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Activision Blizzard CEO Bobby Kotick joins 'Squawk Box' to discuss Microsoft's acquisition of Activision Blizzard, after U.K.'s Competition and Markets Authority gave the green light to Microsoft's proposed $69 billion takeover of the gaming firm, removing the last major hurdle for the deal to close.
They could save money if Activision's titles are added to Xbox Game Pass, a monthly subscription service. But some are reserving judgment.
Microsoft's (MSFT) acquisition of video game developer Activision Blizzard (ATVI has been given the all-clear signal by U.K. regulators. Yahoo Finance Live highlights the timeline of events since Microsoft first announced this $69 billion deal, what it means for Microsoft's outlook, and potential FTC roadblocks.
Microsoft's (MSFT) $69 billion deal to acquire Activision Blizzard (ATVI) was cleared by regulators in the U.K. after the companies restructured it to win regulatory approval, the Competition and Markets Authority (CMA) said on Friday.
After a 20-month battle with regulators in the United States and the United Kingdom, Microsoft Corporation (NASDAQ:MSFT) has closed its $69 billion acquisition of Activision Blizzard Inc (NASDAQ:ATVI), bolstering its gaming offering with the addition of popular titles including Call of Duty, World of Warcraft, and Overwatch. A revised deal, which would involve Ubisoft acquiring Activision's cloud gaming rights instead of Xbox-owner Microsoft to ensure competition in cloud gaming, was approved by the United Kingdom Competition and Markets Authority (CMA) on Friday.
The deal concludes over a year of negotiations between Microsoft and regulators in the U.S. and U.K.
After a winding road of regulatory challenges, Microsoft today closed its $69 billion acquisition of Activision Blizzard, creating a video game behemoth. While Microsoft has always been an acquisitive company, the deal for Activision Blizzard is its biggest, and is the largest M&A deal since AOL bought Time Warner more than two decades ago.
Nineteen months after agreeing to the company's largest purchase ever, Microsoft has closed its acquisition of Activision Blizzard
The megadeal could strengthen Microsoft's standing in the video game industry, after a year and a half of negotiations with regulators around the world.
CNBC's Andrew Ross Sorkin reports on the latest news.