The US Federal Trade Commission (FTC) has taken a significant step back in its case against Microsoft’s acquisition of Activision, withdrawing the agency’s case before an in-house judge. This move comes after the district court refused to issue a preliminary injunction and an appeals court denied a request to pause the deal. The trial, which was set to begin on August 2 before the FTC administrative law judge, has now been put on hold.
Microsoft and Activision argued that the withdrawal of the case was necessary and in the public interest, stating that the district court had already thoroughly considered the FTC’s claims and concluded that the Commission was unlikely to succeed due to multiple reasons. Meanwhile, Activision Blizzard extended the deadline for the takeover by Microsoft to October 18. The companies also agreed to increase the deal termination fee if the transaction does not close by August 29, with further increases after September 15.
In related news, Microsoft’s appeal against Britain’s block on the Activision takeover has been formally paused to allow more time for the parties to resolve the dispute. This pause was requested by Microsoft, Activision, and the UK competition regulator, the Competition and Markets Authority (CMA), after the CMA expressed willingness to consider a modified deal proposed by Microsoft.
It is evident that the FTC’s decision reflects the complexities and challenges involved in this high-profile acquisition. The outcome of this case holds significant implications for both Microsoft and Activision, as well as the gaming industry as a whole.
In other news, the Nothing Phone 2 has been launched, and on the latest episode of Orbital, the Gadgets 360 podcast, experts debate whether it will replace or coexist with its predecessor, the Phone 1. The podcast is available on various platforms such as Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, and Amazon Music.
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Eugen Boglaru is an AI aficionado covering the fascinating and rapidly advancing field of Artificial Intelligence. From machine learning breakthroughs to ethical considerations, Eugen provides readers with a deep dive into the world of AI, demystifying complex concepts and exploring the transformative impact of intelligent technologies.
