So about Microsoft buying Activision
19Microsoft's $68.7 billion buyout of video game publisher Activision Blizzard has been dealt a blow by the UK's Competition & Markets Authority (CMA), which has announced plans to block the deal due to concerns over cloud gaming. In response, Microsoft has signed a 10-year deal with European cloud gaming platform Nware to stream PC games made by Xbox and Activision Blizzard to its platform, should the deal close. This is one of several deals Microsoft has signed to try to convince regulators to approve the buyout. Microsoft and Activision Blizzard are preparing to appeal the CMA's decision, but the process could take some time. The European Union is expected to hand down its decision by May 22, and reports suggest it will approve the deal. The FTC in the US is not expected to have its first hearing on the matter until August 2, 2023.
Microsoft's attempted acquisition of Activision Blizzard, a massive multinational game developer, has been blocked by the UK's competition watchdog. The $70 billion purchase would have been the largest in gaming history, but the Competition and Markets Authority (CMA) blocked it, arguing that it would give Microsoft undue power to shape the nascent field of cloud gaming. This decision is unusual as "vertical" mergers, where a company buys a supplier, are generally considered safer than "horizontal" ones, where a company buys a competitor.
The CMA's decision is expected to hurt the UK's technology innovation and investment, according to Microsoft and Activision Blizzard. The companies warned that innovators would take note that the UK is closed for business, which would discourage investment in the country. This threat is concerning for Rishi Sunak, who recently declared the UK the "Unicorn Kingdom" and promoted it as a new home for startups.
In other news, next week marks the 30th annual World Press Freedom Day, which is an opportunity to pledge support for independent media. The free press is under attack from multiple forces, with media outlets closing their doors due to a broken business model and governments dictating what can and cannot be printed. Without a robust and free press, a healthy democracy is impossible, and supporting independent media is an investment in an informed and empowered public. The Guardian is asking for support to power its reporting for years to come.
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