The EU’s antitrust regulator has gone against the grain of its U.S. and UK counterparts by waving through Microsoft’s proposed $69B takeover of Call of Duty maker Activision Blizzard.
26.04.2023 - 13:51 / deadline.com
Microsoft’s $68.7BN deal for games giant Activision Blizzard has been blocked by regulators in the UK.
Both companies hit out at the Competition and Markets Authority (CMA), which ruled the proposed takeover would “alter the fast-growing cloud gaming market, leading to reduced innovation and less choice for UK gamers over the years to come.”
“The CMA’s report contradicts the ambitions of the UK to become an attractive country to build technology businesses,” an Activision spokesperson told the BBC.
“The CMA’s decision rejects a pragmatic path to address competition concerns and discourages technology innovation and investment in the United Kingdom,” added Brad Smith, the Vice Chairman and President of Microsoft.
The CMA had outlined its issues with the deal in February and said today’s final, binding ruling came after “Microsoft’s proposed solution failed to effectively address the concerns in the cloud gaming sector.” It claimed the proposal would need “some degree of regulatory oversight” but “preventing the merger would effectively allow market forces to continue to operate and shape the development of cloud gaming.”
The regulator had launched an in-depth review of the merger back in September 2022 after Microsoft struck its megabucks deal to acquire the Call of Duty franchise creator in January.
The CMA claims Microsoft owns up to 70% of the global cloud gaming services market already and has “other important strengths” in the area from owning Xbox, the Windows PC operating system and a global cloud computing infrastructure through Azure and Xbox Cloud Gaming.
“The deal would reinforce Microsoft’s advantage in the market by giving it control over important gaming content such as Call of Duty, Overwatch, and World
The EU’s antitrust regulator has gone against the grain of its U.S. and UK counterparts by waving through Microsoft’s proposed $69B takeover of Call of Duty maker Activision Blizzard.
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Microsoft president Brad Smith has described yesterday (April 26) as the company’s “darkest day in our four decades in Britain,” after its proposed £55billion purchase of Activision Blizzard was blocked in the UK.Yesterday, the Competition and Markets Authority (CMA) announced that it was blocking Microsoft’s proposed acquisition, over concerns that ownership of Activision Blizzard‘s catalogue — which includes the likes of Call Of Duty, Overwatch and World Of Warcraft — would harm competition in the cloud gaming market.Speaking on the BBC‘s Wake Up To Money podcast (via GamesIndustry.biz), Brad Smith accused the decision of being “bad for Britain,” and claimed it will “discourage innovation and investment in the UK”.“Microsoft has been in the United Kingdom for 40 years and we play a vital role, not just supporting businesses and non-profits but even defending the nation from cyber-security threats,” said Smith. “But this decision, I have to say, is probably the darkest day in our four decades in Britain.
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$68.7 billion acquisition of Activision Blizzard after publishing its final findings on Wednesday.The regulator, which initially launched an in-depth review of the deal in September, provisionally determined in February that the merger could make the tech giant even stronger in cloud gaming, stifling market competition. In its final decision, the CMA determined that Microsoft would “find it commercially beneficial to make Activision’s games exclusive to its own cloud gaming service” and that the deal would “reinforce Microsoft’s advantage in the market by giving it control over important gaming content such as Call of Duty, Overwatch, and World of Warcraft.”“Given its already strong position, even a moderate increment to Microsoft’s strength may be expected to substantially reduce competition in this developing market, to the detriment of current and future cloud gaming users,” the CMA said.
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