Microsoft can move ahead with record $69 billion acquisition of Activision Blizzard, judge rules

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Microsoft

The Associated Press

A federal judge has handed Microsoft a major victory by declining to block its looming $69 billion takeover of video game company Activision Blizzard.

Regulators are seeking to ax the deal because they say it will hurt competition.

U.S. District Judge Jacqueline Scott Corley said in a ruling that the Federal Trade Commission “has not shown a likelihood it will prevail.”

The case was an important test for the FTC’s heightened scrutiny of the technology industry under Chairperson Lina Khan, who was installed by President Joe Biden in 2021 because of her tough stance on what she sees as monopolistic behavior by tech giants such as Amazon, Google and Facebook parent Meta.

Read the full story on AP News right here.

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7/11/2023 1:48:51 PM (GMT -5:00)

Categories: Regional and US News