The Federal Trade Commission (FTC), now under Republican control, has dismissed the Biden-era initiative to block Microsoft's acquisition of Activision Blizzard, a deal worth $69 billion. This decision comes after a series of unsuccessful court attempts by the FTC to prevent the merger. Highlighting a change in governance emphasis, the FTC concluded that moving forward serves the public interest better. Microsoft's completion of the acquisition in October 2023 marks a notable moment in the gaming industry, aiming to bolster Xbox sales against competitors like Sony and Nintendo.
The Republican-controlled FTC is abandoning a Biden-era effort to block Microsoft's purchase of Activision Blizzard, asserting that the public interest is best served by dismissing litigation.
Microsoft's $69bn acquisition of Activision was among the largest in tech history and aimed to enhance the competitiveness of the Xbox gaming console.
Following the FTC's decision to drop the acquisition litigations, Microsoft welcomed the announcement as a victory for video gamers and rational governance.
Brad Smith, Microsoft's vice chairman, expressed gratitude to the FTC, highlighting the decision as beneficial not only for players but also indicating a sensible approach in Washington.
Collection
[
|
...
]