FTC Sues to Block Microsoft-Activision Blizzard $69B Merger
The Federal Trade Commission on Thursday sued to block Microsoft’s planned $69 billion takeover of video game company Activision Blizzard, saying it could suppress competitors to its Xbox game consoles and its growing games subscription business.
The FTC voted 3-1 to issue the complaint after a closed-door meeting, with the three Democratic commissioners voting in favor and the sole Republican voting against.
The agency said Microsoft has shown through past acquisitions that it will withhold game content from rivals.
Microsoft’s president, Brad Smith, signaled in a statement Thursday that the company is likely to challenge the FTC’s decision.