Federal Trade Commission (FTC) backed down and seems to have given up trying to block the acquisition Activision Blizzard companies Microsoft for a record $68.7 billion. U.S. officials suspended an administrative proceeding scheduled to take place on Aug. 2 in federal court.
The FTC fought on two fronts. She already filed this lawsuit at the end of last year, the trial was supposed to begin in August. Meanwhile, he has twice tried unsuccessfully to temporarily suspend an Xbox connection with a Call of Duty, Diablo, Overwatch, or World of Warcraft publisher. Allegedly because there was information about Microsoft’s intention to close the acquisition before the start of the trial.
Now what? The FTC may file a lawsuit again or reach an agreement with Microsoft.. Experts agree that the regulator has very little chance of winning the case against Microsoft and Activision Blizzard. In addition, members of Congress recently called on the FTC to stop challenging the merger.
If nothing happens, the acquisition will take place in the United States. At least now nobody is blocking the connection here. Attention is now focused on UK Competition and Markets Authority (CMA). The latter is expected to receive new offers from Microsoft and Activision Blizzard for the foreseeable future. They are intended to address officials’ concerns about cloud gaming. There have been unconfirmed reports that Microsoft is considering licensing part of its UK cloud gaming business to another firm.
Microsoft and Activision Blizzard recently agreed to an extension. They have time to complete the acquisition from 10/18/2023. The CMA should make a decision no later than 08/29/2023. So if there are any violations/problems, the companies still have enough time.
Historic acquisition earlier approved by 40 marketsincluding the European Union and Japan. Also recently signed a contract guaranteeing that Call of Duty will be released on the PlayStation console for at least 10 years.
Source :Indian TV
