“Big Tech Dethroned: UK Watchdog Puts a Halt to Microsoft’s $69 Billion Buyout of Activision Blizzard”

“Big Tech Dethroned: UK Watchdog Puts a Halt to Microsoft’s $69 Billion Buyout of Activision Blizzard”

Microsoft’s planned takeover of gaming giant Activision Blizzard has been blocked by UK watchdogs, the Competition and Markets Authority (CMA). The move follows the US Department of Justice’s decision to file a lawsuit to block the deal, which would have valued Activision at $69 billion. The CMA said the deal would have led to higher prices for Xbox gamers in the UK, as well as curtailing access to games and reducing innovation in the sector. Microsoft had said the deal would enhance its gaming offering, with titles such as Call of Duty and Candy Crush Saga joining its existing franchises, including Halo and Minecraft.

Microsoft’s $69bn takeover of gaming powerhouse Activision Blizzard has been dealt a major blow by UK watchdog the Competition and Markets Authority (CMA). The US Department of Justice (DOJ) lawsuit already put a spanner in the works of the acquisition deal, and now the CMA has joined in blocking it. CMA said that its main concern was that the deal would have led to higher prices for Xbox gamers in the UK, as well as curbing access to games and reducing innovation in the sector, resulting in a decrease in the quality of the gaming experience. Microsoft claimed that the deal would have brought value to gamers by enriching its gaming catalog with popular titles like Call of Duty and Candy Crush Saga.

For Microsoft, the takeover would have helped bolster its gaming division and expand its portfolio of games. The acquisition would have seen venerable gaming franchise Call of Duty and gaming mainstay Candy Crush Saga become part of the Microsoft gaming offering. However, watchdogs such as the CMA and DOJ were keen on ensuring that competition in the gaming sector remained strong, and that consumers did not face higher gaming-related costs.

Key Takeaway:
– The UK’s Competition and Markets Authority has blocked Microsoft’s $69 billion takeover of gaming company Activision Blizzard.
– The watchdog claims that the acquisition would have led to higher prices for Xbox gamers in the UK, as well as curtailing access to games and reducing innovation in the sector.
– Microsoft had hoped to bring popular titles like Call of Duty and Candy Crush Saga into its gaming offering.

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