Microsoft's Activision deal blocked by FTC

The Federal Trade Commission (FTC) has reportedly halted Microsoft's $69 billion acquisition of video game maker Activision Blizzard, two months after British regulators attempted to block the purchase. Microsoft and Activision have both appealed the UK regulator's decision, despite facing opposition from contemporaries like Sony and regulators in the US and Europe who are concerned the consolidation would give Microsoft control of the cloud gaming industry and popular game franchises. In response to the UK regulator's decision, Microsoft CEO Brad Smith tweeted that the regulator's decision rejects a pragmatic path to address competition concerns while discouraging technology innovation and investment in the United Kingdom. Cloud gaming enables the streaming of games to tablets, phones and other devices, freeing gamers from buying expensive consoles and gaming computers. The consolidation of the industry is a concern for regulators. In February, Activision CEO Bobby Kotick sounded off on regulators during an appearance on "The Claman Countdown." "I think what we’re experiencing right now are regulators who have very little experience with our industry," he told host Liz Claman. "There’s probably a lot of consolidation that could happen over time, but it’s an extremely fragmented industry, and today the dominant players are Japanese and Chinese companies."