The Biden administration on Thursday moved to block Microsoft's US$69 billion bid to buy 'Call of Duty' maker Activision Blizzard, throwing a stumbling block in front of the tech giant's plans to rapidly expand its portfolio of popular games and catch up to bigger rivals.
The Biden administration on Thursday moved to block Microsoft's US$69 billion bid to buy "Call of Duty" maker Activision Blizzard, throwing a stumbling block in front of the tech giant's plans to rapidly expand its portfolio of popular games and catch up to bigger rivals.
The U.S. software company had said it wanted the deal to help it compete with gaming leaders Tencent and PlayStation owner Sony, which has criticized the deal. "Today, we seek to stop Microsoft from gaining control over a leading independent game studio and using it to harm competition in multiple dynamic and fast-growing gaming markets."Microsoft President Brad Smith said the company would fight the FTC. "While we believed in giving peace a chance, we have complete confidence in our case and welcome the opportunity to present our case in court," he said.
Shares in Activision closed down 1.5% at $74.76, while Microsoft slipped from earlier highs but closed about 1% higher at $247.40. To woo regulators, shortly after the deal was announced Microsoft unveiled a new set of principles for its app store, including open access to developers who meet privacy and security standards.
"I think we can predict with a high degree of certainty that he will listen to those arguments and may be sympathetic to it," said Kovacic.
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