Video Gamers Prosecuted Microsoft Over Activision Deal Citing Antitrust Elements - Microsoft (NASDAQ:MSFT), Activision Blizzard (NASDAQ:ATVI)

  • A private consumer lawsuit alleged Microsoft Corp MSFT – Activision Blizzard, Inc ATVI deal of unlawfully stifling competition in the video game industry.
  • The California federal court lawsuit followed the U.S. Federal Trade Commission suit seeking to stop Microsoft, owner of the Xbox console, from completing the largest-ever acquisition in the video-gaming market, Reuters reports.
  • The private lawsuit on behalf of 10 video game players in California, New Mexico, and New Jersey also sought an order blocking Microsoft from acquiring Activision. 
  • The proposed deal would give Microsoft far-outsized market power in the video game industry, the complaint alleged, with the ability to foreclose rivals, limit output, reduce consumer choice, raise prices, and further inhibit competition.
  • The takeover also faced antitrust scrutiny in the European Union to stop Microsoft from gaining control over a leading independent game studio.
  • The EU alleged the deal of harming competition among rival gaming platforms from Nintendo Co, Ltd NTDOF NTDOY and Sony Group Corp SONY
  • Price Action: MSFT shares traded higher by 0.41% at $242.79 premarket on the last check Wednesday.



Image and article originally from www.benzinga.com. Read the original article here.