Microsoft’s acquisition of Activision Blizzard: What’s going on and what happens next?

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Microsoft’s proposed $70bn acquisition of Activision Blizzard is currently being scrutinised by regulators around the world.

The regulation process is complicated, and involves various different bodies from different countries that must look at the deal before it can go ahead.

Here’s everything you need to know about what’s going on, and where the key issues lie.

This deal is -- to use a professional business term -- massive. It's a potentially game-changing deal that could not just transform things for Microsoft and Xbox, but the entire games industry. It has the potential to impact everyone, from the smallest indie developer to the biggest names in the business, and, of course, consumers.

"This deal has the potential to impact everyone, from the smallest indie developer to the big gaming giants"

Regulatory bodies exist to try and make sure such deals don’t result in any antitrust issues, where one company can become overly dominant, or competition is harmed in such a way that it could lead to fewer choices, higher prices and/or less innovation.

Considering the scale and size of the deal, Microsoft would have to obtain antitrust approval before taking ownership of Activision Blizzard.

There are regulatory bodies all over the world, but there are three main ones that Microsoft will want approval from to complete the buy-out. The first is the US regulator the Federal Trade Commission (FTC). This review went through two phases of in-depth investigation, before the FTC issued a lawsuit on December 8, 2022 in an attempt to block the deal.

The next regulator who is currently looking at this is the UK's Competition and Markets Authority (CMA). Phase one