FTC Prevents Microsoft From Acquiring Activision Blizzard
The US Federal Trade Commission (FTC) attempted to prevent Microsoft from acquiring gaming behemoth Activision Blizzard.
The FTC asserted in a recent lawsuit that Microsoft and Sony currently “control” the high-performance gaming company with their respective XBOX and Play Station systems and that purchasing Activision Blizzard would expand Microsoft’s authority in the field.
The FTC’s Bureau of Competition Director, Holly Vedova, cited Microsoft’s track record of purchasing ZeniMax and restricting the distribution of popular titles such as Starfield and Redfall to XBOX systems. He stated:
“Microsoft has already shown that it can and will withhold content from its gaming rivals. 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.”
Satya Nadella, CEO and Chairman of Microsoft, previously suggested that acquisition will be critical in developing metaverse platforms. The FTC’s worries, however, have an indirect influence on Microsoft’s metaverse ambitions.
The agency launched a complaint against social network behemoth Meta in July, stating that its ultimate objective is to acquire the whole metaverse.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
Author
Metaverse News
FTC Prevents Microsoft From Acquiring Activision Blizzard
The US Federal Trade Commission (FTC) attempted to prevent Microsoft from acquiring gaming behemoth Activision Blizzard.
The FTC asserted in a recent lawsuit that Microsoft and Sony currently “control” the high-performance gaming company with their respective XBOX and Play Station systems and that purchasing Activision Blizzard would expand Microsoft’s authority in the field.
The FTC’s Bureau of Competition Director, Holly Vedova, cited Microsoft’s track record of purchasing ZeniMax and restricting the distribution of popular titles such as Starfield and Redfall to XBOX systems. He stated:
“Microsoft has already shown that it can and will withhold content from its gaming rivals. 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.”
Satya Nadella, CEO and Chairman of Microsoft, previously suggested that acquisition will be critical in developing metaverse platforms. The FTC’s worries, however, have an indirect influence on Microsoft’s metaverse ambitions.
The agency launched a complaint against social network behemoth Meta in July, stating that its ultimate objective is to acquire the whole metaverse.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
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