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☆ Activision Blizzard to pay $35mln to settle workplace charges, U.S. SEC says
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Feb 3 (Reuters) - Activision Blizzard has agreed to pay $35 million to settle allegations over its handling of workplace complaints and violations of whistleblower protection rules, U.S. financial regulators said on Friday. "Activision Blizzard failed to implement necessary controls to collect and review employee complaints about workplace misconduct, which left it without the means to determine whether larger issues existed that needed to be disclosed to investors,” said Jason Burt, who heads the Securities and Exchange Commission's Denver office, said in a statement. Reporting by Susan Heavey; Editing by Doina ChiacuOur Standards: The Thomson Reuters Trust Principles.

☆ Activision Blizzard settles SEC charges for $35 million
▼ + stars: | 2023-02-03 | by ( Brian Fung | ) edition.cnn.com time to read: 1 min

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☆ EA Shows Why Mobile Games Are a Minefield
▼ + stars: | 2023-02-01 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

When one of the biggest videogame makers in the business gets hung up in the mobile end of the market, it can say something for the whole industry. With annual revenue now over $7 billion, Electronic Arts is the largest stand-alone game publisher in the U.S. save for Activision Blizzard . EA also has a few games capable of generating more than $1 billion a year on their own, including “Apex Legends.” The battle-royale style shooter was EA’s answer to the blockbuster “Fortnite” and has been a resounding success since its surprise launch in 2019 for consoles and PCs. Analysts estimate the game’s total revenue has surpassed that of “Madden NFL” to become EA’s second-biggest property next to the blockbuster soccer franchise “FIFA,” according to Visible Alpha.

☆ Sony's gaming chief met EU's Vestager on Microsoft's Activision deal -source
▼ + stars: | 2023-01-26 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, Jan 26 (Reuters) - Sony's gaming chief Jim Ryan met EU antitrust chief Margrethe Vestager on Wednesday to discuss Microsoft's (MSFT.O) $69 billion bid for "Call of Duty" maker Activision Blizzard (ATVI.O), a person familiar with the matter said on Thursday. Microsoft is looking to Activision to help it compete better with leaders Tencent (0700.HK) and Sony (6758.T). The person declined to provide details of the discussion between Ryan and Vestager. The European Commission, which is scheduled to rule on the deal by April 11, did not immediately respond to a request for comment. The U.S. Federal Trade Commission has sued to block the deal while UK regulators have also expressed concerns.

☆ Former White House CTO breaks down DOJ's targeting of Google
▼ + stars: | 2023-01-25 | 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 EmailFormer White House CTO breaks down DOJ's targeting of GoogleAneesh Chopra, first U.S. chief technology officer in the Obama administration, joins CNBC's 'Squawk Box' to discuss Google's ad dominance, the proposed merger between Microsoft and Activision Blizzard, and more.

☆ DOJ files second antitrust suit against Google, seeks to break up its ad business
▼ + stars: | 2023-01-24 | by ( Lauren Feiner | ) www.nbcnews.com time to read: +4 min

The U.S. Justice Department on Tuesday filed its second antitrust lawsuit against Google in just over two years. This lawsuit, focused on Google’s online advertising business, seeks to make Google divest parts of the business and is the first against the company filed under the Biden administration. Google also faces three other antitrust lawsuits from large groups of state attorneys general, including one focused on its advertising business led by Texas Attorney General Ken Paxton. The company has long denied that it dominates the online advertising market, pointing to the market share of competitors including Meta’s Facebook. Google and other tech companies have also faced increasing scrutiny from abroad, particularly in Europe, where Google has also fought multiple competition cases and new regulations threaten major changes to tech business models.

☆ Blizzard China: Millions of players lose access to 'World of Warcraft' and other games as it goes dark
▼ + stars: | 2023-01-24 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Millions of players in China have lost access to the iconic “World of Warcraft” franchise and other popular video games, as Blizzard Entertainment’s servers in the country went offline after two decades. That was underscored in recent days, as Chinese fans expressed their disbelief over the loss of their longtime pastime in social media posts. Those deals had covered the publication of several popular Blizzard titles in mainland China, including “World of Warcraft,” “Hearthstone,” and “Diablo III,” since 2008. In a LinkedIn post Monday, Simon Zhu, president of global investments and partnerships of NetEase Games, detailed how he grew up with Blizzard games in China, including older “Warcraft” and “Diablo” titles. “Only [a] few hours before Blizzard Games servers shut down in China, and that is a very very big deal for players in China,” he wrote.

☆ Playtika offers to buy 'Angry Birds' maker Rovio for 683 mln euros
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +1 min

Jan 19 (Reuters) - Israeli gaming firm Playtika Holding Corp (8II.F) said on Thursday it offered to buy Finnish game maker Rovio (ROVIO.HE), best known for its "Angry Birds" franchise, for 683 million euros ($737.50 million) in a sweetened all-cash deal. The offer price of 9.08 euros per share represents a premium of about 60% to Rovio's close of trading on Jan. 19. Rovio did not immediately respond to a request for comment. Playtika's offer is roughly 40 million euros more than its previous offer in November. The latest offer comes as the gaming industry is going through a round of consolidation.

☆ Jim Cramer says it’s too soon to buy video game stocks like Activision and Take-Two
▼ + stars: | 2023-01-19 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Thursday warned investors not to pick up beaten-up shares of video game companies like Activision Blizzard and Take-Two Interactive Software just yet. Some of the other names to keep an eye on include Sony, AMD , Microsoft and Nvidia , according to Cramer. Video game companies saw their stocks skyrocket during the height of the Covid pandemic, as consumers hunkered down and turned to at-home entertainment. Nevertheless, the headwinds facing the video game industry will likely abate, though it's unclear when, Cramer said. "While the video game industry came out of 2022 looking like one of the biggest losers … I think it could just turn out to be a temporary problem, not a permanent one.

☆ 'World of Warcraft' battle heats up as NetEase rejects Blizzard offer
▼ + stars: | 2023-01-18 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

Blizzard said in November it would end its 14-year partnership with NetEase - sending shockwaves across the industry as the partnership was widely seen as one of the most lucrative in video games. NetEase said Blizzard reached out last week with an offer to extend the partnership for six months but also made it clear that it would not stop negotiating with other potential partners. With the demise of their partnership, Blizzard is currently without a Chinese publisher. Unlike other countries, foreign gaming companies typically need a Chinese publisher before they can release games in China. NetEase rose to become a gaming giant partly by publishing Blizzard's games in China.

☆ NetEase Rejects Activision Offer to Extend China Licensing Partnership
▼ + stars: | 2023-01-18 | by ( Raffaele Huang | ) www.wsj.com time to read: 1 min

SINGAPORE—Chinese videogame publisher NetEase Inc. has refused Activision Blizzard Inc.’s offer to extend a licensing partnership, the two companies said, deepening a rift between the firms over operations in the world’s biggest mobile game market. Blizzard Entertainment Inc., an Activision Blizzard subsidiary, said Tuesday that it proposed to NetEase a six-month extension to the partnership that is set to expire next week. The licensing partnership has brought Blizzard’s globally popular videogames such as “World of Warcraft,” “Diablo III” and “Overwatch” to the Chinese market through NetEase.

☆ NetEase dismisses Activision proposal for temporary extension of ties
▼ + stars: | 2023-01-18 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

HONG KONG, Jan 18 (Reuters) - Chinese games publisher NetEase Inc (9999.HK) said on Wednesday it has rejected a proposal from Activision Blizzard Inc (ATVI.O) to extend their long-time partnership for six months as the U.S. game developer looks for a new partner. It called the proposal "rude and unreasonable, inappropriate and commercially illogical" and accused Blizzard of seeking to "take a free ride". With the demise of their partnership, Blizzard is currently without a Chinese publisher. Unlike other countries, foreign gaming companies typically need a Chinese publisher before they can release games in China. It has since accelerated its own game development capability, with in-house games now accounting for more than 60% of revenue.

☆ Nilay Patel on Microsoft: Satya Nadella is telling you there's a platform shift coming
▼ + stars: | 2023-01-18 | 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 EmailNilay Patel on Microsoft: Satya Nadella is telling you there's a platform shift comingNilay Patel, The Verge editor-in-chief and CNBC contributor, joins 'TechCheck' to discuss Microsoft's deal for Activision Blizzard and the company's plan to cut 10,000 jobs.

☆ This MSFT-ATVI deal is an effort by the FTC to reset merger policy, says fmr. commissioner
▼ + stars: | 2023-01-18 | 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 EmailThis MSFT-ATVI deal is an effort by the FTC to reset merger policy, says fmr. commissionerWilliam Kovacic, former FTC Commissioner, joins 'The Exchange' to discuss the labor union and political support behind Microsoft, the FTC's case around Microsoft and Activision and the antitrust impact of the acquisition.

☆ I left Manhattan for LA. It's easier to make friends, my cost of living is lower, and I'm so much happier here.
▼ + stars: | 2023-01-18 | by ( Daniel Zahler | ) www.businessinsider.com time to read: +14 min

I got the full New York City experienceI lived in Manhattan for 12 years. In 2015, I decided to sublet my West Village pad and spend the winter in Santa Monica. Santa Monica is one of the priciest areas of California, but it's still cheaper than Manhattan. Today I'm paying $3,000 a month for a spacious apartment in the heart of Santa Monica with amazing views of mountains and palm trees. New York City is unrivaled in its energy and diversity and is the major league of cities — truly world-class.

☆ Microsoft's major layoffs prove that no tech giant is safe from the market downturn
▼ + stars: | 2023-01-18 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +4 min

Microsoft is the latest tech giant to have major layoffs, with plans to cut 10,000 employees. It's a strategy that will help these tech giants weather the ongoing downturn and come out on top, he added. Microsoft's layoffs also bring attention to the fact that the only tech giants that have avoided significant layoffs this cycle are Google and Apple. In another note to clients, RBC analysts advised C-suite leaders to bring down their quarterly and yearly revenue estimates even more. Got a tip about tech layoffs?

☆ Activision Says NetEase Rejected Offer to Extend China Licensing Partnership
▼ + stars: | 2023-01-17 | by ( Raffaele Huang | ) www.wsj.com time to read: 1 min

NetEase recently launched a new version for its multiplayer role-playing game ‘Justice,’ with features that NetEase said are similar to Blizzard’s ‘World of Warcraft.’SINGAPORE— Activision Blizzard Inc. said NetEase Inc., its longtime partner in China, has refused its offer to extend a licensing partnership and that it is in talks with several videogame firms to find a new partner in the country. Blizzard Entertainment Inc., an Activision subsidiary, said Tuesday that it proposed to NetEase a six-month extension to the partnership that is set to expire next week. The licensing partnership has brought Blizzard’s globally popular videogames such as “World of Warcraft,” “Diablo III” and “Overwatch” to the Chinese market through NetEase.

☆ Blizzard says China's NetEase rejects proposal to extend partnership for six months
▼ + stars: | 2023-01-17 | by ( Josh Ye | ) www.reuters.com time to read: 1 min

HONG KONG, Jan 17 (Reuters) - Activision Blizzard (ATVI.O), the U.S. video game giant behind hit franchise Warcraft, said on Tuesday that its Chinese publisher NetEase (9999.HK) had turned down a proposal to extend their partnership for six months. In a statement released on Chinese microblogging site Weibo, the company's subsidiary Blizzard China said it had contacted NetEase last week with a proposal to extend their partnership for six months which the Hangzhou-based company had rejected. Blizzard China added that its game services will be discontinued on Jan. 23 in accordance with NetEase' announcement. Reporting by Josh Ye; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ This Goldman portfolio of stocks with strong profitability beat the market last year. Here's what's in it
▼ + stars: | 2023-01-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Few stocks — or industries — outperformed the market against 2022's tough macroeconomic backdrop, but one portfolio from Goldman Sachs crushed it and may have further room to shine in 2023. The basket includes 50 stocks with the highest consensus-expected ROE growth over the next 12 months. After a rebalance, here are some of the stocks included: Microsoft takeover target Activision Blizzard was among the newest additions to Goldman Sachs' basket. Shares gained more than 15% in 2022 even as technology stocks took a hit, with ROE is expected to grow by 11%. San Francisco-based Wells Fargo and consumer discretionary stocks Target and Chipotle Mexican Grill were also included in the Goldman basket.

☆ Microsoft faces EU antitrust warning over Activision deal - sources
▼ + stars: | 2023-01-16 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, Jan 16 (Reuters) - Microsoft (MSFT.O) is likely to receive an EU antitrust warning about its $69 billion bid for "Call of Duty" maker Activision Blizzard (ATVI.O), people familiar with the matter said, that could pose another challenge to completing the deal. The European Commission is readying a charge sheet known as a statement of objections setting out its concerns about the deal which will be sent to Microsoft in the coming weeks, the people said. The EU antitrust watchdog, which has set an April 11 deadline for its decision on the deal, declined to comment. U.S. and UK regulators, however, have voiced concerns, with the U.S. Federal Trade Commission going to court to block the deal. Microsoft was expected to offer remedies to EU regulators in an attempt to avert a statement of charge and shorten the regulatory process, other sources familiar with the matter told Reuters in November.

☆ Gaming’s winter of discontent bolsters M&A logic
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 12 (Reuters Breakingviews) - The holiday quarter is traditionally a bumper one for gaming groups, as punters stay home to play. As consumers and companies focus on “mega-brands”, smaller firms will struggle to attract staff, and match investment. Sony, for example, will need to bulk up in response to Microsoft’s (MSFT.O) $69 billion swoop on Activision Blizzard (ATVI.O). However, in a tougher environment, Guillemot will need to find some way to keep his hand on the joystick. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Assassin's Creed maker Ubisoft sinks to more than seven-year low after slashing guidance, cancelling games
▼ + stars: | 2023-01-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

The stock has since pared losses slightly and was last trading at around 20 euros, down 16% from the Wednesday close. In a trading update on Wednesday, Ubisoft lowered net bookings guidance for the third quarter of 2022 to 725 million euros, down from an earlier target of 830 million euros. The company forecast full-year net bookings would likely fall 10% after an earlier projection called for an increase of 10%. Ubisoft said Wednesday that it would depreciate around 500 million euros of capitalized research and development and narrow its focus to fewer titles. The company hopes to cut costs by about 200 million euros through a mix of targeted restructuring, divestment of "non-core" assets, and employee attrition.

☆ Microsoft looked at buying Figma but declined to put in an offer as Adobe deal was nearing
▼ + stars: | 2023-01-11 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

Dylan Field, co-founder and CEO of Figma, speaks at the startup's Config conference in San Francisco on May 10, 2022. As Figma was in talks about an acquisition with Adobe last year, the design software startup's CEO, Dylan Field, approached another public company to gauge potential interest, according to a regulatory filing. That company was Microsoft , CNBC confirmed with a person familiar with the matter. Adobe ultimately agreed to buy Figma in September for $20 billion, the software company's biggest purchase ever. Prior to the Adobe deal, CNBC reported on Figma's growing popularity inside Microsoft.

☆ 6 top M&A bankers lay out their dealmaking playbook for 2023 — from getting around a sagging bond market to dealing with skeptical shareholders
▼ + stars: | 2023-01-09 | by ( Carter Johnson | ) www.businessinsider.com time to read: +10 min

"We're certainly telling clients to plan for longer timelines between signing an announcement and when a transaction closes," RBC's Sperduto said. Bankers noted the figure was on pace with the average amount of deals done in the five years preceding the pandemic. "There is still significant desire from both corporates and financial sponsors to transact," Gary Posternack, co-head of global M&A at Barclays, told Insider. But in 2023, bankers see more transactions receiving greater scrutiny from stakeholders. Vito Sperduto, the co-head of global M&A at RBC Capital Markets.

☆ M&A Is Expected to Pick Up in 2023 as Companies Adapt to Tougher Conditions
▼ + stars: | 2023-01-06 | by ( Kristin Broughton | ) www.wsj.com time to read: +8 min

But many companies adapted, structuring deals to sidestep market volatility and minimize financing costs. Deal advisers expect M&A to pick up in 2023 following last year’s slump, though when that will happen remains an open question. That is especially true in the technology and healthcare sectors, where deals for high-growth companies are most common, she said. In addition to macroeconomic pressures, companies faced a tougher regulatory environment in 2022, with antitrust enforcers globally applying greater scrutiny to large transactions. Demand for such facilities in the U.S. jumped 17% in 2022 through Dec. 29 compared with the full-year 2021, to $317.3 billion, according to Dealogic.

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