FTC Boss Reacts To Politician's Questions About Microsoft Deal To Buy Activision Blizzard
Microsoft is in the process of attempting to acquire Activision Blizzard in one of the biggest acquisitions in history. At $68.7 billion, it's not just the biggest video game acquisition; it's one of the largest of any kind across all business sectors. As such, the deal is facing regulatory scrutiny, including a lawsuit from the United States government's Federal Trade Commission.
FTC chair Lina Khan was questioned by the Committee on Energy and Commerce this week, where she faced a question about Microsoft's proposed buyout of the Call of Duty company. Khan was not able to speak directly about the deal because it's in the midst of administrative proceedings, she said. As such, she said she would let the FTC's official complaint speak for itself. That being said, Khan was able to share some high-level thoughts on what the FTC's goal is.
Representative Diana Harshbarger, a Republican from Tennessee who signed a resolution to impeach President Joe Biden and voted to overturn election results from Donald Trump's second presidency bid, asked Khan if it's true that competition law is not supposed to protect an industry's dominant player. Khan agreed. Harshbarger then asked why--in her belief--the FTC is taking action to protect Sony, which is one of the loudest opponents of Microsoft's bid to buy Activision Blizzard.
Khan said it's true that the FTC solicits feedback from all types of market participants, including «big players.» But in the end, the FTC tries its cases on the rule of law, Khan said.
«This case has also been voted out and is in administrative proceedings, so I'll let the complaint speak for itself,» Khan said. «I will say as a general matter, we always really benefit from hearing market participants across the
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