WASHINGTON, D.C. – Microsoft today agreed to buy the video game maker Activision Blizzard for $68.7 billion, its largest takeover ever. Alex Harman, competition policy advocate for Public Citizen, released the following statement.
“Once again, Microsoft, one of the biggest of the Big Tech companies, is shamelessly gobbling up a competitor to try to strengthen its market position. No way should the Federal Trade Commission and the U.S. Department of Justice permit this merger to proceed. If Microsoft wants to bet on the ‘metaverse,’ it should invest in new technology, not swallow up a competitor. Bipartisan legislation pending in the U.S. House and U.S. Senate would prevent exactly this type of merger and should be passed urgently.”