FTC will try to block Microsoft's Activision Blizzard acquisition
The Federal Trade Commission is moving to block the tech giant Microsoft from acquiring the gaming powerhouse Activision Blizzard, a spokesperson for the agency said.
“We welcome the opportunity to present our case in federal court,” Brad Smith, Microsoft’s vice chair and president, said in a statement emailed to The Times. “We believe accelerating the legal process in the U.S. will ultimately bring more choice and competition to the market.”Activision Blizzard — the Santa Monica-based maker of popular gaming franchises including “Call of Duty” and “World of Warcraft” — for $68.7 billion.
A settlement with the federal Equal Employment Opportunity Commission led Activision to establish an $18-million fund for workers who experienced sexual harassment or discrimination at the company, among other types of workplace misconduct. The firm denied all wrongdoing. Nadella has expressed ambitions of changing the company’s culture.
Monday. “Our excellent legal team has been preparing for this move for more than a year, and we’re ready to present our case to a federal judge who can evaluate the transaction on the merits.”the acquisition, saying that a merger would harm competition in the gaming market.
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