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☆ Buffett cut Activision stake before judge approved Microsoft merger
▼ + stars: | 2023-07-17 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

In a regulatory filing on Monday, Berkshire said it owned about 14.7 million Activision shares, or 1.9%, worth $1.24 billion on June 30, down from 49.4 million shares, or 6.3%, on March 31. The filing did not discuss the prices of any sales, or whether Berkshire bought or sold Activision stock in July. One of Berkshire's portfolio managers invested in Activision in late 2021, with Buffett boosting the stake to nearly 10% in 2022. Berkshire's remaining Activision stake - 14,658,121 shares - is exactly the size it was before Buffett started buying, suggesting that he has exited the arbitrage bet. Activision shares rose 10% to $90.99 on July 11 after U.S. District Judge Jacqueline Scott Corley in San Francisco rejected U.S. Federal Trade Commission arguments that the merger would hurt competition in cloud gaming, consoles and subscription services.

Persons: Warren Buffett's Berkshire Hathaway, Buffett, Jacqueline Scott Corley, Jonathan Stempel, Matthew Lewis Organizations: Activision Blizzard, Microsoft, Activision, Berkshire, Buffett, U.S, Federal, Commission, Markets Authority, BNSF, Apple, Bank of America, Thomson Locations: Berkshire, San Francisco, Omaha , Nebraska, New York

WASHINGTON, July 17 (Reuters) - A group of individual plaintiffs on Monday asked the U.S. Supreme Court to temporarily halt Microsoft's (MSFT.O) $69 billion acquisition of Activision Blizzard (ATVI.O), the largest in the history of the videogame industry. The bid by the plaintiffs was separate from a request by the U.S. Federal Trade Commission to pause Microsoft's purchase of Activision, maker of the "Call of Duty" videogame franchise. Circuit Court of Appeals last week rejected the FTC's request, removing one of the few remaining hurdles stopping Xbox maker Microsoft from closing the deal and expanding its gaming business. Separately on Monday, Microsoft's appeal against Britain's block on its takeover of Activision Blizzard was formally paused by a London tribunal to give the parties more time to resolve the dispute. Reporting by John Kruzel; Editing by Will DunhamOur Standards: The Thomson Reuters Trust Principles.

Persons: John Kruzel, Will Dunham Organizations: Monday, U.S, Supreme, Activision Blizzard, U.S . Federal Trade Commission, Activision, San, Circuit, Microsoft, FTC, Reuters, Thomson Locations: San Francisco, London

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

☆ Stocks making the biggest premarket moves: Activision Blizzard, Chewy, Yelp, Tesla and more
▼ + stars: | 2023-07-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Chewy — Shares jumped more than 5% after Goldman Sachs upgraded them to buy from neutral. Paramount Global — Shares of the entertainment company fell 2.8% in premarket trading after the latest installment in the "Mission: Impossible" franchise underperformed expectations at the box office. State Street — The financial giant slipped about 2% in premarket trading. The stock was downgraded by JPMorgan to underweight from neutral following State Street's earnings release Friday. Figs — Shares of the apparel company fell 4.6% in premarket trading after Raymond James downgraded Figs to market perform from outperform.

Persons: Goldman Sachs, Morgan Stanley, Yelp, Goldman, Tesla, Raymond James, —, Jesse Pound, Hakyung Kim, Michael Bloom Organizations: Activision, Warfare, Microsoft, Sony, PlayStation, Activision Blizzard, PepsiCo, Paramount, Variety, Citi, JPMorgan, State Street'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

☆ Wingstop says its UK target market is Gen Zers who like boxing and 'Love Island.' Here's how the chicken brand is using TikTok, rappers, and customization to pull in younger diners.
▼ + stars: | 2023-07-16 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

Wingstop UK is using TikTok, social-media influencers, and rappers to attract Gen Z diners. Wingstop UK has collaborated with brands including including Xbox, Gymshark, and Tinder. Grogan said that Wingstop UK did engage in some paid partnerships, but focused on "curating authentic experiences." Lemon Pepper opened the first Wingstop UK restaurant near London's bustling Leicester Square in 2018. Lemon Pepper HoldingsIn 2022, the chain sold more than 17.5 million wings, Lemon Pepper says.

Persons: It's, –, Zers, Tom Grogan, cofounders, Lemon Pepper, TikTok, Yung, Michael Dapaah, Lady Leisha, M, Cat Burns, Grogan, Wingstop, – Grogan, Herman Sahota, Saul Lewin –, Rick Ross, Saul Lewin, Lemon, We're, Gen, it's Organizations: Wingstop, Service, Wingstop's, Sports, Lemon Pepper Holdings, Xbox, JD Sports, Yung Filly, YouTube, KFC, Leicester Square, Hickory, Wings, Lemon Pepper, Sunday Times Locations: Wall, Silicon, Covent, Leicester, Manchester, Liverpool, Glasgow

☆ Call of Duty to remain on Playstation following Activision Blizzard Microsoft merger
▼ + stars: | 2023-07-16 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

CNN —Microsoft (MSFT) has signed an agreement with Sony (SNE) to ensure “Call of Duty” remains available on PlayStation after Microsoft (MSFT) closes its $69 billion Activision Blizzard (ATVI) merger, the tech giant said Sunday. The agreement could resolve long-standing complaints by Sony that the merger — which aims to make Microsoft the third-largest video game publisher in the world — threatens competition. “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,” said Phil Spencer, Microsoft’s Xbox head, in a tweet. On Sunday, Microsoft did not disclose the duration of the agreement with Sony. Last week, Microsoft won two successive court victories when a federal district court and a US appeals court declined to temporarily block the merger from being consummated.

Persons: Sony didn’t, ”, Phil Spencer, Microsoft’s, we’ve, Brad Smith, Satya Nadella, Jacqueline Scott Corley, “ Organizations: CNN, Microsoft, Sony, PlayStation, Activision, Activision Blizzard, ” Sony, Nintendo, Nvidia, “, Sony PlayStation, Federal Trade Commission

July 14 (Reuters) - Roblox Chief Business Officer Craig Donato is leaving gaming and metaverse company Roblox (RBLX.N), the company told Reuters on Friday. Donato has been at Roblox nearly seven years and will be departing at the end of the summer, the company said. The company said it promoted Christina Wootton to Chief Partnerships Officer, who will oversee all the company's business relationships, in the wake of Donato's imminent departure. Wootton has been at the company since 2014 and has worked with large brands and corporations including Gucci, Nike, Netflix and Disney to develop a presence in the Roblox metaverse, the company said. "We firmly believe that all brands will eventually have a presence on Roblox," Wootton said in a statement.

Persons: Craig Donato, Donato, Christina Wootton, Wootton, Arvind KC, Anna Tong, Edmund Klamann Organizations: Reuters, Gucci, Nike, Netflix, Disney, People, Systems, Thomson Locations: Roblox, San Francisco

Released in 2019, the Xbox Elite Series 2 is a premium gamepad built for hardcore gamers. I've spent weeks with the Xbox Elite Wireless Controller Series 2, and it's a definite improvement over the classic Xbox gamepad. Xbox Elite Series 2 Controller This high-end Xbox and PC controller has a rechargeable battery, four extra paddle buttons, and extra tools to customize its buttons. Deal Xbox Elite Series 2 Core Controller (White) The Xbox Elite Series 2 is a fantastic high-end controller with rubber grips and adjustable triggers. Xbox Elite Series 2 vs. Elite Series 2 Core: What's the difference?

Persons: —, It's, I've, William Antonelli, you've, it's, aren't Organizations: Elite, Xbox Elite, Microsoft

☆ FTC loses appeals court bid to temporarily block Microsoft-Activision deal
▼ + stars: | 2023-07-14 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Microsoft is still working to resolve concerns about the transaction from the United Kingdom's Competition and Markets Authority. "We appreciate the Ninth Circuit's swift response denying the FTC's motion to further delay the deal. The FTC first sued to block the acquisition last December, then filed for an emergency injunction to block the completion of the deal before it could have an agency administrative law judge take it up. The agency requested a temporary injunction while the court considered an appeal of the district court's conclusion. FTC representatives did not immediately respond to requests for comment on the ruling.

Persons: Brad Smith, Lina Khan Organizations: Microsoft, Appeals, Circuit, Federal, Activision Blizzard, United Kingdom's, Markets Authority, FTC, Activision Locations: U.S, San Francisco

July 14 (Reuters) - A U.S. appeals court on Friday rejected the Federal Trade Commission's request that it order Microsoft (MSFT.O) to temporarily hold off on closing its $69 billion purchase of "Call of Duty" maker Activision Blizzard (ATVI.O). The appeals court decision removes one of the few remaining hurdles stopping Xbox maker Microsoft from expanding its gaming business by closing its deal to buy Activision. The FTC had also asked Judge Jacqueline Scott Corley of the U.S. District Court in northern California for a stay but she rejected that request late on Thursday. After July 18, either company will be free to walk away from the deal unless they negotiate an extension. But on Tuesday, Judge Corley ruled the deal was legal under antitrust law and declined the FTC request to slap a preliminary injunction on it to give the FTC time to take it before an internal FTC judge in August.

Persons: Jacqueline Scott Corley, Judge Corley, Diane Bartz, Sandra Maler Organizations: Federal Trade, Microsoft, Activision, FTC, U.S, Markets Authority, Sony Group, Thomson Locations: California, Britain, United States

WASHINGTON, July 14 (Reuters) - Microsoft (MSFT.O) urged an appeals court in sometimes scathing language on Friday to reject the U.S. Federal Trade Commission's (FTC) request to pause its $69 billion deal to buy Activision (ATVI.O). The agency asked the 9th Circuit Court of Appeals late on Thursday to require the companies to delay consummating the transaction while the court considered the FTC's broader appeal. Microsoft said on Friday the agency had been slow to file in federal court, and thus it was inappropriate to press for a delay so late in the game. "The district court’s consideration of the FTC's primary claim at trial shows that the court did not misapply the law," Microsoft said. Legal experts have said the agency faced an uphill fight in convincing the appeals court to overturn Corley's ruling.

Persons: Jacqueline Scott Corley, Corley's, Biden, Diane Bartz, David Shepardson, Josie Kao Organizations: Microsoft, U.S . Federal Trade Commission's, Activision, FTC, Sony, PlayStation, Markets Authority, Big Tech, Thomson Locations: San Francisco, Britain

Still, any outstanding regulatory hurdle makes it more likely that the agreement between Microsoft and Activision will expire on July 18 without the deal having been completed. The FTC's court filing about the appeal gave no details, which will go before the Ninth Circuit Court of Appeals on the West Coast. The FTC may request a stay from the appeals court stopping the deal from closing. When U.S. antitrust agencies lose merger challenges in court, appeals are rare. The agency settled with the companies before the appeals court made a decision.

Persons: We’re, Brad Smith, Jacqueline Scott Corley, Corley, Diane Bartz, Diane Craft Organizations: U.S . Federal Trade Commission, Microsoft, Activision, Microsoft's, Ninth Circuit, FTC, Biden, Markets Authority, Japan's Nintendo, Foods, Oats, Thomson Locations: West Coast, San Francisco

The filing had no details on the appeal, which will go to the Ninth Circuit Court of Appeals on the West Coast. 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." Legal scholars questioned that standard, saying that the U.S. antitrust law required the FTC to prove the proposed deal "may" harm competition, not that it "will." The deal is Microsoft's biggest ever, and the largest in the videogame industry's history. To address the agency's concerns, Microsoft agreed to license "Call of Duty" to rivals, including a 10-year contract with Nintendo, contingent on the merger closing.

Persons: Jacqueline Scott Corley, Biden, Judge Corley, Corley, Diane Bartz, Muralikumar Anantharaman, Diane Craft Organizations: U.S . Federal Trade Commission, Microsoft, Activision, Ninth Circuit, U.S, FTC, Nintendo, Thomson Locations: West Coast, San Francisco

The best Prime Day deals that are still liveDeal icon An icon in the shape of a lightning bolt. Great Price Casper Nova Hybrid Mattress (Queen) The Casper Nova Hybrid is the best soft mattress and the best mattress for side sleepers that we've tested. On July 11 of Prime Day 2023, this deal matches the lowest price Amazon offers on this kit. Great Price Apple MagSafe Charger This Prime Day sale is one of the best discounts we've seen on the official MagSafe charger. Lightning Deal Vitamix Explorian E310 Blender For Prime Day, the Vitamix Explorian Blender, Professional-Grade, 64 oz.

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The 60+ best Prime Day deals that are still liveDeal icon An icon in the shape of a lightning bolt. While we've seen it for less in the past year, this is still a great deal on our top mattress. On July 11 of Prime Day 2023, this deal matches the lowest price Amazon offers on this kit. Great Price Apple MagSafe Charger This Prime Day sale is one of the best discounts we've seen on the official MagSafe charger. Lightning Deal Vitamix Explorian E310 Blender For Prime Day, the Vitamix Explorian Blender, Professional-Grade, 64 oz.

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WASHINGTON, July 13 (Reuters) - A U.S. appeals court on the West Coast opened a docket on Thursday on the U.S. Federal Trade Commission's effort to overturn its loss trying to stop Microsoft (MSFT.O) from buying "Call of Duty" maker Activision (ATVI.O). A federal judge in California had ruled for Microsoft on Tuesday, saying the agency had failed to show the deal was illegal under antitrust law. The FTC said late on Wednesday that it would appeal that loss, and Microsoft has said it would fight that appeal. The docket was opened in the Ninth Circuit Court of Appeals and suggests the text of the FTC's appeal was forthcoming. After July 18, either company will be free to walk away from the deal unless they negotiate an extension.

Persons: Jacqueline Scott Corley, Diane Bartz, David Shepardson, Chizu Organizations: Coast, U.S . Federal Trade, Microsoft, Activision, FTC, Ninth Circuit, Biden, Thomson Locations: California, San Francisco

Prime Day 2023 ends tonight and we're still working hard to round up all the best deals of day 2. Down to $164.99, this Prime Day price matches the record low we saw for Black Friday. On select sizes and colors, you can get up to 60% off, the lowest Prime Day price to date. Even with a newer C3 model out this year, this remains a better value, especially at this current Prime Day deal price. This Prime Day deal is the best price we've ever seen, and it's only available by invite for Prime members during Amazon Prime Day.

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Below, you'll find our live coverage of all of the best Prime Day deals on sought-after gaming laptops, PCs, consoles, SSDs, headsets, and more. Amazon gaming deal quick links:Prime Day gaming laptop dealsDeal icon An icon in the shape of a lightning bolt. $999.00 from Walmart Originally $1,649.00 Save 39%Prime Day gaming PC dealsDeal icon An icon in the shape of a lightning bolt. $1,029.99 from Amazon Originally $1,079.99 Save 5%Prime Day SSD dealsDeal icon An icon in the shape of a lightning bolt. $469.99 from Amazon Originally $599.99 Save 22%Prime Day Nintendo Switch dealsDeal icon An icon in the shape of a lightning bolt.

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☆ Roblox beta comes to Meta's Quest VR headsets
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: 1 min

July 12 (Reuters) - Roblox Corp's (RBLX.N) eponymous online game will soon be available on Meta Platforms' (META.O) Quest virtual reality (VR) headsets, according to a blog post by Meta on Wednesday. The game will arrive as a beta version, initially on Quest 2 and Quest Pro, in the coming weeks. "The open beta is a great opportunity for the Roblox developer community to optimize their existing games for Quest and build new ones for VR while gathering input and feedback from the Quest community," Meta said. Roblox, which operates a metaverse – or a virtual place where people play and make transactions, gets 66 million daily users and is available on mobile devices, desktops, and Microsoft's (MSFT.O) Xbox. Reporting by Yuvraj Malik in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Meta, Yuvraj Malik, Shailesh Organizations: Meta, Quest Pro, Quest, VR, Thomson Locations: Bengaluru

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Why the CMA blocked the Microsoft-Activision dealThe U.K. CMA efficiently blocked the acquisition in April, saying the deal raises competition concerns in the nascent cloud gaming market. Like other regulators, the CMA is concerned that Microsoft could take Activision games and make them exclusive to its own platforms. Cloud gaming is a technology that enables gamers to access games via remote servers — effectively streaming a game like you would a movie on Netflix. The CMA, Microsoft and Activision now look set to hash out a possible resolution to the regulator's concerns to get a deal over the line. watch nowMicrosoft has already offered concessions to the U.K. regulator which were rejected.

Persons: Redmond, Michael Ciaglo, Alex Haffner, Fladgate, It's, it's, Haffner, Microsoft Organizations: Activision, Markets, Federal, Microsoft, Activision Blizzard, CMA, Netflix, Warfare, Bloomberg, Getty, CNBC, FTC, Nintendo, European Union Locations: Denver , Colorado

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