NEW: The FTC is suing to block Microsoft's $69 billion acquisition of video game developer Activision Blizzard.
The Federal Trade Commission will seek to block Microsoft's $69 billion acquisition of video game developer Activision Blizzard, the agency: If the FTC is successful, it will be a major blow to the biggest attempted deal in gaming history. And the suit itself is another clear signal from the agency that any big tech company looking to buy a smaller one should be wary.
It's a major setback for Microsoft, after a full-court press tour which sought to warm regulators to the deal, including an"Microsoft has already shown that it can and will withhold content from its gaming rivals," said Holly Vedova, director of the FTC’s bureau of competition, in a statement. "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.
"While we believed in giving peace a chance, we have complete confidence in our case and welcome the opportunity to present our case in court."
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