SONY - FTC considers options after loss in Activision/Microsoft case- report
2023-07-17 17:15:29 ET
The Federal Trade Commission is evaluating its options after losing court battles last week to try to halt Activision's ( NASDAQ: ATVI ) $69 billion sale to Microsoft ( NASDAQ: MSFT ).
The options for the FTC include pursuing its fight in the internal FTC court, continuing its appeal in federal court, settling with Microsoft ( MSFT ), or simply walking away, according to a Reuters report on Tuesday, which cited a source familiar with the matter.
The Federal Trade Commission was handed its first defeat on Tuesday when a federal judge in San Francisco denied the antitrust regulator's request for a preliminary injunction to block the mega videogame deal. The FTC suffered a second defeat late Friday when the 9th Circuit Court of Appeals denied the FTC's request to temporarily halt the deal while the agency appeals.
On Sunday, Microsoft ( MSFT ) said it signed a binding agreement to keep the videogame "Call of Duty'' on Sony's (NYSE: SONY ) PlayStation following the completion of its acquisition of Activision ( ATVI ).
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- Activision downgraded at Raymond James as Microsoft deal likely to close soon
- Microsoft offers to make small divestiture to meet UK objections on Activision - CNBC
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FTC considers options after loss in Activision/Microsoft case- report