UK Regulator Delays Decision on Microsoft's Acquisition of Activision Blizzard

The UK's Competition and Markets Authority has revised its timeline for the in-depth examination of Microsoft's proposed takeover of Activision Blizzard. Initially, the regulator was set to release its findings on March 1, 2023, but has now extended this deadline to April 26, 2023. The inquiry team is working to finalize the report as quickly as possible, ahead of the new deadline. The extension is due to the complexity and scope of the investigation, as well as the need to consider a large volume of evidence and submissions from main and third parties. Last month, the CMA received over 2,600 public responses regarding the merger, with 75% of the valid responses supporting the deal. The updated timeline shows that the inquiry group spent December holding hearings and requesting submissions, which will continue into January. By February, the CMA will notify parties of its provisional findings and potential remedies, with further hearings planned for March. The final deadline for submitting evidence or comments is March 2023, and the final report will be published by April 26. Microsoft needs to secure approval from the CMA, as well as the US Federal Trade Commission and the European Commission, to proceed with its $68.7 billion acquisition of Activision Blizzard. The US FTC has filed a lawsuit to block the deal, with a trial scheduled for August 2023, while the European Commission is surveying game companies about their concerns regarding the proposed acquisition.