Microsoft CEO Satya Nadella to defend planned takeover of game-maker Activision Blizzard in court

  • 📰 Mynorthwest
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 53%

United States Headlines News

United States Latest News,United States Headlines

Microsoft CEO Satya Nadella is due in court Wednesday to defend the company’s proposed $69 billion takeover of video game maker Activision Blizzard against an attempt by federal regulators to block the deal.

Nadella and Activision Blizzard CEO Bobby Kotick are both scheduled to testify before U.S. District Judge Jacqueline Scott Corley on the fourth day of a court hearing in San Francisco. The proceedings are likely to make or break what would be the most expensive acquisition in technology history.

The U.S. Federal Trade Commission is trying to persuade Corley to issue an order that would prevent the takeover from being consummated before a more extensive administrative trial begins Aug. 2 in Washington. Microsoft is fighting to close the deal ahead of a July 18 deadline that could trigger it having to pay a $3 billion breakup fee to Activision.

“The harm to arises from gamers deserting our platform and going to Xbox,” said Ryan, the CEO of Sony Interactive Entertainment. Even if Microsoft followed through with a pledge to keep the game on PlayStation, Ryan said there could still be “some form of degraded experience for PlayStation gamers.”

Lee’s testimony led the judge to remark Tuesday that “all the testimony has been about Call of Duty in this case,” and to ask whether that might distinguish the acquisition from other game industry deals that have been challenged on similar grounds.

Source: News Formal (newsformal.com)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 438. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Microsoft CEO Satya Nadella set goal of $500 billion in revenue by 2030, court filing showsA court filing released on Monday showed that last year Microsoft CEO Satya Nadella provided a goal for his company's top-line financials through 2030.
Source: CNBC - 🏆 12. / 72 Read more »

Watch the 2023 BET Awards PerformancesIce Spice, Patti LaBelle, Offset with Quavo and more took the stage at the Microsoft Theater.
Source: billboard - 🏆 112. / 63 Read more »

Nancy Pelosi's husband exercises $2.6 million in Apple and Microsoft optionsNancy Pelosi's husband exercises $2.6 million worth of Apple and Microsoft stock options this month
Source: BusinessInsider - 🏆 729. / 51 Read more »

Microsoft considered acquiring Bungie and Sega to bolster Xbox Game Pass, internal emails showMicrosoft’s internal documents reveal gaming targets.
Source: verge - 🏆 94. / 67 Read more »

Snowflake adds partnerships with Nvidia and Microsoft for AI double playSnowflake is partnering with Nvidia Corp. to customize AI models for businesses to keep proprietary data safe.
Source: MarketWatch - 🏆 3. / 97 Read more »

Microsoft sacrificed Xbox Series X sales for “long term ambition” in the cloudMicrosoft sacrificed Xbox Series X sales for 'long term ambition' in the cloud
Source: verge - 🏆 94. / 67 Read more »