Overview

• The Ninth Circuit Court of Appeals unanimously ruled that the FTC failed to prove the merger would harm competition in gaming markets.
• The court found no evidence that Microsoft would make Activision titles, such as Call of Duty, exclusive or degrade their quality on rival platforms.
• The acquisition, finalized in October 2023, remains the largest deal in gaming history and was approved after regulatory reviews in the U.S. and U.K.
• Microsoft has committed to keeping Call of Duty available on rival platforms for at least ten years, addressing exclusivity concerns.
• An internal FTC administrative proceeding is still pending, but leadership changes suggest further enforcement is unlikely.