Deals
FTC Votes to File Suit to Block Microsoft’s $69 Billion Activision Deal
- Deal would make Microsoft No. 3 gaming company, behind Tencent
- Commissioners voted 3-1 to sue to block the transaction
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The US Federal Trade Commission is seeking to block Microsoft Corp.’s $69 billion acquisition of Activision Blizzard Inc., saying the tie-up between the Xbox maker and popular gaming publisher would harm competition.
The commission voted 3-1 in favor of the complaint, which was filed in its in-house court. Regulators said Microsoft’s ownership of Activision could hurt other players in the $200 billion gaming market by limiting rivals’ access to the company’s biggest games. The transaction would turn Microsoft into the No. 3 gaming company, behind Tencent Holdings Ltd. and Sony Group Corp.