This article has been reviewed according to Science X's editorial process and policies. Editors have highlighted the following attributes while ensuring the content's credibility:

fact-checked

reputable news agency

proofread

US regulator backs off Microsoft-Activision challenge

Microsoft
Credit: Pixabay/CC0 Public Domain

The US Federal Trade Commission is suspending its attempt to block Microsoft's buyout of video gaming giant Activision Blizzard, a legal filing showed.

The FTC said late Thursday it would not take the case in front of an administrative judge as planned on August 2, though an option to reopen the case would remain.

This followed the FTC's stinging defeat in a US earlier this month, when a judge refused a request to block the $75 billion from being finalized, pending the litigation.

That decision gave the FTC a clear indication that its arguments would not win the day after a potentially long legal battle.

The FTC is still appealing its federal court defeat, though the last week declined to halt Microsoft's acquisition while that is underway.

Microsoft and Activision on Wednesday agreed to give themselves until October 18 to complete the blockbuster transaction that still needs a sign off from regulators in Britain that had earlier rejected the .

Both sides said they remained firmly committed to the transaction and were emboldened by their victory in US court.

The deal will create the world's third biggest video-gaming giant and has faced significant scrutiny by antitrust regulators.

© 2023 AFP

Citation: US regulator backs off Microsoft-Activision challenge (2023, July 21) retrieved 25 May 2024 from https://techxplore.com/news/2023-07-microsoft-activision.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

Explore further

Microsoft and UK regulators want more time to work on $69 billion Activision deal

1 shares

Feedback to editors