FTC sues to block Microsoft's $69 billion acquisition of game giant Activision Blizzard

The Federal Trade Commission on Thursday sued Microsoft Corp. to block its $69 billion deal to buy Activision Blizzard Inc.

The acquisition, which would be Microsoft’s MSFT, +1.03% largest and the biggest ever in the video gaming industry, would “enable Microsoft to suppress competitors to its Xbox gaming consoles and its rapidly growing subscription content and cloud-gaming business,” the FTC claimed. “Microsoft has already shown that it can and will withhold content from its gaming rivals,” Holly Vedova, director of the FTC’s Bureau of Competition, said in a statement. “Today we seek to stop Microsoft from gaining control over a leading independent game studio and using it to harm competition in multiple dynamic and fast-growing gaming markets.”

FTC members pointed to Microsoft’s record of “acquiring and using valuable gaming content to suppress competition from rival consoles,” including its acquisition of ZeniMax, parent company of Bethesda Softworks. Microsoft President Brad Smith indicated the software giant will fight the lawsuit. In a statement, he said Microsoft has “been committed since Day One to addressing competition concerns.”

That is probably good for Microsoft since they were going to overpay big time for it. Long term it would have been good for the company though.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

FTC Sues to Block Microsoft’s $69 Billion Activision Blizzard AcquisitionThe FTC is seeking to block Microsoft from acquiring Activision Blizzard, maker of video-game franchises including “Call of Duty,” “Overwatch” and “World of Warcraft,&…
Source: Variety - 🏆 108. / 63 Read more »

Xbox Being Sued by FTC Over Activision Blizzard AcquisitionThe FTC, one of the biggest government agencies in the United States, is suing Microsoft in an [...] Microsoft should block destiny on Xbox until Sony agrees to it's Call of Duty terms
Source: ComicBook - 🏆 65. / 68 Read more »

U.S. Regulator Sues Microsoft to Block Activision AcquisitionThe Federal Trade Commission seeks to stop the tech giant from ‘harming competition’ in the gaming market Checkmate. These monopolies need to be stopped. They only benefit the shareholders, and give too much power to owners. They also hamper competition. These monopolies do not benefit the average customer.
Source: WSJ - 🏆 98. / 63 Read more »

Microsoft to bring 'Call of Duty' to Nintendo if Activision merger approvedMicrosoft Corp. said late Tuesday it has made a '10-year commitment' to bring the massively popular 'Call of Duty' videogame series to Nintendo Co. consoles,...
Source: MarketWatch - 🏆 3. / 97 Read more »