12/23/2022, 2:37 AM (Source: TeleTrader)
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Microsoft replies to FTC's lawsuit on Activision deal

Microsoft Corporation responded to the United States Federal Trade Commission's recent lawsuit aiming to block the tech giant's acquisition of game maker Activision Blizzard Inc., by filing a formal challenge.

In the filed rebuttal, Microsoft noted that "the acquisition of a single game by the third-place console manufacturer cannot upend a highly competitive industry." Microsoft further claimed that the deal would benefit gaming companies. In order to mitigate the government's stance on the possible acquisition, the company previously decided to offer certain concessions before the lawsuit was brought up.

Microsoft President Brad Smith shared in a statement provided to CNBC that "the door never closes on the opportunity to find an agreement that can benefit everyone." He commented that the company remains "committed to creative solutions with regulators that will protect competition, consumers, and workers in the tech sector."

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