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Search resuls for: "US Federal Trade"


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☆ Meta agrees to pay $725 million to settle lawsuit over Cambridge Analytica data leak
  + stars: | 2022-12-23 | by ( Clare Duffy | ) edition.cnn.com   time to read: +3 min
New York CNN —Facebook parent company Meta has agreed to pay $725 million to settle a longstanding class action lawsuit accusing it of allowing Cambridge Analytica and other third parties to access private user information and misleading users about its privacy practices. The proposed settlement would end the legal battle that began four years ago, shortly after the company disclosed that the private information of as many as 87 million Facebook users was obtained by Cambridge Analytica, a data analytics firm that worked with the Trump campaign. The data leak sparked an intense international scandal for Facebook, drawing the scrutiny of regulators on both sides of the Atlantic. They estimated that between 250 and 280 million people may be eligible for payments as part of the class action settlement. But the improper sharing of Facebook data triggered a cascade of events that has culminated in investigations and lawsuits.
☆ Microsoft tells judges its $69 billion Activision deal would benefit gamers
  + stars: | 2022-12-22 | by ( ) edition.cnn.com   time to read: +2 min
Microsoft Corp said on Thursday its $69 billion bid to buy “Call of Duty” maker Activision Blizzard would benefit gamers and gaming companies alike. “The acquisition of a single game by the third-place console manufacturer cannot upend a highly competitive industry. That is particularly so when the manufacturer has made clear it will not withhold the game,” Microsoft said in Thursday’s filing. The US Department of Justice recently stopped a $2.2 billion merger of Penguin Random House, the world’s largest book publisher, and smaller US rival Simon & Schuster. The Microsoft deal is also facing scrutiny outside the United States, with the European Union saying it would decide by March 23, 2023, whether to clear or block the deal.
☆ Video gamers sue Microsoft in US court to stop Activision takeover
  + stars: | 2022-12-21 | by ( ) edition.cnn.com   time to read: +2 min
Reuters —Microsoft Corp was hit on Tuesday in US court with a private consumer lawsuit claiming the technology company’s $69 billion bid to purchase “Call of Duty” maker Activision Blizzard Inc will unlawfully squelch competition in the video game industry. The private lawsuit also seeks an order blocking Microsoft from acquiring Activision. It was filed on behalf of 10 video game players in California, New Mexico and New Jersey. The proposed acquisition would give Microsoft “far-outsized market power in the video game industry,” the complaint alleged, “with the ability to foreclose rivals, limit output, reduce consumer choice, raise prices, and further inhibit competition.”A representative for Microsoft did not immediately comment on Tuesday. The FTC previously said it sued to stop “Microsoft from gaining control over a leading independent game studio.” The agency said the merger would harm competition among rival gaming platforms from Nintendo Co Ltd and Sony Group Corp.
☆ Blizzard tells China’s ‘World of Warcraft’ fans to back up data as it seeks new partner
  + stars: | 2022-12-14 | by ( Michelle Toh | ) edition.cnn.com   time to read: +2 min
Hong Kong CNN —“World of Warcraft” fans in China will have to back up their playing history as the distributor of the hit game winds down its agreement with Blizzard Entertainment. Blizzard, a unit of Activision Blizzard (ATVI), and its longtime Chinese partner, gaming giant NetEase (NTES), said last month they would not renew licensing agreements that are set to expire in January. Those deals had covered the publication of several popular Blizzard titles in mainland China, including “World of Warcraft,” “Hearthstone,” and “Diablo III,” since 2008. NetEase told fans last month that their “World of Warcraft” data would be “sealed” after servers for the game are shut down in January. Collaboration on “Diablo Immortal” is under a separate agreement that will continue, NetEase said in a November statement.
☆ 2023 is shaping up to be a big year for dealmaking in live sports. Here's why.
  + stars: | 2022-12-09 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +6 min
Big deals for the big (and little) screen. Next year is shaping up to be a big one for media deals. Like many other industries, media quickly turned quiet on the dealmaking front this year as the economy soured. However, a stabilization of interest rates, along with money burning a hole in investors' pockets, could lead to a big 2023, insiders say. The landscape for media deals is fascinating when you consider the two opposing forces, as Lucia pointed out to me.
☆ Microsoft says it has reached a 10-year deal to bring ‘Call of Duty’ to Nintendo
  + stars: | 2022-12-07 | by ( Samantha Murphy Kelly | ) edition.cnn.com   time to read: +3 min
Microsoft said late Tuesday it has reached a 10-year deal to bring the 19-year-old game franchise to Nintendo after its acquisition of Activision Blizzard, which makes the game, is completed. The Nintendo deal is the latest attempt by Microsoft to ease concerns that its blockbuster acquisition of the gaming giant could harm competition in the industry. Microsoft head of gaming Phil Spencer announced the commitment with Nintendo in a tweet and said it will continue to offer “Call of Duty” on gaming platform Steam if the deal is completed. The company’s decision to bring “Call of Duty” to Nintendo comes as Microsoft’s Activision deal faces regulatory scrutiny on both sides of the Atlantic. “Nintendo is not a high priority for ‘Call of Duty,’ all things considered – it has done perfectly fine without being on Nintendo recently,” Abbruzzese added.
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