Judge gives Microsoft OK for record $69 billion acquisition of Activision Blizzard

Microsoft CEO Satya Nadella arrives at the Phillip Burton Federal Building and U.S. Courthouse in San Francisco, on Wednesday, June 28, 2023. Microsoft is defending the company's proposed $69 billion takeover of video game maker Activision Blizzard as federal regulators seek to block the deal. A federal judge has handed Microsoft a major victory by declining to block its looming $69 billion takeover of video game company Activision Blizzard.

Microsoft appeared to have the upper hand in a 5-day San Francisco court hearing that ended late last month. The proceeding showcased testimony by Microsoft Chief Executive Officer Satya Nadella and longtime Activision Blizzard CEO Bobby Kotick, who both pledged to keep Activision’s blockbuster game Call of Duty available to people who play it on consoles — particularly Sony’s PlayStation — that compete with Microsoft’s Xbox.

Both companies suggested that such a delay would effectively force them to abandon the takeover agreement they signed nearly 18 months ago. Microsoft has promised to pay Activision a $3 billion breakup fee if the deal doesn’t close by July 18. Corley, herself a Biden nominee, expressed skepticism about the FTC’s case during the proceedings, particularly about the hypothetical harms caused if Microsoft were to remove Call of Duty from rival platforms or offer a subpar experience on competing consoles.Corley said the merger deserved scrutiny.

The Competition and Markets Authority and Microsoft said they jointly applied to put the hearing on hold, saying a “stay of litigation” would be in the public interest while they work out a way to resolve their differences so that the deal can go ahead.

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