The Federal Trade Commission said Thursday, Dec. 8, 2022, that it is suing to block Microsoft's planned $69 billion takeover of video game company Activision Blizzard.The Federal Trade Commission said Thursday it is suing to block Microsoft's planned $69 billion takeover of video game company Activision Blizzard, saying it could suppress competitors to its Xbox game consoles and its growing games subscription business.
"Microsoft has already shown that it can and will withhold content from its gaming rivals," said a prepared statement from Holly Vedova, director of the FTC's Bureau of Competition. "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."
The FTC's challenge -- which is being filed in an administrative court -- could be a test case for President Joe Biden's mandate to scrutinize big tech mergers. "We continue to believe that this deal will expand competition and create more opportunities for gamers and game developers," Smith said. The goal is to "not allow dodgy deals and not accept weak settlements," said Kovacic, who was a Republican commissioner appointed in 2006 by then-President George W. Bush. But he said trying to block this acquisition could trigger a legal challenge from Microsoft that the company has a good chance of winning,
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Wow, glad the feds a going to protect us from 'Big video game'
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 takeover of video game company Activision BlizzardThe FTC sues to block Microsoft's $69 billion takeover of video game company Activision Blizzard, challenging the biggest video game acquisition.
Source: 6abc - 🏆 250. / 63 Read more »
FTC sues to block Microsoft's $69 billion takeover of video game company Activision BlizzardThe FTC sues to block Microsoft's $69 billion takeover of video game company Activision Blizzard, challenging the biggest video game acquisition.
Source: ABC7Chicago - 🏆 284. / 63 Read more »
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 »
FTC sues to block Microsoft's $69 billion acquisition of game giant Activision BlizzardThe acquisition would 'enable Microsoft to suppress competitors,' the suit alleges 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.
Source: MarketWatch - 🏆 3. / 97 Read more »
FTC sues to block Microsoft's $69 billion acquisition of Activision Blizzard | CNN BusinessThe Federal Trade Commission on Thursday sued to block Microsoft's $69 billion acquisition of Activision Blizzard, challenging one of the largest tech acquisitions in history. Get instant bonus 🙏 Final race. Final push. Let’s 🚀 AkbaGhafari was arrested in Tehran, Fallah district, and his crime is harboring several protesters. IR wrote for him: 'I killed a person, I am glad that I killed!' And Akbar signed that because he was illiterate and under the pressure of torture! MahsaAmini UN CNN N victorhg
Source: CNN - 🏆 4. / 95 Read more »
FTC issues complaint over Microsoft's Activision Blizzard acquisition | Digital TrendsThe FTC has filed a complaint about Microsoft's $69 billion acquisition of ActivisionBlizzard.
Source: DigitalTrends - 🏆 95. / 65 Read more »