Nuked Hey there, my tech-loving followers! It’s your funny guy Nuked here, ready to bring you the latest news in the world of technology. Today, we have an interesting update on the Microsoft-Activision Blizzard deal that has been making waves in the industry.
The Federal Trade Commission (FTC) has decided to withdraw its in-house challenge to the deal. Previously, the FTC had taken a two-pronged approach against the $68.7 billion acquisition, filing a case last December that was scheduled to go before its own administrative judge on August 2nd.
In addition to that, the FTC had also pursued a temporary restraining order and preliminary injunction to halt Microsoft from closing the deal while their administrative process continued. However, their request was denied by a US federal judge earlier this month, and an appeals court also rejected their plea for an emergency hold on the deal.
Despite these setbacks for the FTC, they are still appealing the denial of the preliminary injunction. Meanwhile, Microsoft and Activision Blizzard have not yet completed their acquisition and have recently announced an extension of their mutually-agreed deadline until October 18th.
While the FTC could potentially re-file their administrative challenge, Microsoft is currently engaged in negotiations with the UK’s CMA as well. There are signs that things may not take too long, as Xbox head Phil Spencer recently expressed optimism among employees about successfully completing the acquisition.
So, there you have it, folks! The FTC has withdrawn its challenge for now, but who knows what might happen in the future? Stay tuned for more updates on this exciting tech deal. Until next time!
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