian ban on fuel exports could tighten global.

Persons: Sarah Silbiger, Mike Dolan Punch, Rupert Murdoch, Lisa Cook, Susan Collins, Neel Kashkari, Mary Daly Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Bank of Japan, Fed, European Central Bank and Bank of England, Treasury, Sterling, of, Activision Blizzard, Markets Authority, Ubisoft, Cisco Systems, Cisco, Fox Corp, News Corp, JPMorgan, Federal Reserve, Boston, Minneapolis Fed, San Francisco Fed, Reuters Graphics Reuters, Reuters, Thomson Locations: Washington ,, U.S, Australia, Britain, United States, India

☆ Stocks making the biggest moves midday: Ford, Scholastic, Squarespace, Deere and more
▼ + stars: | 2023-09-22 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Ford — Shares popped about 3% in midday trading after a CNBC report said both Ford and the United Auto Workers union are making headway on negotiations as the strike continues. Squarespace — The website builder popped about 5% after UBS initiated coverage of the stock at a buy. Scholastic — The publishing and media company stock plummeted more than 14% after reporting an earnings miss on the top and bottom line. Shares popped nearly 25% during its Nasdaq debut on Sept. 14 but are now trading just above the stock's $51 initial public offering price. Chinese e-commerce stocks — U.S. shares of both PDD and Alibaba added roughly 4% and 5%, respectively, while JD.com stock climbed 2.2%.

Persons: Canaccord Genuity, Alibaba, — CNBC's Pia Singh, Alex Harring, Hakyung Kim, Samantha Subin Organizations: Ford, CNBC, United Auto Workers, UBS, Scholastic, FactSet, Arm Holdings, Susquehanna, Nasdaq, Deere, Bloomberg, Activision, Microsoft

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Ford Motor (F.N) advanced 2.5% after Reuters reported the United Auto Workers (UAW) was set to announce progress in labor contract talks with the carmaker. Several Fed policymakers, including policy voting member Minneapolis President Neel Kashkari, are set to speak during the day. Advancing issues outnumbered decliners by a 2.11-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 26 new lows, while the Nasdaq recorded 14 new highs and 102 new lows.

Persons: Brendan McDermid, dampening, Jason Pride, Neel Kashkari, Li Auto, Alibaba, Bernstein, Wells, Ankika Biswas, Shristi, Anil D'Silva, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Activision, Microsoft, Ford, Reuters, UAW, Dow, Nasdaq, United Auto Workers, U.S, Treasury, Apple, Nvidia, Minneapolis, Dow Jones, PDD Holdings, Baidu, Hong, Charter Communications, NYSE, Thomson Locations: New York City, U.S, Glenmede, Philadelphia, Hong Kong, Bengaluru

☆ UK says grounds to clear Microsoft's Activision deal
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: 1 min

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsLONDON, Sept 22 (Reuters) - Britain's antitrust regulator on Friday said there were grounds to clear Microsoft's $69 billion acquisition of Call of Duty owner Activision Blizzard. "The CMA now gives notice ... to the Parties that it considers that there are reasonable grounds for believing that the undertakings offered, or a modified version of them, might be accepted by the CMA ... and that it is considering the offer," the CMA said in a document published by the British government. Reporting by William James; Editing by Paul SandleOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Activision Blizzard, William James, Paul Sandle Organizations: Microsoft, Activision, REUTERS, CMA, Thomson Locations: British

LONDON (AP) — British competition regulators gave preliminary approval Friday to Microsoft’s restructured $69 billion deal to buy video game maker Activision Blizzard, easing a final global hurdle that paves the way for one of the largest tech transactions in history to go through. The updated offer “opens the door to the deal being cleared,” the watchdog said, though there are lingering concerns. “The CMA’s position has been consistent throughout — this merger could only go ahead if competition, innovation and choice in cloud gaming was preserved," CEO Sarah Cardell said. Crucially, it got a thumbs-up from the 27-nation European Union after agreeing to allow users and cloud gaming platforms to stream its titles without paying royalties for 10 years. The CMA then put its original decision on hold and opened a new investigation into the revamped proposal.

Persons: Sarah Cardell, “, Brad Smith, ”, Bobby Kotick Organizations: Microsoft’s, Activision, The, Markets Authority, Microsoft, Union, U.S . Federal Trade Commission, CMA, Ubisoft Entertainment Locations: British, U.S, Britain

☆ Cramer: Buy stocks now to catch the rally when the Fed ends its tightening cycle
▼ + stars: | 2023-09-21 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Our September meeting comes at a difficult time for the stock market. As I said in a recent Sunday column , money can and will be made in this tightening cycle. With the exception of September and the months of February and August, the stock market has been fairly robust in 2023. This kind of bullish move during a tightening cycle is not exceptional. The market has gained 13% on average when a tightening cycle is completed.

Persons: —, That's, Jim Cramer's, Jim Cramer, Jim, Jerome Powell, Chip Somodevilla Organizations: Treasury, Fed, Arm Holdings, Federal Trade Commission, Activision Blizzard, Microsoft, Jim Cramer's Charitable, CNBC, Federal Reserve, Getty Locations: Washington ,

☆ UK minister rejects Microsoft criticism of decision to block Activision deal
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +1 min

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Sept 19 (Reuters) - British business minister Kemi Badenoch said on Tuesday she did not agree with Microsoft (MSFT.O) President Brad Smith that the Competition and Market Authority's initial decision to block its purchase of videogame maker Activision was bad for Britain. "Call of Duty" maker Activision Blizzard (ATVI.O) has since said it will sell its streaming rights in a fresh attempt to win approval from Britain's anti-trust regulator, the CMA, for its $69 billion sale to Microsoft. "If the CMA is doing something wrong, I think that will become evident through a pattern which is not yet the case." Reporting by Alistair Smout and Muvija M; Editing by Sachin RavikumarOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Kemi Badenoch, Brad Smith, Badenoch, Alistair Smout, Sachin Ravikumar Organizations: Microsoft, Activision, REUTERS, Britain, CMA, Thomson Locations: United States

☆ Microsoft's Xbox plans revealed in emails tied to FTC case
▼ + stars: | 2023-09-19 | by ( Kevin Collier | ) www.cnbc.com time to read: +2 min

An attorney with the Federal Trade Commission (FTC) carries an XBOX game console box following a hearing at the Phillip Burton Federal Building and U.S. A huge collection of purported Xbox files related to the Federal Trade Commission's case against Microsoft have been published online, spilling some of the company's plans for the gaming console into public view. They include more than 100 documents, many of them partially redacted, related to Microsoft's Xbox plans. The files include emails from corporate executives like Microsoft Gaming CEO Phil Spencer and timetables for gaming releases. Some of the documents include Microsoft Gaming senior employees discussing the value of the exclusive hold they have on key video game titles.

Persons: Phillip Burton, Douglas Farrar, Phil Spencer, It's Organizations: Federal Trade Commission, Phillip Burton Federal Building, Federal Trade, Microsoft, U.S, Northern, Northern District of, Activision Blizzard, NBC News, Microsoft Gaming, Sony, Elder Locations: San Francisco , California, Northern District, Northern District of California

☆ Microsoft projects two new areas of growth for gaming, leaked document says: Mobile and ads
▼ + stars: | 2023-09-19 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

The document does not mention the $68.7 billion Activision deal, which had been announced months earlier. It shows gaming revenue doubling to $36 billion in the 2030 fiscal year, compared with a forecast of $18 billion for the 2022 fiscal year. Actual fiscal 2022 gaming revenue totaled $16.23 billion, according to an annual report. And it indicated that management saw revenue from mobile transactions reaching $2.6 billion, compared with none in fiscal 2022. The total of the two categories is $4 billion, or 11% of total gaming revenue.

Persons: Jacqueline Scott Corley, Corley, Phil Spencer, Candy, Spencer, Amy Hood Organizations: Microsoft, Federal Trade Commission, Activision Blizzard, U.S, Northern, Northern District of, Activision, Twitter, Yahoo, Xbox, King Digital Entertainment, United Kingdom's, Markets Authority, Ubisoft Locations: Northern District, Northern District of California

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. The European Commission had cleared the deal in May after Microsoft agreed to license popular Activision games such as "Call of Duty" to rival game-streaming platforms. That clearance was given before Microsoft proposed the Ubisoft deal to appease the UK regulator. However, the EU antitrust watchdog has since emailed companies to ask for feedback, the sources told Reuters. An EU investigation looks unlikely, other sources said, citing the structuring of Microsoft's CMA proposal to ensure compliance with its EU remedies.

Persons: Dado Ruvic, Microsoft's, Foo Yun, Jason Neely, David Goodman Organizations: Microsoft, Activision, REUTERS, Rights, Activision Blizzard, Ubisoft Entertainment, Britain's, Markets Authority, European Commission, Ubisoft, Reuters, CMA, Thomson Locations: Rights BRUSSELS, U.S, EU

☆ Cramer: These things could soon break the bulls' way, plus 4 stocks to buy
▼ + stars: | 2023-09-10 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

If you don’t know a soul that is bullish — and I mean flat-out positive — you may need some new friends. I say I am a naked opportunist and I feel naked and alone right now in saying we might have a bunch of things that could break the bulls' way. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: —, We’ve, sotto, Shawn Fain, Leon Trotsky, Fain, Lululemon, LULU, Robert Bradway, Amgen, Lina Khan, Khan, Trump, Estee Lauder, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim, Virginia Sherwood Organizations: Federal Reserve, Softbank's Arm Holdings, United Auto Workers, UAW, Federal Trade, Activision Blizzard, Horizon Therapeutics, FTC, Apple, GE HealthCare, Disney, Bausch Health, Honeywell, Jim Cramer's Charitable, CNBC, NYSE Locations: Russian, U.S, Wells

REUTERS/Brendan McDermid Acquire Licensing RightsSept 6 (Reuters) - GameStop (GME.N) on Wednesday beat Wall Street estimates for quarterly revenue and posted a smaller-than-expected loss, buoyed by strong demand for videogames, collectibles and consoles. The company's shares rose nearly 6% in extended trading as the results indicated that efforts to boost its digital presence were paying off. Sales of software and collectibles contributed to about 49% of total revenue in the second quarter, the company said. Revenue rose about 2% to $1.16 billion for the quarter ended July 29, GameStop said, topping estimates of $1.14 billion, according to three analysts polled by LSEG. On an adjusted basis, GameStop lost 3 cents per share, compared with analysts' estimates of a loss of 14 cents.

Persons: Brendan McDermid, Ryan Cohen, John Oh, Akash Sriram, Sriraj Organizations: GameStop, New York Stock Exchange, REUTERS, Wednesday, Wall, Gamers, Activision, Arts, LSEG, Thomson Locations: New York City, U.S, Bengaluru

☆ Microsoft gaming chief Phil Spencer says Starfield is seeing 'huge demand'
▼ + stars: | 2023-09-06 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Phil Spencer, CEO of Microsoft Gaming, appears at the Political Opening of the Gamescom conference in Cologne, Germany, on Aug. 23, 2023. Microsoft is seeing "huge demand" for its new Starfield video game, Phil Spencer, the software company's CEO of gaming, said Wednesday. Microsoft picked up the game through its $8.1 billion acquisition of game publisher ZeniMax, the parent of Bethesda. Spencer said Starfield is the most wish-listed game the company has had on the Steam game store. Spencer said tens of millions of Game Pass subscribers were getting a chance to play Starfield on Wednesday.

Persons: Phil Spencer, Spencer, CNBC's Steve Kovach, ZeniMax, Jim Ryan, Ryan, We've, we've, Starfield Organizations: Microsoft Gaming, Microsoft, Microsoft's Bethesda Game Studios, PlayStation, Gaming, Activision Blizzard, Sony Interactive Entertainment, Activision, Sony, Nintendo, Markets Authority, Ubisoft Locations: Cologne, Germany, Microsoft's, Bethesda, San Francisco

☆ Apple buying Disney would be a storybook ending for Iger, but fairy tales aren't real
▼ + stars: | 2023-09-06 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

Apple co-founder Steve Jobs became Disney's largest individual shareholder after Disney acquired Pixar, then owned by Jobs, for $7.4 billion in 2006. The deal also gave Jobs a seat on the Disney board and fostered a close friendship between Jobs and Disney Chief Executive Bob Iger. Buying Disney wouldn't even classify as a bet-the-company transaction. Still, it's not clear Apple would have any interest in buying Disney. On one hand, buying Disney would supercharge those fledging businesses, which could help with Apple device churn while growing subscription revenue.

Persons: Will Apple, Steve Jobs, Bob Iger, Iger, Jobs, Steve, Steve —, it's, Apple, Apple hasn't, that's Organizations: Apple, Beats Electronics, Microsoft, Activision Blizzard, Disney, Pixar, Jobs, ESPN

☆ Analysis: FTC settlement could shelter Amgen from US price cuts, taxes
▼ + stars: | 2023-09-05 | by ( Deena Beasley | ) www.reuters.com time to read: +5 min

An Amgen sign is seen at the company's office in South San Francisco, California October 21, 2013. With Horizon, Amgen acquires drugs that won't be affected by new U.S. negotiation requirements for blockbuster medications as well as possible tax advantages stemming from Horizon's headquarters in Ireland. Analysts said the Horizon deal could also help Amgen's tax situation. The United States has largely eliminated once-lucrative corporate tax benefits for pharmaceutical manufacturing operations in Puerto Rico, a U.S. territory. Horizon offers Amgen "potentially a better tax jurisdiction related to Irish manufacturing plants ... Amgen has a new manufacturing process they could potentially move there," Cowen's Werber said.

Persons: Robert Galbraith, Abiel Garcia, John Kness, Donald Trump, Garcia, Evan Seigerman, Lina Khan, Cowen, Biden, Michael Yee, Amgen, Cowen's Werber, Deena Beasley, Peter Henderson, Paul Simao Organizations: REUTERS, U.S . Federal Trade, Horizon Therapeutics, U.S, District, Federal, Activision, Horizon, Amgen, BMO Capital Markets, FTC, Reuters, U.S . Food, Drug Administration, Jefferies, Medicare, Internal Revenue Service, United, Thomson Locations: South San Francisco , California, Amgen, Kesselman, Ireland, U.S, Puerto Rico, United States, Irish

☆ SAG-AFTRA requests approval to strike against video game companies
▼ + stars: | 2023-09-02 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +4 min

New York CNN —SAG-AFTRA’s National Board is unanimously seeking permission from union members to strike against a number of video game makers ahead of negotiations resuming later this month. The union’s initial contract with major video game companies, the Interactive Media Agreement, was extended past its initial expiration date last fall as SAG-AFTRA “negotiated with the companies for critical terms (members) need,” the union said Friday in a news release. Eligible SAG-AFTRA members will be able to vote on authorizing a strike until September 25 at 5 p.m. PT, the evening before discussions resume. “The interactive nature of games are built upon the use of such technologies,” a source familiar with the companies’ negotiations told CNN. We’re not trying to upend the way video games are made,” the negotiator said.

Persons: AFTRA “, “, ” Fran Drescher, AFTRA, ”, Audrey Cooling, Duncan Crabtree, We’re Organizations: New, New York CNN, SAG, AFTRA’s, Interactive, Alliance, Television Producers, CNN, “, Activision, Epic Games, WB Games, WB, Warner Bros . Locations: New York

In the opening hours of the role-playing video game, it’s possible to land your spaceship on Earth’s moon or zip 16 light-years to Alpha Centauri. That sprawling celestial journey within Starfield, developed by Bethesda Game Studios, reveals both the tremendous potential and the monumental challenge of an open-world space adventure. Bethesda has hyped an expansive single-player campaign with 1,000 explorable planets. And expectations around the game, officially releasing on Sept. 6 after a 10-month delay, are nearly as vast. To compete, Microsoft went on a spending spree, acquiring Bethesda’s parent company in 2020 and agreeing to purchase Activision Blizzard in 2022, a $69 billion bet that is being challenged by regulators.

Persons: Starfield, It’s Organizations: Alpha Centauri, Bethesda Game Studios, Bethesda, Microsoft, Sony, Nintendo, Activision Blizzard Locations: Starfield

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