Microsoft‘s proposed acquisition of Activision Blizzard is now looking at a deadline of October 18, following Microsoft’s change of course in order to convince the Competition and Markets Authority of its intentions.
The original deadline was July 18, however, the success that Microsoft saw in the United States District Court for the Northern District of California has spurred it on to address one more substantial obstruction in the United Kingdom.
Update on Activision Blizzard’s merger with Microsoft: agreement deadline extended
The recent decision in the U.S. and approvals in 40 countries all validate that the deal is good for competition, players, and the future of gaming.
Given global regulatory approvals and the…
— Lulu Cheng Meservey (@lulumeservey) July 19, 2023
“The recent decision in the US and approvals in 40 countries all validate that the deal is good for competition, players, and the future of gaming,” announced Lulu Cheng Meservey, Activision Blizzard’s CCO and EVP of corporate affairs, in a post to Twitter.
“Given global regulatory approvals and the companies’ confidence that [the Competition and Markets Authority] now recognizes there are remedies available to meet their concerns in the UK, the Activision Blizzard and Microsoft boards of directors have authorized the companies not to terminate the deal until after October 18,” she explained.
Microsoft’s gaming CEO Phil Spencer also offered his perspective. “We’re optimistic about getting this done, and excited about bringing more games to more players everywhere,” he said.
Earlier this year, the CMA expressed that it was “vital” to allow conditions for competition in the country’s gaming sector and that the acquisition would compromise this aim.
“Microsoft engaged constructively with us to try to address these issues and we are grateful for that, but their proposals were not effective to remedy our concerns and would have replaced competition with ineffective regulation in a new and dynamic market,” explained Martin Coleman, who chaired the investigatory panel in April.
Now, the CMA must submit all relevant evidence for its case to the Competition Appeal Tribunal before July 20 in order for the appeal to be paused and new negotiations to start.
In other gaming news, Starfield fans are scratching their heads over the game’s seemingly strange economy.