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After a big loss last week in district court, the agency's remaining options are: pursue its fight in the internal FTC court; pursue its parallel case before the appeals court; pursue both; or settle with Microsoft or drop the matter entirely. The source, who is familiar with the matter, declined to give any other details. U.S. regulators, however, have said it could harm consumers by possibly limiting the reach of Activision's games. The tech giant is separately still trying to get the deal approved separately in Britain. Reporting by Diane Bartz; editing by Susan HeaveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Diane Bartz, Susan Heavey Organizations: U.S . Federal Trade Commission, Activision, Reuters, Microsoft, Thomson Locations: California, Britain

☆ CNBC Daily Open: For banks, big profits don’t mean market gains
▼ + stars: | 2023-07-17 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The benchmark Stoxx 600 index retreated 0.11%, dragged down by telecom stocks after downbeat news from Nokia and Ericsson. Biggest bank gets biggerJPMorgan Chase's second-quarter net income surged 67% to $14.5 billion, or $4.75 per share. All figures beat Wall Street's estimates — and the bank's own, causing it to raise its expectations for the full year's net interest income.

Persons: Wall, Elon Musk, Sony's, Tanaya Macheel Organizations: JPMorgan Chase & Co, Headquarters, CNBC, Dow Jones, Nokia, Ericsson, Biggest, JPMorgan, First, Revenue, BBC, Activision, Activision Blizzard, U.S, Appeals, Federal, Microsoft, Activision's, PlayStation, of Locations: New York, First Republic, Southern, of New York

☆ CNBC Daily Open: For banks, big profits don’t mean stock gains
▼ + stars: | 2023-07-17 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Chinese economy slowsChina's second-quarter gross domestic product grew 6.3% from a year ago, falling short of the 7.3% increase analysts had expected. When tabulated month over month, GDP grew only 0.8%, much slower than the 2.2% increase in the first quarter. [PRO] Retail therapyChina's economy may be slowing, but the country's "premium" spenders are still splashing out on goods, according to Bernstein.

Persons: Elon Musk, Sony's, Bernstein Organizations: CNBC, Dow Jones, BBC, Activision, Activision Blizzard, U.S, Appeals, Federal, Microsoft, Activision's, PlayStation Locations: Asia, Pacific, Shanghai

It is an unexpected truce between Sony, which makes Playstation consoles, and its far larger U.S. rival. Details have yet to be disclosed, and it's not clear why Sony, which Microsoft earlier offered a 10-year contract, has had a change of heart. Sony's video-game division reported digital software and content sales of $11 billion in the fiscal year to March. Yoshida has been selectively snapping up smaller gaming studios to beef up Playstation content, including splashing out $3.6 billion for developer Bungie. Details were not disclosed, but a Microsoft spokesperson clarified with various media that the deal is for 10 years.

Persons: it's, Boss Kenchiro Yoshida, Yoshida, Phil Spencer, Una Galani, Thomas Shum Organizations: Reuters, Activision Blizzard, Sony, Activision, Microsoft, Nintendo, Nvidia, U.S, UK Competition, Markets Authority, Bungie, Nikkei, Federal Trade, Thomson Locations: HONG KONG, U.S

Game enthusiasts and industry personnel walk between the Microsoft Xbox and Sony PlayStation exhibits at the E3 trade show on June 16, 2015 in Los Angeles, California. Sony has signed a binding agreement with Microsoft to keep Call of Duty on its PlayStation gaming consoles after closing the Activision Blizzard acquisition, Microsoft said on Sunday. "We are pleased to announce that Microsoft and PlayStation have signed a binding agreement to keep Call of Duty on PlayStation following the acquisition of Activision Blizzard," Microsoft Gaming CEO Phil Spencer said on Twitter Sunday. Regulators around the world had expressed significant concern about Microsoft's power over the gaming market if an Activision acquisition was approved. The deal does something to ameliorate those concerns, although Microsoft and Sony aren't disclosing the duration of the agreement.

Persons: Activision Blizzard, Phil Spencer, Jim Ryan, Ryan, Brad Smith, divestitures Organizations: Microsoft Xbox, Sony PlayStation, Sony, Microsoft, PlayStation, Activision Blizzard, Activision, Twitter, Regulators, Sony's PlayStation, Federal Trade Commission, FTC, EU, Markets Authority Locations: Los Angeles , California, San Francisco federal

☆ 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

☆ FTC would face tough appeal of Microsoft-Activision order -experts
▼ + stars: | 2023-07-11 | by ( Mike Scarcella | ) www.reuters.com time to read: +3 min

She gave the FTC until Friday to seek an order in the San Francisco-based 9th U.S. The FTC had no immediate comment on whether it would appeal and what arguments it might make before a three-judge panel. "The FTC may have difficulty on appeal establishing that fact - without which the case as they framed it goes away," Crane said. In her 53-page order, Corley said it was not enough for the FTC to argue that "a merger might lessen competition - the FTC must show the merger will probably substantially lessen competition." A trial before an administrative law judge at the FTC begins on Aug. 2.

Persons: Jacqueline Scott Corley, Corley, Daniel Crane, Crane, Luke Hasskamp, Robert Lande, Joseph Alioto, Alioto, Mike Scarcella, Matthew Lewis Organizations: U.S . Federal Trade Commission, Microsoft, Activision, Circuit, Appeals, FTC, University of Michigan Law School, University of Baltimore, Thomson Locations: U.S, San Francisco, Washington

☆ Canada says Microsoft deal to buy Activision likely to lessen competition
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, June 29 (Reuters) - Canada's Department of Justice has concluded that Microsoft's (MSFT.O) deal to buy "Call of Duty" maker Activision Blizzard (ATVI.O) "is likely to" lead to less competition in some aspects of gaming, according to a court filing on Thursday. Microsoft has pressed for a decision in the court fight before the July 18 termination date for the deal. "We received notice from the Canada Competition Bureau that it would continue to monitor our acquisition of Activision Blizzard after the formal waiting period preventing the deal to close expired," a Microsoft spokesperson said. Microsoft's bid to acquire the "Call of Duty" videogame maker also faces opposition from British competition authorities. Microsoft's appeal to Britain's Competition Appeal Tribunal is scheduled for July 28.

Persons: Microsoft's, Diane Bartz, Matthew Lewis Organizations: Canada's Department of Justice, Activision, Microsoft's, U.S . Federal Trade Commission, FTC, Microsoft, Canada Competition Bureau, Activision Blizzard, Thomson Locations: Canada, U.S, British, Washington

"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

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 CEO Nadella says he has 'no love' for exclusive deals between game companies and consoles
▼ + stars: | 2023-06-28 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Microsoft CEO Satya Nadella arrives to court in San Francisco on June 28, 2023. Microsoft CEO Satya Nadella said Wednesday that he would like to eliminate exclusive arrangements between video games and popular gaming consoles. Microsoft employs the strategy as well for its Xbox, though Nadella said his company is a "low share player in the console market." Regarding exclusive deals, Nadella said "I have no love for that world." The FTC is worried that the tie-up could allow Microsoft to withhold popular games in Activision's library from other consoles or degrade service for those games elsewhere.

Persons: Satya Nadella, Nadella, Sony hasn't, Jim Ryan, he's Organizations: Microsoft, Activision Blizzard, Federal Trade, Nintendo, Sony, FTC, Activision, Sony Interactive Entertainment, Linux Locations: San Francisco, California

☆ 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 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

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

☆ 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

☆ Some Diablo 4 players reported invalid license error messages after the video game's early access launch
▼ + stars: | 2023-06-02 | by ( Associated Press | ) www.businessinsider.com time to read: +6 min

Early access for Diablo 4 faced issues, including licensing errors for some PlayStation users. Diablo 4 marks the latest installment of Blizzard "Diablo" series, which began in 1996, and arrives more than a decade after Diablo 3 was released in May 2012. Here's what you need to know about Thursday's early access launch and the coming official release of Diablo 4. It's unclear how many early access players have been impacted by the error. According to Blizzard, Diablo 4 is set decades after the events of "Diablo 3: Reaper of Souls."

Persons: Blizzard, Rod Fergusson, Adam Fletcher, Inarius, Liam Deane, Omdia Organizations: Diablo, PlayStation, Morning, Blizzard Entertainment, Activision Blizzard, Activision, Windows, Blizzard, Xbox, Druids, Sorceresses, Microsoft, European Union, Sony, Associated Press Locations: U.S

☆ Some Diablo 4 players are reporting invalid license error messages after the video game's early access launch
▼ + stars: | 2023-06-02 | by ( Associated Press | ) www.businessinsider.com time to read: +6 min

Early access for Diablo 4 faced issues, including licensing errors for some PlayStation users. Diablo 4 marks the latest installment of Blizzard "Diablo" series, which began in 1996, and arrives more than a decade after "Diablo III" was released in May 2012. Here's what you need to know about Thursday's early access launch and the coming official release of "Diablo IV." It's unclear how many early access players have been impacted by the error. According to Blizzard, Diablo 4 is set decades after the events of "Diablo III: Reaper of Souls."

Persons: Blizzard, Rod Fergusson, Adam Fletcher, Inarius, Liam Deane, Omdia Organizations: Diablo, PlayStation, Morning, Blizzard Entertainment, Activision Blizzard, Activision, Windows, Blizzard, Xbox, Associated Press, Druids, Sorceresses, Microsoft, European Union, Sony Locations: U.S

☆ Microsoft wins EU antitrust approval for Activision deal vetoed by UK
▼ + stars: | 2023-05-15 | by ( Foo Yun Chee | ) www.reuters.com time to read: +4 min

[1/2] Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. Microsoft has in recent months signed licensing deals with Nvidia (NVDA.O), Nintendo (7974.T), Ukraine's Boosteroid and Japan's Ubitus to bring Activision games to their platforms should the deal go through. "The European Commission has required Microsoft to license popular Activision Blizzard games automatically to competing cloud gaming services. CLOUD GAMING MARKET GROWTHVestager said the Commission had a different view from UK regulators of how the game streaming market, which accounted for just 1% of the total market last year, would develop. "Microsoft and Activision’s lawyers will also use the decision to provide greater ballast to their appeal of the CMA's decision."

☆ Microsoft wins EU antitrust nod for Activision deal, after UK veto
▼ + stars: | 2023-05-15 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, May 15 (Reuters) - Microsoft has won EU antitrust approval for its $69 billion Activision takeover, which was vetoed by Britain, after regulators said its offer of free 10-year licensing deals to gamers and cloud streaming rivals addressed their concerns. The European Commission said on Monday that the biggest-ever deal in gaming was pro-competitive due to Microsoft's (MSFT.O) licensing deals, confirming a Reuters report in March. Such licenses are "practical and effective", European Union antitrust chief Margrethe Vestager told reporters. "Actually they significantly improve the condition for cloud game streaming compared to the present situation, which is why we actually consider them pro-competitive," she added. The EU watchdog said Microsoft has offered 10-year free licensing deals to European consumers and cloud game streaming services for Activision's (ATVI.O) PC and console games.

☆ EU approves Microsoft's $69 billion acquisition of Activision Blizzard, clearing major hurdle
▼ + stars: | 2023-05-15 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

European Union regulators on Monday approved Microsoft's proposed $69 billion acquisition of gaming firm Activision Blizzard , subject to remedies offered by the U.S. tech giant. These remedies centered on allowing users to stream Activision games they purchase on any cloud streaming platform. Regulators globally have been probing whether Microsoft's acquisition of Activision could distort competition in the console and cloud gaming market. One area regulators questioned is whether Microsoft might take Activision games and keep them exclusively on the U.S. giant's own platforms. Microsoft sought to allay the Commission's concerns over making Activision games exclusive ahead of the EU decision.

☆ EU decision clearing $69 billion Microsoft, Activision deal expected May 15, sources say
▼ + stars: | 2023-05-10 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

[1/2] Activision games "Call of Duty" are pictured in a store in the Manhattan borough of New York City, New York, U.S., January 18, 2022. REUTERS/Carlo AllegriBRUSSELS, May 10 (Reuters) - EU antitrust regulators are set to approve Microsoft Corp's (MSFT.O) $69 billion acquisition of Activision (ATVI.O) next week, with May 15 as the likeliest date, people familiar with the matter said. The European Commission's imminent clearance comes nearly three weeks after the UK competition authority blocked the deal, the biggest-ever deal in gaming, over concerns it would hinder competition in cloud gaming. U.S. distributor Valve Corp, owner of the world's largest video game distribution platform, Steam, declined a contract saying it trusts Microsoft. (This story has been corrected to say that Valve does not have a licensing deal with Microsoft in paragraph 4)Reporting by Foo Yun Chee; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ EU decision clearing $69 bln Microsoft, Activision deal expected May 15, sources say
▼ + stars: | 2023-05-10 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, May 10 (Reuters) - EU antitrust regulators are set to approve Microsoft Corp's (MSFT.O) $69 billion acquisition of Activision (ATVI.O) next week, with May 15 as the likeliest date, people familiar with the matter said. The European Commission's imminent clearance comes nearly three weeks after the UK competition authority blocked the deal, the biggest-ever deal in gaming, over concerns it would hinder competition in cloud gaming. The Commission, which has set a May 22 deadline for its decision, declined to comment. Japan approved the takeover in March while the U.S. Federal Trade Commission is also seeking to block it. Reporting by Foo Yun Chee; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ 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.

☆ Activision Blizzard reports quarterly bookings above estimates
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: 1 min

April 26 (Reuters) - Videogame publisher Activision Blizzard (ATVI.O) on Wednesday reported first-quarter bookings of $1.86 billion, compared with analysts' average estimate of $1.79 billion, according to Refinitiv. Earlier in the day, Britain said it would block Microsoft's $69 billion acquisition of the "Call of Duty" maker over its concerns it would hinder competition in cloud gaming, dealing an unexpected blow to the biggest-ever deal in gaming. Microsoft has announced its decision to appeal the CMA’s ruling, and Activision Blizzard intends to fully support Microsoft's efforts on this appeal, the videogame publisher said. Activision's shares fell about 10% in early trading. Reporting by Akash Sriram in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

☆ 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.

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