Microsoft says it will appeal the decision
last month, noting that it would be costly for Microsoft to withhold the popular franchise from PlayStation. That left some cloud gaming concerns on the table, but the regulator says it considered whether the benefit of having Activision’s content on Game Pass outweighed the concerns around cloud gaming in the UK.
“Microsoft engaged constructively with us to try to address these issues and we are grateful for that, but their proposals were not effective to remedy our concerns and would have replaced competition with ineffective regulation in a new and dynamic market,” says Martin Coleman, chair of the independent panel of experts conducting the investigation.
Microsoft now says it will appeal the decision. “We remain fully committed to this acquisition and will appeal,” says Microsoft president Brad Smith in a statement to. “The CMA’s decision rejects a pragmatic path to address competition concerns and discourages technology innovation and investment in the United Kingdom.
A Microsoft appeal will push back the company’s plans to try and get this deal over the line by the end of July. Microsoft had originally planned to close the deal by July 18th and it will now be forced to negotiate an extension to the merger agreement. If Microsoft’s CMA appeal fails or it fails to get approval from other regulators it will owe Activision $3 billion in break up fees.
Regulators in Saudi Arabia, Brazil, Chile, Serbia, Japan, and South Africa have all approved the deal. The EU is set to make a decision by May 22nd, with
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Microsoft’s $75 Billion Deal for Activision Blizzard Rejected by U.K.Breaking: The U.K.'s antitrust watchdog rejected Microsoft's $75 billion deal to buy Activision Blizzard, raising a high hurdle in the company's bid for global approval
Read more »
Xbox Content and Services Revenue Increases as Hardware FallsMicrosoft says it still expects the close the Activision Blizzard acquisition in fiscal year 2023.
Read more »
Microsoft preparing to close Activision deal despite FTC suit: sourcesMicrosoft is making plans to complete its $69 billion acquisition of Activision Blizzard — despite the Federal Trade Commission’s December move to block the deal over antitrust concerns, The …
Read more »
China court documents incorrectly showed Activision was being sued by former partner NetEase | EngadgetBlizzard Entertainment is being sued by former Chinese publishing partner NetEase after servers shutdown in January when the two failed to reach a continuation agreement.
Read more »
Blizzard sued by former Chinese partner after messy breakup | EngadgetBlizzard Entertainment is being sued by former Chinese publishing partner NetEase after servers shutdown in January when the two failed to reach a continuation agreement.
Read more »
UK regulator holding up Microsoft's Activision deal set to get new powers to rein in Big TechA new unit within the U.K.'s Competition and Markets Authority will be given powers to fine Big Tech firms up to 10% of global revenues for breaches.
Read more »