Microsoft Xbox Chief Spencer Pretty ‘Confident’ On Closing Deal With Activision
by upasana sarbajna Business 07 September 2023
In July, Activision granted Microsoft time till the 18th of October to resolve all of its remaining issues related to regulations and finalize the transaction, which would be the road to the biggest video game in history.
The Chief of Microsoft Corporation Xbox, Phil Spencer, mentioned that the company continues to operate with the regulators from the UK to solve all the remaining issues to its purchase of Activision Blizzard Inc. for $69 billion, and the organization is confident enough to get the deal beyond the line.
“We’re working cooperatively with the regulators,” Spencer said in an interview with Bloomberg Television on Wednesday while referring to the regulators of the Competition and Markets Authority of the United Kingdom in Europe and the United States. “We remain confident in the work that we’re doing with the CMA and the European Commission and here with the FTC in the US, that we will close this acquisition.”
The initial objection of the CMA revolves around the tension that the purchase might give Microsoft the power to control the budding yet rapidly growing market dedicated to cloud gaming.
In an offer to ease those issues, Microsoft, in the previous month, signed a deal to provide the French game brand Ubisoft Entertainment S.A cloud streaming permission for accessing Activision games. In a rare step, CMA also decided to reconsider the approval of the transaction, which has set a new target, which is also the 18th of October, for the incipient ruling on the latest probe.
In the interview, Spencer also mentioned that the new Starfield game, which is a product of Xbox’s ZeniMax studio, is under a previewing process for a week and is already the most played game by the company within the recent generation of console titles.