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Microsoft sued over its planned acquisition of Activision

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2 years ago

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The U.S. Trade Commission is pushing ahead to stop Microsoft from buying ‘Call Of Duty’ maker, Activision

The U.S. anti-trust regulator says Microsoft has a record of buying valuable gaming content, which is then used to slow competition.

Microsoft is seeking to acquire ‘Call Of Duty’ maker, Activision for $68.7 billion in the biggest gaming industry deal in history.

However, the U.S. Federal Trade Commission (FTC), which enforces antitrust law, believes Microsoft has a record of holding onto gaming content.

Holly Vedova is the director of FTC’s Bureau of Competition, who said gaming rivals will be impacted if the deal went ahead.

“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.”

Brad Smith is the president of Microsoft, who said the company would fight the ruling.

“While we believed in giving peace a chance, we have complete confidence in our case and welcome the opportunity to present our case in court,” he said.

A hearing will be held before an administrative law judge by August 2023.

The FTC decision led to a slump in Activision shares, which closed 1.5 per cent down at $74.76.

Meanwhile, Microsoft slipped from an earlier high but still closed around 1 per cent higher.

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Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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Niche accountants proving essential to e-commerce success

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4 days ago

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October 9, 2024

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Expert explores the key benefits of partnering with accountants who specialise in niche industries.

In today’s fast-paced digital world, having an accountant who understands the intricacies of e-commerce can make all the difference in your business’s success.

Specialist accountants understand the specific needs of e-commerce businesses, helping to maximise tax savings, streamline operations, and improve financial health.

Niche accountants can identify opportunities to scale, optimise profit margins, and implement strategies that align with your business goals, ultimately drive growth.

Chris Rivera, Founder of The Ecommerce Accountants, joins to share his key insights into the industry.

#featured

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Money

Amazon’s 2024 Prime Day expected to make huge impact on tech sector sales

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4 days ago

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October 9, 2024

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Market experts believe Amazon’s upcoming event will drive a surge in sales, benefiting Amazon’s stock and boosting consumer tech companies that sell through its platform.

Experts predict that a short-term rally in retail and tech stocks could be seen as revenue spikes.

Founder/CEO of Unearthing Opportunities, and Board Advisor to Power Hero, Bradley A Gastwirth joins to unpack the latest market moves. #featured #trending

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Money

Financial stress deemed a leading cause of relationship breakdowns

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6 days ago

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October 8, 2024

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Expert insights on preventing financial conflicts and keeping relationships thriving

Investment Insights is an informative and inspiring interview-style show that dives into the world of money management and wealth creation, making complex financial concepts accessible to all.

Hosted by the Founder of The Investor’s Way, Andrew Woodward.

In this episode, Andrew is joined by Dee Tozer, Couples Master Coach.

#investment insights

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