Activision stock falls after report of 'likely' FTC antitrust lawsuit against Microsoft acquisition
Activision Blizzard Inc. (ATVI)shares declined in after-hours trading Wednesday following a report that the Federal Trade Commission was likely to file an antitrust lawsuit to block the videogame publisher's acquisition by Microsoft Corp. (MSFT)Politico reported late Wednesday that FTC staff are skeptical of arguments by the companies that the $69 billion acquisition would not give Microsoft an unfair benefit in the videogame market, though commissioners have not yet voted on a lawsuit. Microsoft makes the Xbox videogame console, creating concerns that it would make some of Activision's most popular games -- such as the "Call of Duty" franchise -- exclusive to its platform, shutting out rival
(END) Dow Jones Newswires
November 23, 2022 19:02 ET (00:02 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.