Microsoft cleared two major hurdles in its plan to buy video game maker Activision Blizzard after a US judge approved the $69 billion deal and a British regulator indicated it might reconsider its opposition to the deal.
Shares of Activision rose 10 percent after the news, as the United States and Britain were the only countries opposing what might be the biggest Microsoft deal ever and in the history of the video game industry. Microsoft shares rose 64 cents to $332.47, reports Al-Rai daily quoting Reuters.
US District Court Judge Jacqueline Scott Corley rejected President Joe Biden’s administration’s claim that the deal would harm consumers by giving Microsoft, owner of the Xbox gaming platform, exclusive access to Activision games, including the best-selling “Call of Duty”.
Shortly after the US judge’s decision, Britain’s Competition and Markets Authority said it was ready to consider Microsoft’s proposals to address monopoly concerns in Britain, suggesting that the two parties might reach a solution.
The US Federal Trade Commission said Microsoft would be able to use Activision games to drive competitors like Nintendo and Sony out of competition, which Corley rejected.
“The FTC did not appear likely to succeed in its assertion that the combined company would likely pull Call of Duty from Sony’s PlayStation platform, or that its ownership of Activision games would significantly reduce competition in the video game and cloud gaming market,” the judge said.
The court gave the committee until Friday to appeal the decision.