Microsoft's USD 69 billion acquisition of Activision Blizzard, the maker of Call of Duty, cleared a significant hurdle on Friday when a U.S. appeals court denied the FTC's request to halt the deal. The FTC argued that the deal would harm consumers and competition in the video game industry, but a district court judge and an appeals court both rejected that claim. Microsoft offered 10-year licenses to rivals like Sony Group to address the FTC's concerns.
The deal—the largest in video game history—still needs approval in Britain, where the competition regulator is reviewing a new proposal from Microsoft. The U.K.'s Competition and Markets Authority extended its deadline for a final ruling to August 29. But it hopes to reach a decision as soon as possible. The merger agreement expires on July 18, after which either company can choose to walk away unless they negotiate an extension.