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A federal judge on Tuesday ruled against the Federal Trade Commission’s attempt to delay Microsoft’s $70 billion acquisition of Activision Blizzard, setting the stage for the tech giant and the video game publisher to merge as soon as this month. In a 53-page decision, Judge Jacqueline Scott Corley of U.S. District Court for the Northern District of California said the F.T.C. had failed to show it was likely to prove that the merger was likely to result in a substantial reduction in competition that would harm consumers. The ruling is a significant blow to the F.T.C.’s efforts to police blockbuster tech mergers more aggressively. has sued Microsoft, Meta and Amazon, but it walked away from one of its cases against Meta and has had little to show for its efforts so far.

Persons: Jacqueline Scott Corley, Lina Khan Organizations: Federal Trade, Activision Blizzard, U.S, Northern, Microsoft, Meta Locations: Northern District, California

☆ 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-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

☆ 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

The deal had been announced in January 2022 and the FTC sued to stop it in December last year. Judge Jacqueline Scott Corley in San Francisco pressed FTC lawyers on where their economist got the data to show the deal would harm consumers. The FTC has said that if Microsoft bought Activision, Microsoft would have the incentive and the ability to harm competition in markets related to consoles, subscription game services and cloud gaming. "The harm here is we think is substantial in locking up Activision content," said FTC lawyer James Weingarten. To address the FTC concerns, Microsoft has agreed to license "Call of Duty" to rivals.

Persons: Microsoft Corporation Satya Nadella, Read, Microsoft's, Jacqueline Scott Corley, James Weingarten, Corley, Microsoft's Beth Wilkinson, it's, Satya Nadella, Nadella, Biden, Diane Bartz, Lincoln Organizations: Microsoft Corporation, . Federal Trade Commission, Microsoft, Activision Blizzard, U.S . Federal Trade, Activision, Federal Trade Commission, Nintendo, Sony Group, FTC, PlayStation, Thomson Locations: California, Downtown San Francisco , California, U.S, WASHINGTON, San Francisco, British, Canada

"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

☆ 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

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 attempts to pick apart US legal argument against deal to buy Activision
▼ + stars: | 2023-06-27 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +2 min

The U.S. Federal Trade Commission has asked a federal judge to stop the transaction temporarily in order to allow the agency's in-house judge to decide if it can go forward. If the deal goes through, Microsoft has pledged to provide the game to Switch for 10 years. Microsoft attorney Beth Wilkinson pressed Lee in an effort to poke holes in his analysis of the deal, pointing out limitations of his economic modeling. Judge Jacqueline Scott Corley, a federal judge in San Francisco who will decide the case, said little on Tuesday. Reporting by Greg Bensinger in San Francisco Additional reporting by Diane Bartz in Washington Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Microsoft's, Robin Lee, Lee, Beth Wilkinson, Wilkinson, “, Jacqueline Scott Corley, Greg Bensinger, Diane Bartz, Matthew Lewis Organizations: FRANCISCO, Activision, Harvard, U.S . Federal Trade Commission, Microsoft, Xbox, FTC, Nintendo, Sony Group, Britain's, Markets Authority, Thomson Locations: Redmond, Washington, San Francisco, United States

☆ 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

The private plaintiffs sued Microsoft in California federal court in December to enjoin the deal, which they called harmful to competition. Corley pushed back on the gamers' allegation that Microsoft would limit availability of the game. A lawyer for the gamers said on Monday they will press on with their challenge to the deal despite losing this preliminary round. Corley dismissed the gamers' first lawsuit in March, ruling that plaintiffs had not offered adequate factual support for claims that the deal would violate U.S. antitrust law. The case is DeMartini v. Microsoft Corp, U.S. District Court, Northern District of California, No.

U.S. District Judge Jacqueline Scott Corley dismissed the plaintiffs' first complaint in March after finding it failed to present enough information to back claims the acquisition would harm industry competition. The judge said at the time the plaintiffs could refile a new suit, which challenges the largest-ever video game industry deal. Lawyers for Microsoft said in a court filing last week that the gamers' original case "relied largely on flawed legal arguments based on outdated Supreme Court cases." The plaintiffs' lawyers have served subpoenas on companies including Activision and rivals including Nintendo of America Inc and Sony. The case is Demartini v. Microsoft, U.S. District Court, Northern District of California, 3:22-cv-08991-JSC.

☆ Boies, co-counsel move to grab control of all private FTX cases
▼ + stars: | 2023-02-13 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

Judicial Panel on Multidistrict Litigation, that the judge overseeing their Miami cases, U.S. District Judge Michael Moore, has already proven in their brand ambassador cases that he can steer FTX cases quickly and efficiently. Not everyone pursuing claims on behalf of FTX customers agrees with Boies and Moskowitz. (To be clear, these private cases are different from cases that could be brought by a court-appointed receiver or trustee in FTX’s Chapter 11 bankruptcy.) If the cases go to California, the California slate is a likelier candidate. It will be a few months before any ruling on the Boies and Moskowitz consolidation petition.

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