02:53:24 EDT Sun 19 May 2024
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or Name
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Microsoft CDR (CAD Hedged)
Symbol MSFT
Shares Issued 9,500,000
Close 2023-08-22 C$ 23.99
Market Cap C$ 227,905,000
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Globe/wire say Microsoft keeping Activision deal alive

2023-08-23 07:26 ET - In the News

The Globe and Mail reports in its Wednesday edition that Activision Blizzard will sell its streaming rights to Ubisoft Entertainment in a fresh attempt to win approval from Britain's antitrust regulator for its $69-billion (U.S.) sale to Microsoft. A Reuters dispatch to The Globe reports that the acquisition was blocked by Britain's competition regulator, which was concerned Microsoft would gain too much control of the nascent cloud gaming market. The Competition and Markets Authority said on Tuesday it had stuck by its original decision to veto the deal, forcing Microsoft to come forward with new terms. Under the restructured deal, Microsoft will not be able to release Activision games such as Overwatch and Diablo exclusively on its own cloud streaming service -- Xbox Cloud Gaming -- or to exclusively control the licensing terms for rival services. Instead, Ubisoft will acquire the cloud streaming rights for Activision's existing PC and console games, and any new games released by Activision in the next 15 years. That will apply globally but not in Europe, where Brussels had already accepted the original deal. The CMA planned to block the deal in April and was preparing to go to court to defend its case.

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