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☆ UK minister rejects Microsoft criticism of decision to block Activision deal
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +1 min

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Sept 19 (Reuters) - British business minister Kemi Badenoch said on Tuesday she did not agree with Microsoft (MSFT.O) President Brad Smith that the Competition and Market Authority's initial decision to block its purchase of videogame maker Activision was bad for Britain. "Call of Duty" maker Activision Blizzard (ATVI.O) has since said it will sell its streaming rights in a fresh attempt to win approval from Britain's anti-trust regulator, the CMA, for its $69 billion sale to Microsoft. "If the CMA is doing something wrong, I think that will become evident through a pattern which is not yet the case." Reporting by Alistair Smout and Muvija M; Editing by Sachin RavikumarOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Kemi Badenoch, Brad Smith, Badenoch, Alistair Smout, Sachin Ravikumar Organizations: Microsoft, Activision, REUTERS, Britain, CMA, Thomson Locations: United States

☆ Microsoft projects two new areas of growth for gaming, leaked document says: Mobile and ads
▼ + stars: | 2023-09-19 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

The document does not mention the $68.7 billion Activision deal, which had been announced months earlier. It shows gaming revenue doubling to $36 billion in the 2030 fiscal year, compared with a forecast of $18 billion for the 2022 fiscal year. Actual fiscal 2022 gaming revenue totaled $16.23 billion, according to an annual report. And it indicated that management saw revenue from mobile transactions reaching $2.6 billion, compared with none in fiscal 2022. The total of the two categories is $4 billion, or 11% of total gaming revenue.

Persons: Jacqueline Scott Corley, Corley, Phil Spencer, Candy, Spencer, Amy Hood Organizations: Microsoft, Federal Trade Commission, Activision Blizzard, U.S, Northern, Northern District of, Activision, Twitter, Yahoo, Xbox, King Digital Entertainment, United Kingdom's, Markets Authority, Ubisoft Locations: Northern District, Northern District of California

☆ Microsoft's Xbox plans revealed in emails tied to FTC case
▼ + stars: | 2023-09-19 | by ( Kevin Collier | ) www.cnbc.com time to read: +2 min

An attorney with the Federal Trade Commission (FTC) carries an XBOX game console box following a hearing at the Phillip Burton Federal Building and U.S. A huge collection of purported Xbox files related to the Federal Trade Commission's case against Microsoft have been published online, spilling some of the company's plans for the gaming console into public view. They include more than 100 documents, many of them partially redacted, related to Microsoft's Xbox plans. The files include emails from corporate executives like Microsoft Gaming CEO Phil Spencer and timetables for gaming releases. Some of the documents include Microsoft Gaming senior employees discussing the value of the exclusive hold they have on key video game titles.

Persons: Phillip Burton, Douglas Farrar, Phil Spencer, It's Organizations: Federal Trade Commission, Phillip Burton Federal Building, Federal Trade, Microsoft, U.S, Northern, Northern District of, Activision Blizzard, NBC News, Microsoft Gaming, Sony, Elder Locations: San Francisco , California, Northern District, Northern District of California

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. The European Commission had cleared the deal in May after Microsoft agreed to license popular Activision games such as "Call of Duty" to rival game-streaming platforms. That clearance was given before Microsoft proposed the Ubisoft deal to appease the UK regulator. However, the EU antitrust watchdog has since emailed companies to ask for feedback, the sources told Reuters. An EU investigation looks unlikely, other sources said, citing the structuring of Microsoft's CMA proposal to ensure compliance with its EU remedies.

Persons: Dado Ruvic, Microsoft's, Foo Yun, Jason Neely, David Goodman Organizations: Microsoft, Activision, REUTERS, Rights, Activision Blizzard, Ubisoft Entertainment, Britain's, Markets Authority, European Commission, Ubisoft, Reuters, CMA, Thomson Locations: Rights BRUSSELS, U.S, EU

☆ Cramer: These things could soon break the bulls' way, plus 4 stocks to buy
▼ + stars: | 2023-09-10 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

If you don’t know a soul that is bullish — and I mean flat-out positive — you may need some new friends. I say I am a naked opportunist and I feel naked and alone right now in saying we might have a bunch of things that could break the bulls' way. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: —, We’ve, sotto, Shawn Fain, Leon Trotsky, Fain, Lululemon, LULU, Robert Bradway, Amgen, Lina Khan, Khan, Trump, Estee Lauder, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim, Virginia Sherwood Organizations: Federal Reserve, Softbank's Arm Holdings, United Auto Workers, UAW, Federal Trade, Activision Blizzard, Horizon Therapeutics, FTC, Apple, GE HealthCare, Disney, Bausch Health, Honeywell, Jim Cramer's Charitable, CNBC, NYSE Locations: Russian, U.S, Wells

☆ Microsoft gaming chief Phil Spencer says Starfield is seeing 'huge demand'
▼ + stars: | 2023-09-06 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Phil Spencer, CEO of Microsoft Gaming, appears at the Political Opening of the Gamescom conference in Cologne, Germany, on Aug. 23, 2023. Microsoft is seeing "huge demand" for its new Starfield video game, Phil Spencer, the software company's CEO of gaming, said Wednesday. Microsoft picked up the game through its $8.1 billion acquisition of game publisher ZeniMax, the parent of Bethesda. Spencer said Starfield is the most wish-listed game the company has had on the Steam game store. Spencer said tens of millions of Game Pass subscribers were getting a chance to play Starfield on Wednesday.

Persons: Phil Spencer, Spencer, CNBC's Steve Kovach, ZeniMax, Jim Ryan, Ryan, We've, we've, Starfield Organizations: Microsoft Gaming, Microsoft, Microsoft's Bethesda Game Studios, PlayStation, Gaming, Activision Blizzard, Sony Interactive Entertainment, Activision, Sony, Nintendo, Markets Authority, Ubisoft Locations: Cologne, Germany, Microsoft's, Bethesda, San Francisco

☆ Apple buying Disney would be a storybook ending for Iger, but fairy tales aren't real
▼ + stars: | 2023-09-06 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

Apple co-founder Steve Jobs became Disney's largest individual shareholder after Disney acquired Pixar, then owned by Jobs, for $7.4 billion in 2006. The deal also gave Jobs a seat on the Disney board and fostered a close friendship between Jobs and Disney Chief Executive Bob Iger. Buying Disney wouldn't even classify as a bet-the-company transaction. Still, it's not clear Apple would have any interest in buying Disney. On one hand, buying Disney would supercharge those fledging businesses, which could help with Apple device churn while growing subscription revenue.

Persons: Will Apple, Steve Jobs, Bob Iger, Iger, Jobs, Steve, Steve —, it's, Apple, Apple hasn't, that's Organizations: Apple, Beats Electronics, Microsoft, Activision Blizzard, Disney, Pixar, Jobs, ESPN

REUTERS/Brendan McDermid Acquire Licensing RightsSept 6 (Reuters) - GameStop (GME.N) on Wednesday beat Wall Street estimates for quarterly revenue and posted a smaller-than-expected loss, buoyed by strong demand for videogames, collectibles and consoles. The company's shares rose nearly 6% in extended trading as the results indicated that efforts to boost its digital presence were paying off. Sales of software and collectibles contributed to about 49% of total revenue in the second quarter, the company said. Revenue rose about 2% to $1.16 billion for the quarter ended July 29, GameStop said, topping estimates of $1.14 billion, according to three analysts polled by LSEG. On an adjusted basis, GameStop lost 3 cents per share, compared with analysts' estimates of a loss of 14 cents.

Persons: Brendan McDermid, Ryan Cohen, John Oh, Akash Sriram, Sriraj Organizations: GameStop, New York Stock Exchange, REUTERS, Wednesday, Wall, Gamers, Activision, Arts, LSEG, Thomson Locations: New York City, U.S, Bengaluru

☆ Analysis: FTC settlement could shelter Amgen from US price cuts, taxes
▼ + stars: | 2023-09-05 | by ( Deena Beasley | ) www.reuters.com time to read: +5 min

An Amgen sign is seen at the company's office in South San Francisco, California October 21, 2013. With Horizon, Amgen acquires drugs that won't be affected by new U.S. negotiation requirements for blockbuster medications as well as possible tax advantages stemming from Horizon's headquarters in Ireland. Analysts said the Horizon deal could also help Amgen's tax situation. The United States has largely eliminated once-lucrative corporate tax benefits for pharmaceutical manufacturing operations in Puerto Rico, a U.S. territory. Horizon offers Amgen "potentially a better tax jurisdiction related to Irish manufacturing plants ... Amgen has a new manufacturing process they could potentially move there," Cowen's Werber said.

Persons: Robert Galbraith, Abiel Garcia, John Kness, Donald Trump, Garcia, Evan Seigerman, Lina Khan, Cowen, Biden, Michael Yee, Amgen, Cowen's Werber, Deena Beasley, Peter Henderson, Paul Simao Organizations: REUTERS, U.S . Federal Trade, Horizon Therapeutics, U.S, District, Federal, Activision, Horizon, Amgen, BMO Capital Markets, FTC, Reuters, U.S . Food, Drug Administration, Jefferies, Medicare, Internal Revenue Service, United, Thomson Locations: South San Francisco , California, Amgen, Kesselman, Ireland, U.S, Puerto Rico, United States, Irish

☆ SAG-AFTRA requests approval to strike against video game companies
▼ + stars: | 2023-09-02 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +4 min

New York CNN —SAG-AFTRA’s National Board is unanimously seeking permission from union members to strike against a number of video game makers ahead of negotiations resuming later this month. The union’s initial contract with major video game companies, the Interactive Media Agreement, was extended past its initial expiration date last fall as SAG-AFTRA “negotiated with the companies for critical terms (members) need,” the union said Friday in a news release. Eligible SAG-AFTRA members will be able to vote on authorizing a strike until September 25 at 5 p.m. PT, the evening before discussions resume. “The interactive nature of games are built upon the use of such technologies,” a source familiar with the companies’ negotiations told CNN. We’re not trying to upend the way video games are made,” the negotiator said.

Persons: AFTRA “, “, ” Fran Drescher, AFTRA, ”, Audrey Cooling, Duncan Crabtree, We’re Organizations: New, New York CNN, SAG, AFTRA’s, Interactive, Alliance, Television Producers, CNN, “, Activision, Epic Games, WB Games, WB, Warner Bros . Locations: New York

In the opening hours of the role-playing video game, it’s possible to land your spaceship on Earth’s moon or zip 16 light-years to Alpha Centauri. That sprawling celestial journey within Starfield, developed by Bethesda Game Studios, reveals both the tremendous potential and the monumental challenge of an open-world space adventure. Bethesda has hyped an expansive single-player campaign with 1,000 explorable planets. And expectations around the game, officially releasing on Sept. 6 after a 10-month delay, are nearly as vast. To compete, Microsoft went on a spending spree, acquiring Bethesda’s parent company in 2020 and agreeing to purchase Activision Blizzard in 2022, a $69 billion bet that is being challenged by regulators.

Persons: Starfield, It’s Organizations: Alpha Centauri, Bethesda Game Studios, Bethesda, Microsoft, Sony, Nintendo, Activision Blizzard Locations: Starfield

☆ Microsoft says it worked hard to address regulatory concerns over Activision Blizzard deal
▼ + stars: | 2023-08-28 | 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 EmailMicrosoft says it worked hard to address regulatory concerns over Activision Blizzard dealBrad Smith, president and vice chair of Microsoft, discusses the company's merger agreement with Activision Blizzard. The two companies had originally agreed to complete the transaction by July 18, but regulatory pushback from the U.S. and the U.K. delayed the takeover.

Persons: Brad Smith Organizations: Microsoft, Activision Blizzard Locations: U.S

☆ Microsoft's president on fresh bid for Activision Blizzard: 'Up to the regulators' to decide
▼ + stars: | 2023-08-28 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

watch nowMicrosoft says it "really tried" to take the concerns of U.K. regulators to heart, before launching its fresh bid to take over Activision Blizzard — and it's now up to the regulators to decide whether that path is clear. "I think we need to let the regulators speak for themselves," Microsoft's vice-chairman and president Brad Smith told CNBC in an exclusive interview. Last Tuesday, Microsoft submitted a new proposal to U.K. regulators for the takeover of American game publisher Activision Blizzard after its initial proposal was rejected. Microsoft submitted a new proposal to U.K. regulators for the takeover of American game publisher Activision Blizzard after its initial proposal was rejected. Brad Smith Microsoft's vice-chairman and presidentOn regulatory concerns, Smith said: "We haven't tried to dismiss them.

Persons: it's, Brad Smith, we've, Brad Smith Microsoft's, Smith, haven't, We've, CNBC's Martin Soong Organizations: Microsoft, Activision Blizzard, CNBC, Activision, Markets Authority, Nurphoto, Activision PC, Ubisoft, CMA Locations: New Delhi

☆ Microsoft Offers Big Concession to Secure Activision Deal
▼ + stars: | 2023-08-26 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

AI’s Thorniest Issues Will Be Addressed in Court Congress is discussing ways to regulate artificial intelligence. But while they debate the best approaches, courts may be the ones to decide some of the most important questions around AI development. WSJ reporter Ryan Tracy joins host Zoe Thomas with a breakdown of multiple lawsuits involving AI and how they could shape the landscape of this burgeoning industry. Illustration: Amogh Alva Vaz

Persons: Will, Ryan Tracy, Zoe Thomas, Amogh Alva Vaz

☆ Opinion | Protecting Competition Is a Vital Goal
▼ + stars: | 2023-08-26 | by ( The Editorial Board | ) www.nytimes.com time to read: +3 min

Compare the United States with Europe, where authorities have more successfully resisted the consolidation of major industries. The economist Thomas Philippon wrote in a 2019 book about the decline of competition in the United States that the American economy would be roughly $1 trillion larger than it is today if the United States had simply maintained the level of competition that prevailed in 2000. The turn toward stringency reflects some of what has been learned in recent years about the effects of corporate concentration, for example, in a new emphasis on protecting workers. The guidelines treat the economic analysis of corporate concentration as a valuable source of information, rather than the measuring stick by which decisions are made. Mr. Kanter said his department is focused on protecting competition because that is the goal that Congress enshrined in law and he is in the law enforcement business.

Persons: Thomas Philippon, Jonathan Kanter, Lina Khan, Kanter, “ We’re, ” Organizations: Amazon, European Union, Antitrust, Federal Trade Commission, Microsoft, Activision Blizzard Locations: United States, Europe

☆ Trump Snubs GOP Debate, Joins Tucker Carlson for Interview on X
▼ + stars: | 2023-08-24 | by ( ) www.wsj.com time to read: 1 min

Microsoft Offers Big Concession to Secure Activision DealMicrosoft has offered new concessions to win over U.K. regulators as it tries to close its $75 billion deal for games publisher Activision Blizzard. WSJ Heard on the Street columnist Dan Gallagher joins host Zoe Thomas to discuss what the tech giant is willing to give up and why this is a strategic long-term bet for Microsoft. Photo: Michael Ciaglo/Bloomberg News

Persons: Dan Gallagher, Zoe Thomas, Michael Ciaglo Organizations: Microsoft, Activision Deal Microsoft, Activision Blizzard, Bloomberg

☆ Goldman’s list of hedge fund favorite stocks is beating the market. Here’s what’s in it
▼ + stars: | 2023-08-24 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

A group of hedge funds' favorite stocks trounced the broader market, thanks to the strength of mega-cap tech, according to Goldman Sachs. It then compiled a basket of the most popular long positions, dubbed Goldman's Hedge Fund VIP basket, comprising 50 stocks that most frequently appear among the largest 10 holdings of hedge funds. The VIP basket has returned 22% this year as of mid-August, outperforming the S & P 500 , which was up 15% during the same period. The largest tech stocks — Amazon , Microsoft , Google parent Alphabet and Meta Platforms — remain the most popular hedge fund long positions at the end of June. Big artificial intelligence winner Nvidia was the fifth-most popular stock among hedge funds.

Persons: Goldman Sachs, Goldman, Uber, — CNBC's Michael Bloom Organizations: Microsoft, Google, Nvidia, Activision, Apple, Horizon Therapeutics, Visa

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. The carve-out is designed to not upset a deal with Brussels for Microsoft to license content to rival cloud services. The CMA's block in April drew fury from the merging parties, with Microsoft saying that Britain was closed for business. It said on Tuesday that it had not felt any political pressure over its handling of the deal. The CMA will also avoid having to defend its original block in court, and Microsoft finally looks set to secure its deal.

Persons: Dado Ruvic, Ronan Scanlan, Arthur Cox, Gustaf Duhs, Scanlan, Antony O'Loughlin, Setfords, Tom Smith, there's, Smith, Kate Holton, Paul Sandle, Martin Coulter, Matthew Lewis Organizations: Microsoft, Activision, REUTERS, Markets Authority, U.S, Ubisoft Entertainment, European Union, U.S ., CMA, Reuters, Stevens & Bolton, Ubisoft, European, Geradin Partners, Big Tech, Thomson Locations: Britain, U.S, Brussels, Dublin, United States, European Union, China, London

The American Alliance for Equal Rights sued Perkins Coie in Dallas and Morrison & Foerster in Miami two months after the Supreme Court sided with another group founded by activist Edward Blum and rejected affirmative action policies used by many colleges to increase enrollment of racial minorities. The federal lawsuits accused both law firms of unlawfully discriminating against white candidates by limiting which law students could be considered for paid fellowships designed in part to help support the recruitment of people of color. "Excluding students from these esteemed fellowships because they are the wrong race is unfair, polarizing and illegal," Blum, who is white, said in a statement. Perkins Coie, founded in Seattle, offers "diversity fellowships" that provide stipends of $15,000 to $25,000 and paid positions as summer associates, a position that at major law firms can lead to full-time jobs with six-figure salaries. Reporting by Nate Raymond in Boston; Editing by Will Dunham, Alexia Garamfalvi and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

Persons: Edward Blum, Perkins Coie, Morrison, Foerster, " Blum, Perkins, Nate Raymond, Will Dunham, Alexia Garamfalvi, Alistair Bell Organizations: U.S, Supreme, Harvard University, University of North, Activision, American Alliance for Equal Rights, Activision Blizzard, Kellogg, Gannett, Civil, American, American Alliance for Equal, Atlanta, Thomson Locations: University of North Carolina, Washington , U.S, Dallas, Miami, Seattle, United States, Asia, San Francisco, Blum's Texas, Boston

☆ Watch: Plane Believed to Be Carrying Wagner Boss Yevgeny Prigozhin Crashes
▼ + stars: | 2023-08-23 | by ( ) www.wsj.com time to read: 1 min

Persons: Dan Gallagher, Zoe Thomas, Michael Ciaglo Organizations: Microsoft, Activision Deal Microsoft, Activision Blizzard, Bloomberg

☆ 'The CMA has taken a very aggressive stance' towards big tech deals since Brexit, says former UK CMA legal director
▼ + stars: | 2023-08-23 | 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 Email'The CMA has taken a very aggressive stance' towards big tech deals since Brexit, says former UK CMA legal directorTom Smith, partner at Geradin Partners and former legal director of the U.K.'s Competition and Markets Authority, discusses the CMA decision on the Microsoft-Activision deal.

Persons: Tom Smith Organizations: CMA, Geradin Partners, Markets Authority, Microsoft, Activision

☆ Europe stocks climb as investors await Nvidia results; German business activity plunges
▼ + stars: | 2023-08-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

LONDON — European stock markets were higher Wednesday, with attention focused on earnings and central bank comments in the U.S. The Stoxx 600 index was up by 0.45% at 8:45 a.m. BST, with most sectors nudging higher. Autos stocks were down by 0.46% after the release of grim PMI figures for Germany, which showed a deepening downturn in manufacturing output and plunge in business activity. European marketsGlobally, investors will be poring over California-based chip designer Nvidia 's results to see how it performs against high Wall Street expectations after a stellar first quarter. The rise in long-dated U.S. Treasury yields, with the yield on the benchmark 10-year note hitting its highest level since 2007, eased Tuesday.

Persons: Nvidia, Jerome Powell, Jackson, Thomas Barkin, Barkin Organizations: U.S, Activision, Treasury, Richmond Fed Locations: Germany, California, U.S

☆ Watch: India Becomes First Country to Land on Moon’s South Pole
▼ + stars: | 2023-08-23 | by ( ) www.wsj.com time to read: 1 min

Persons: Dan Gallagher, Zoe Thomas, Michael Ciaglo Organizations: Microsoft, Activision Deal Microsoft, Activision Blizzard, Bloomberg

☆ Watch: Wagner Boss Yevgeny Prigozhin Killed in Russian Plane Crash
▼ + stars: | 2023-08-23 | by ( ) www.wsj.com time to read: 1 min

Persons: Dan Gallagher, Zoe Thomas, Michael Ciaglo Organizations: Microsoft, Activision Deal Microsoft, Activision Blizzard, Bloomberg

☆ Big tech is playing around with regulators and winning, says GlobalData
▼ + stars: | 2023-08-23 | 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 EmailBig tech is playing around with regulators and winning, says GlobalDataCyrus Mewawalla, Head of Investment Research at GlobalData, discusses Microsoft's restructured proposal to acquire Activision Blizzard.

Persons: GlobalData Cyrus Mewawalla, Microsoft's Organizations: Investment Research, GlobalData, Activision Blizzard

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