Friday, September 22, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business Biz Plus

US sues to block Microsoft’s $69-b buyout of Activision

AFPbyAFP
December 9, 2022, 7:40 pm
in Biz Plus, Business
Reading Time: 3 mins read
A A
Share on FacebookShare on TwitterShare on Email

Washington, United States—The US Federal Trade Commission on Thursday sued to block Microsoft’s $69-billion buyout of gaming giant Activision Blizzard, maker of the blockbuster “Call of Duty” title, over concerns that it would stifle competition.

The lawsuit marks one of the biggest-ever interventions by the US government to stop consolidation in the tech industry and raises significant doubts on the future of the transaction.

“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,” said Holly Vedova, director of the FTC’s Bureau of Competition.

The move by Washington follows an intervention by the European Union, which opened an in-depth probe into the transaction over its concerns that the deal would see Activision Blizzard’s popular games become exclusive to Microsoft, the maker of the Xbox console.

Britain has also announced an “in-depth investigation” into Microsoft’s planned takeover of Activision, which also produces the mobile game “Candy Crush.”

In January, Microsoft—which also makes its own games to be played on PCs and mobile devices—announced the takeover that would create the world’s third-biggest gaming company by revenue.

The FTC said Microsoft had a proven history of buying up smaller gaming companies only to make the games exclusive to Microsoft—and thus inaccessible to rivals such as Nintendo or Sony.

This would be a significant change for Activision, that currently has a strategy of offering its games on a variety of platforms.

Microsoft had earlier this week made moves to satisfy concerns by announcing that it would bring the “Call of Duty” franchise to Nintendo Switch, a rival of Xbox. This followed an earlier decision to make “Call of Duty” available on Sony’s PlayStation.

“We continue to believe that this deal will expand competition and create more opportunities for gamers and game developers,” said Microsoft President Brad Smith in a statement.

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

Bobby Kotick, the head of Activision Blizzard, told company staff that though the lawsuit “sounds alarming…I want to reinforce my confidence that this deal will close.”

The allegations “don’t align with the facts, and we believe we’ll win this challenge,” he said.

The FTC is led by Lina Khan, who had been an advocate of breaking up the biggest tech firms before she was nominated by President Joe Biden to the job.

Last year, the FTC refiled a lawsuit accusing Facebook of maintaining an illegal monopoly in social networking, reviving the case two months after it was dismissed by a federal judge.AFP

That lawsuit, which could take years to go through the courts without a settlement, called for the court to order “divestiture of assets,” including WhatsApp and Instagram, to restore competition.

A separate US antitrust action has been filed against Google, and Apple and Amazon are also in the crosshairs of antitrust enforcers.

Tags: Activision BlizzardCall of DutyMicrosoftUS Federal Trade Commission
ADVERTISEMENT
AFP

AFP

Related Posts

BSP keeps interest steady at 6.25%, but rate hikes ‘remain on the table’

byJulito G. Rada
September 21, 2023, 9:35 pm
0
8
Banks achieve record profits, loans, deposits

The Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas (BSP), kept the policy rate steady at at...

Read more

DTI endorses SteelAsia’s new mill in Batangas for faster approval

byOthel V. Campos
September 21, 2023, 9:30 pm
0
8
Study: PH, Japan have $49-b untapped trade potential

The Department of Trade and Industry said Thursday it endorsed the 500,000-metric ton section mill of SteelAsia Lemery Works Inc....

Read more

Phoenix selling ‘certain assets’ to manage debt

byAlena Mae S. Flores
September 21, 2023, 9:25 pm
0
8
Phoenix Petroleum’s earnings hit P170m

Phoenix Petroleum Philippines Inc. said Thursday its board approved the management’s decision to sell or transfer certain assets and/or investments....

Read more

DITO CME signs $3.9-b loan to support telecom business

byDarwin G. Amojelar
September 21, 2023, 9:20 pm
0
8
DITO Telecom avoids price war, bares market strategy

DITO CME Holdings Corp. said Thursday it signed a $3.9-billion loan facility to support the operations of its telecom subsidiary....

Read more

Aboitiz Equity raises P17.45b from fixed-rate bond sale to buy Coca-Cola bottler stake

byJenniffer B. Austria
September 21, 2023, 9:15 pm
0
8
ABOITIZ EQUITY VENTURES: Notice of Special Meeting of Stockholders

Conglomerate Aboitiz Equity Ventures Inc. (AEV) said Thursday it raised P17.45 billion from the issuance of fixed-rate bonds. AEV said...

Read more

Fernando Zobel de Ayala returns to BPI board

byJulito G. Rada
September 21, 2023, 9:10 pm
0
8
Queen’s funeral set to knock UK economy after rebound

Fernando Zobel de Ayala returned to the board of the Bank of the Philippine Islands, the country’s third-largest lender said...

Read more

Print Edition

View More

Recent Posts

  • DOTr orders OTS ‘dollar-swallower’ sacked, charged
  • CHR calls anew for protection of vulnerable Pinoys
  • Beijing’s creeping invasion of WPS
  • CamSur mayor charged with illegal quarrying
  • Proof of death
  • Charles III urges France, UK to ‘reinvigorate’ ties at lavish Versailles banquet
  • Day in Court
  • ‘Kids recruited into private army’

Advertisement

Latest News

Charles III urges France, UK to ‘reinvigorate’ ties at lavish Versailles banquet

byAFP
September 22, 2023, 12:00 am
0
8
Nullity of marriage: a defense in bigamy cases

Charles’ visit is seen as the follow-up to moves by UK Prime Minister Rishi Sunak to reset relations between the...

Read more

Day in Court

byDanny Pata
September 21, 2023, 11:40 pm
0
8
Day in Court

Both defense and prosecution counsels in the case of the missing ‘sabungeros’ or cockfighting enthusiasts enter the sala of the...

Read more

‘Kids recruited into private army’

byMacon Ramos-Araneta
September 21, 2023, 11:30 pm
0
8
Kin of drug war victims ask ICC to resume probe

Kids as young as 12 years old and at least seven women were allegedly recruited into the private army of...

Read more

PCSO to launch first e-lottery in PH in November

byRio N. Araja
September 21, 2023, 11:20 pm
0
8
Lucky bettor wins  P162M lotto jackpot

The Philippine Charity Sweepstakes Office will launch its first-ever online or electronic lottery in November as it downplayed fears that...

Read more

Military chief seeks ‘meaningful conversations’ to end conflicts

byVince Lopez
September 21, 2023, 11:10 pm
0
8
Mendoza tapped to lead LTO; COA flags permit tack

Armed Forces of the Philippines chief of staff Gen. Romeo Brawner Jr. on Thursday called for “meaningful conversations” to end...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Pets
  • Tech
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Cravings
  • Environment & Sustainability
  • Agriculture
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Gallery
    • Photos
    • Videos
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App