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Microsoft Closes Deal To Buy Call Of Duty Maker Activision Blizzard After Antitrust Fights

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On Friday, Microsoft finalized the $69 billion acquisition of video game developer Activision Blizzard, concluding one of the most costly technology transactions ever and potentially affecting the entire video game industry.

The notification of the transaction’s completion was issued seven hours after Microsoft received ultimate approval from the competition watchdog in Britain. The watchdog had previously reversed its opposition to the merger, thereby eliminating the final barrier to the transaction.

Acquisition of the development studios responsible for critically acclaimed games such as Call of Duty, Diablo, and Overwatch will benefit Microsoft’s Xbox, currently positioned third in sales, trailing only Sony’s PlayStation and Nintendo. Additionally, the software behemoth has ambitious plans to incorporate Activision titles into its multi-game subscription service, which functions similarly to the video game Netflix.

The transaction took nearly 22 months to finalize amid rivalry and government oversight, reflecting apprehensions that Microsoft might exploit its expanding game library to stifle competition. An element of more extensive industry consolidation has caused concern among independent game developers who fear being marginalized as the sector redistributes resources to established blockbuster franchises.

The U.S. Federal Trade Commission opposes it, arguing that Microsoft could create “walled gardens” around its Xbox Game Pass subscription service and the emerging business of streaming games on demand by consolidating a major game publisher. However, after losing a court battle to halt the merger, FTC antitrust enforcers must now wage a difficult battle to undo it.

“The FTC continues to believe that this transaction poses a threat to competition,” Victoria Graham, a spokesperson for the FTC, stated on Friday.

Microsoft has consistently advocated for the agreement, asserting that it intended to expand the accessibility of Activision games across multiple platforms rather than prevent rival console manufacturers from obtaining those games.

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Microsoft Closes Deal To Buy Call Of Duty Maker Activision Blizzard After Antitrust Fights.

Phil Spencer, CEO of Microsoft’s Xbox division, said in a statement on Friday, “Whether you play on Xbox, PlayStation, Nintendo, PC, or mobile, you are welcome here – and will remain welcome, even if Xbox isn’t where you play your favourite franchise.”

In a video commemorating the merger, he uploaded clips from video games accompanied by the Broadway musical “Oklahoma!”‘”Oh, What A Beautiful Morning!”

The U.K.’s Competition and Markets Authority granted initial approval for a revised Microsoft proposal last month, with the intention of assuaging concerns that the transaction would negatively impact competition and negatively impact gamers, particularly in the burgeoning cloud gaming sector where players can stream games to their smartphones or tablets instead of purchasing expensive consoles.

“The new agreement will prevent Microsoft from stifling competition in the burgeoning cloud gaming market, ensuring that U.K. cloud gaming customers continue to receive competitive pricing and services,” the watchdog stated.

However, it also considerably shifts the “balance of power” in favor of Microsoft, whose Xbox console has lagged behind PlayStation and Nintendo, according to tech research and advisory firm Omdia senior principal analyst George Jijiashvili.

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He stated that Microsoft “now has a tremendous opportunity to shape the future of the gaming industry.”

Since the transaction was officially declared in January 2022, Microsoft has obtained authorizations from antitrust authorities in over 40 countries. Significantly, it received approval from the 27-member European Union after its concession to permit cloud gaming platforms and consumers to stream its titles without remitting royalties for ten years.

U.S. and British regulators presented the most formidable opposition to the transaction. Sony was also concerned it would restrict access to Call of Duty, Activision’s long-running military shooter series, for PlayStation players.

A court bid by the FTC to halt the transaction so that its in-house judge could assess it was unsuccessful this summer. The FTC has not surrendered, appealing the decision and filing notice of its intention to recommence the trial last month.

Microsoft will sell European cloud streaming rights for all new and current Activision games released within the next 15 years to French game studio Ubisoft Entertainment to obtain U.K. approval.

Although the regulator criticized how the agreement was reached, he cautioned other businesses against adopting Microsoft’s strategy of “insisting on a package of measures that we told them simply wouldn’t work.”

In contrast to the feeble commitments acknowledged by the European Commission, the structural remedy imposed by the U.K. regulator on Microsoft “deserves credit,” according to Max von Thun, director of the Europe office of the Open Markets Institute and an advocate for stricter antitrust enforcement.

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He stated, however, that the British regulator appears “weak and indecisive” due to the back-and-forth.

Until now, the title for the most expensive technology acquisition belonged to computer manufacturer Dell, which acquired data-storage company EMC for approximately $60 billion in 2016. Concurrently, Microsoft completed its largest transaction to date, the $26 billion acquisition of professional networking service LinkedIn.

“Inclusive of Activision Blizzard’s net cash,” Microsoft initially valued the Activision deal at $68.7 billion; however, Microsoft consented to pay $95 in cash per share of the game-maker, bringing the total value closer to $75 billion.

Activision, founded in 1979 by former employees of Atari Inc., has developed or acquired a significant number of the most popular video games, including Guitar Hero, World of Warcraft, and Pitfall in the 1980s. A significant asset of Activision that Microsoft acquired was its King studio, which developed well-known mobile games, including Candy Crush Saga.

Bobby Kotick assumed the role of CEO in 1991, after he collaborated with a business associate in rescuing the company from bankruptcy.

Kotick announced his impending departure on Friday, stating that he remains CEO of the organization that is now a Microsoft subsidiary until 2023, during which time he is “completely committed to assisting with the transition.”

“Our extraordinary teams around the world will gain access to new opportunities and resources as a result of our partnership with Microsoft,” Kotick wrote in a letter to employees.

He is under the supervision of Spencer, who has held the position of CEO of Microsoft’s Xbox division since 2014.

While Sony’s PlayStation continues to dominate the industry, Microsoft has been acquiring game studios in recent years to attract more enthusiasts to Xbox. It acquired ZeniMax Media, the parent company of video game publisher Bethesda Softworks, the developer of Elder Scrolls, Fallout, and the recently released Starfield, for $7.5 billion last year. Microsoft acquired Minecraft, one of the most popular games in the world, in 2014 for $2.5 billion from Swedish developer Mojang.

Rivals have also acquired larger game libraries through acquisitions; Sony acquired Bellevue, Washington-based independent game publisher Bungie Inc. for $3.6 billion last year, venturing near Microsoft’s headquarters.

SOURCE – (AP)

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Boeing’s Lawyers Come To Court To Face Relatives Of The Passengers Who Died In Boeing Max Crashes

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FORT WORTH, Texas — Relatives of some of the 346 people killed in two crashes involving Boeing 737 Max planes are in court Friday, asking a federal judge to overturn a plea agreement reached between the aircraft manufacturer and federal prosecutors.

The family members want the government to bring Boeing to trial, where the firm might face harsher penalties.

In July, Boeing agreed to plead guilty to one felony count of conspiracy to commit fraud in connection with the Max’s regulatory clearance. Boeing, a major federal contractor, will pay a fine and serve a probationary period under the terms of the deal with the Justice Department.

Passengers’ relatives call it a sweetheart bargain that ignores the lives lost.

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“The families who lost loved ones in the 737 Max crashes deserve far more than the inadequate, superficial deal struck between Boeing and the Department of Justice,” said Erin Applebaum, a lawyer who represents some of the families. “They deserve a transparent legal process that truly holds Boeing accountable for its actions.”

Boeing’s Lawyers Come To Court To Face Relatives Of The Passengers Who Died In Boeing Max Crashes

Lawyers for the government and the company filed court briefs defending the settlement, while attorneys for the passengers’ families stated their disagreement with the agreement. During Friday’s hearing in Fort Worth, Texas, US District Judge Reed O’Connor will have the opportunity to interview both parties.

If the court accepts the guilty plea, he must also adopt the sentence that Boeing and prosecutors agreed on; he cannot impose different conditions. It is unknown when O’Connor will rule on the subject.

Boeing has been accused of deceiving authorities by approving minimal, computer-based training for Boeing 737 pilots before they could fly the Max. Boeing tried to avoid regulators from demanding flight simulator training, which would have increased the cost for airlines to operate the plane.

The Justice Department contends that conspiracy to deceive the government is the most serious charge it can establish. Prosecutors believe they cannot show that Boeing’s conduct caused the crashes in Indonesia in 2018 and Ethiopia in 2019.

The agreement requires Boeing, based in Arlington, Virginia, to pay a minimum punishment of $243.6 million, invest $455 million in compliance and safety measures, and serve a three-year probation period.

The case is just one of several concerns with which the firm is currently dealing.

boeing

Boeing’s Lawyers Come To Court To Face Relatives Of The Passengers Who Died In Boeing Max Crashes

This week, negotiations fell down between striking manufacturing workers who construct some of the company’s best-selling planes. The company retracted its offer, and S&P Global Ratings added it to its credit watch list, citing elevated financial risk due to worker unrest.

On Thursday, the company filed a complaint with the International Association of Machinists and Aerospace Workers, alleging unfair labor practices. Boeing complained to the National Labor Relations Board that the union’s public narrative was misleading and made reaching a resolution difficult.

SOURCE | AP

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Uber And Lyft Stock Prices Surge After Telsa’s “Toothless” Robotaxi Revelation.

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(VOR News) – On Friday, the electric vehicle manufacturer Tesla made the Uber news that had been anticipated for a long time about the robotaxi.

As a consequence, the stocks of ride-hailing app businesses Uber (UBER) and Lyft (LYFT) simultaneously increased, while the stock of Tesla experienced a decline.

The highly anticipated prototype of the robot axi that Tesla (TSLA-8.23%) has been working on was officially presented to the public by Elon Musk, the Chief Executive Officer of Tesla (TSLA-8.23%), during the evening of Thursday. The preliminary version of the product is referred to as “Cybercab.”

A lot of investors, on the other hand, were left with the idea that the event did not excite them or leave them feeling impressed. In addition to the fact that made a great deal of lofty Musk remarks, analysts pointed out that there was a lack of concrete information presented. In addition to this, they brought out the fact that there was an absence of specific details.

In the early morning hours of Friday, shares of Uber and Lyft both increased by 10 percent, while shares of Tesla fell by more than eight percent.

This Uber happened as a result of investors’ responses.

It is anticipated that the Cybercab will be the first vehicle that Tesla makes that is capable of performing driving responsibilities that are entirely automated.

There is a great deal of anticipation among fans about this aspect. There is still a need for a driver in Tesla automobiles, despite the fact that the company has software that gives help for autonomous driving. Despite the fact that the company develops software for autonomous driving, this is also the case.

Musk’s only comment regarding the Cybercab was that production will “probably” begin in 2026 or “before 2027.” This was the only thing he could say by himself. He was only able to supply this one indication out of all the others.

It was not possible for Musk to provide a definitive answer to the production date of the automobile. It is now anticipated that the price of the automobile will be lower than thirty thousand dollars. This is the current estimate.

When asked about his proposal for a network of robot vehicles, the CEO had earlier framed his notion of a robot-axi network as a combination of Uber and Airbnb.

If you are interested in learning more about his plan, go here. Through the process of connecting their automobiles to the infrastructure of this network, owners would have the option to make cash even while they were sleeping.

He went so far as to extend an invitation to everyone, particularly drivers for Uber and Lyft, to investigate the prospect of purchasing a significant number of Cybercab drivers together on Thursday.

He did this even though he wasn’t a member of Uber or any other companies.

Despite this, there were investors who did not have a positive attitude toward the possibility. In addition to stating that it was the best-case scenario for Uber, the Cybercab was described as “toothless” by someone who was educated about the subject.

John Colantuoni, an analyst at Jefferies, made this assertion in a client note that was sent out on Friday. The note was circulated to clients. He concluded by writing, “We consider the event to be a best-case outcome for Uber, given that Tesla did not provide verifiable evidence of progress toward (Level 3 autonomous driving) or quantify the number of robots planned.”

Given that investors are now allowed to concentrate on fundamentals, we think that Uber will respond favorably to this development. This is what we anticipate will happen.

SOURCE: QZ

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AT&T Is Offering a $10,000 Reward For Information Regarding Copper Wire Theft.

 

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AT&T Is Offering a $10,000 Reward For Information Regarding Copper Wire Theft.

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(VOR News) – AT&T, a multinational telecommunications firm with its headquarters in Dallas, is offering a reward of $10,000 for information that leads to the suspect’s location.

For information that leads to an arrest or conviction for the theft of copper cable or the attempted sale of stolen copper cable in the Dallas-Fort Worth area and the adjacent areas, the reward is for “specific and detailed” information that leads to an arrest or conviction.

Because it is not only time-consuming but also expensive to AT&T replace copper cable that has been stolen, the company claims that the issue has become a major concern for the operations of the company.

This is due to the fact that theft of copper cable leads to replacement of the cable. It was established that there was a connection between the theft of copper and an AT&T service outage that occurred in South Dallas earlier this year. The information was gathered through an investigation.

“Theft and vandalism of critical communications infrastructure are serious matters that affect public safety and the community at large,” said Michael Peterson, Assistant Vice President of AT&T Texas, in a release.

“These incidents have a significant impact on the community as a whole for AT&T.”

“These incidents have a significant impact on the community as a whole.” “These incidents have a significant impact on the community as a whole.”

To conduct investigations into any potential occurrences that may take place, we are collaborating closely with law enforcement to carry out these investigations. This is being done in order to ensure that we will continue to provide services that are of the best possible satisfaction to our customers.

In order to notify the community about an incident that occurred during the month of August, the Garland Police Department made use of social media in order to disseminate information about the occurrence. There were two people involved in the crime, and they were captured on film stealing copper wire while they were claiming to be utility personnel. The theft was caught on film.

You should under no circumstances let your guard down! Robbers that steal copper are active both during the day and at night, as stated in a post that was made on X by the Garland Police Department regarding copper theft.

As mentioned in the news release, AT&T is currently working with local authorities in order to provide an explanation of the situation, as well as to investigate and try to find a solution to the problem. A threat to important infrastructure that is necessary for the delivery of basic services is posed by copper theft, as stated by Tennell Atkins.

AT&T is serving as the mayor of Dallas.

Additionally, AT&T communities are left susceptible in the event of natural disasters as a result of copper theft, which is another downside of copper theft.

This significant problem, which is a worry for the entire population, has an effect on each and every individual. Taking this into consideration, it is of the utmost importance that we collaborate and raise awareness in order to put an end to those who are responsible,” Atkins stated in the press statement concerning the situation.

Members of the general public are being asked to report any vehicles or persons that are not marked and are cutting or removing wires. AT&T is urging that this information be reported. Quick reporting of any and all incidents is required.

In the event that you phone the local police enforcement or AT&T Global Security & Investigations at the number (800) 807-4205, you have the choice of remaining anonymous while providing information regarding the incident.

This is the case even if you are providing information about the incident. Up until the first of November in the year 2025, it is possible to provide the award for consideration.

A survey that was published by WIRED earlier this year indicates that theft of metal is on the rise, with an increasing number of occurrences being reported. It was established in the essay that there is a connection between criminal activities and the increase in the price of metals all over the world.

The price of copper has increased by around thirty percent over the course of the past five years in comparison to what it was five years ago.

Over the course of the past two years, it has been estimated that around 184 miles of electrical wiring from streetlights has been missing across the city of Las Vegas and the metropolitan areas that surround it. This is a significant amount of missing wiring.

SOURCE: TDMN

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JPMorgan’s Wall Street Performance Is Good, But Its Profits Are Down 2%.

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