Bloomberg Technology
The M&A Climate After Microsoft-Activision Deal
Former acting FTC Chair Maureen Ohlhausen discusses the Microsoft-Activision deal, the FTC’s appeal, the UK review of the deal as well as FTC Chair Lina Khan’s incendiary hearing in the US House of Representatives this week. She joins Caroline Hyde on “Bloomberg Technology.” ——– Like this video? Subscribe to Bloomberg Technology on YouTube: Watch the…
Eric Synchrona
July 14, 2023 at 3:29 pm
When she says it’s Commonlaw in the US, she means it’s a British Written Law for Americans.
Benjamin Sliter
July 14, 2023 at 4:12 pm
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rub tyson
July 14, 2023 at 4:16 pm
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Luca Gheorghe
July 14, 2023 at 4:17 pm
@OSAGIE JOHN he is a popular broker, I can correctly say he’s worth his salt as a financial advisor as his diversification skills are top notch, because i see that in his results as my portfolio grows by averages of 10 to 15% on a monthly basis, unlike i can say for my IRA which has just been trudging along, my portfolio just mirrors what he trades and not just on some particular industries of my choosing
XIHaveNoNameTagX
July 14, 2023 at 5:59 pm
FTC don’t have the government support because the FTC is defending the market leader in the gaming industry, instead of defending consumers which is their actual job.
Joypad Bandit
July 14, 2023 at 7:45 pm
@Alex ander The REALITY is that PC Gaming is NOT Console Gaming…. *Sigh* ….Yes, even if you think that it’s not “Fair” that Microsoft basically has a champion grip on PC Gaming via their OS. 😑
Maybe Sony shouldn’t have f*cked around and found out?🤔😆
Alex ander
July 14, 2023 at 8:49 pm
@XIHaveNoNameTagX I know what I’m talking about, been a Linux and Mac user for decades and I was here in the 90s when the U.S. government sued Microsoft for trying to monopolize the personal computer market for many reasons actually. These are all facts, no imaginations. Proton is there and available, so what? That’s a) not natively and b) its user base still only accounts for under 2 % of the overall pc gaming market and c) is only a recent development / effort made by Valve in order to break said gaming operating system monopoly. Even Valve has been harshly critical in the past when it comes to Microsoft, their Xbox brand and their digital store. Yes, Windows is an operating system, and that’s exactly what I was talking about. On the operating system front, Microsoft holds the dominance over the competition, which is Linux and Mac, which in turn results in a higher user base and more profit for their entire eco system. The matter of the fact is that the vast majority of users have been using Windows for their PC gaming needs, which is now even more tightly coupled to their Xbox brand, and that’s not fair to the competition nor the market we’re talking about right now. Freedom of choice should include giving users an equal level of support and service accross many os plattforms, not just one.
Alex ander
July 14, 2023 at 8:50 pm
@Joypad Bandit I am aware of the fact that PC gaming is not console gaming, for the most part that is, but these two are linked together closer than you might actually realise, especially on Microsofts front with Xbox (DirectX Box = Windows API) and the likes.
Alex ander
July 14, 2023 at 8:52 pm
@yikers No.
ImTryingHere
July 14, 2023 at 8:52 pm
@XIHaveNoNameTagX what a ridiculous argument claiming Linux is available as an OS. Dumbest thing I’ve seen about this entire fiasco since it was announced
Surip To
July 14, 2023 at 6:03 pm
FTC, For The Cock 😂
Stuart Holloway
July 14, 2023 at 6:18 pm
By boundaries she means outside logical conclusions.
FLCLimaxxx
July 14, 2023 at 6:19 pm
the case was very stupid. regardless of what you think you know, Sony is actually the company guilty of monopoly power and anti-customer harm. they have whole games they pay devs to only put on their system, ever. and to explicitly, never offer on xbox. they have content for major games like call of duty and hogwarts legacy only on playstation. the japanese market for high end console gaming is entirely owned by Sony. sony refuses to compete on brand power like nintendo(any game you think is a “sony” game is just a third party and the main character probably appears in super smash bros on the Switch) and they can’t compete on platform as their service is much more antiquated and predatory than XBL. they also spend a marvel blockbuster budget on their few and far between in house games and lose money on them, hence relying on the cash from their exclusive deals with the likes of activision. microsoft putting the game and any bonus content on all platforms is a boon to consumers. the FTC is trying to push dogma and a foolish agenda then try and work backwards to legalize their findings. in this case above all others it was clear they knew nothing at all involved besides microsoft’s market cap.
as usual, academics think they need no real world knowledge or experience. but this case actually now makes true bad mergers much harder to fight. why can’t this woman think ahead?
FLCLimaxxx
July 14, 2023 at 8:15 pm
@Alex ander hoo boy another reality denier. “Microsoft blah blah pc monopoly” and yet the scrappy underdog Apple is THE MOST PROFITABLE, BIGGEST, RICHEST COMPANY IN THE HISTORY OF HUMANITY, beyond Microsoft AND they got richer this year.
Why is that? The monopoly choked them out? Steam Deck has already visibly increased the market share of Linux PC gaming as well.
Batz130
July 14, 2023 at 8:16 pm
You sir said a mouthful and told no lies. Got my vote for mayor.💚👍🏾💯
Dairee Dave Molato
July 14, 2023 at 8:41 pm
@Alex ander Sony’s anime distribution and music says Hi to you lmfao
Alex ander
July 14, 2023 at 8:42 pm
@GamerMickey1928 I know what I’m talking about, been a Linux and Mac user for decades and I was here in the 90s when the U.S. government sued Microsoft for trying to monopolize the personal computer market for many reasons actually. These are all facts, no imaginations. Proton is there and available, so what? That’s a) not natively and b) its user base still only accounts for under 2 % of the overall pc gaming market and c) is only a recent development / effort made by Valve in order to break said gaming operating system monopoly. Even Valve has been harshly critical in the past when it comes to Microsoft, their Xbox brand and their digital store. Yes, Windows is an operating system, and that’s exactly what I was talking about. On the operating system front, Microsoft holds the dominance over the competition, which is Linux and Mac, which in turn results in a higher user base and more profit for their entire eco system. The matter of the fact is that the vast majority of users have been using Windows for their PC gaming needs, which is now even more tightly coupled to their Xbox brand, and that’s not fair to the competition nor the market we’re talking about right now. Freedom of choice should include giving users an equal level of support and service accross many os plattforms, not just one.
Alex ander
July 14, 2023 at 8:44 pm
@Dairee Dave Molato If they hold the monopoly in this case, then it should be looked into. What, you think I’m only saying this exclusively to Microsoft? What I said goes for everyone, including Sony.
Technodrone313
July 14, 2023 at 6:19 pm
ask any gamer about activision in its current state.
javier rodriguez lopez
July 14, 2023 at 6:39 pm
Did the interviewer look at what congress said to the FTC leader? Congress is not OK with the FTC being this aggressive with mergers.
Ernie Gutierrez
July 14, 2023 at 6:48 pm
She works in the media (especially Bloomberg)… they’re more clueless than anyone.
Ernie Gutierrez
July 14, 2023 at 6:43 pm
Lina Khan must step down… she’s protecting foreign corporations. UK has been a complete joke ever since Brexit
MrHeretrix
July 14, 2023 at 6:49 pm
That was the nicest way to say, “She made her choice and it wasn’t a good one.”
Mike Verners
July 14, 2023 at 6:53 pm
At first i wanted xbox to lose now i hope microsoft buys sony one day. This is outrageous..
Wil Wells
July 14, 2023 at 7:08 pm
The FTC is so in the wrong here and it’s pretty gross how willing they are to represent a Japanese companies’ best interests over two American companies that will be bettered by this deal. And with that will still not even come close to the market share Sony and Nintendo have. There’s some crazy lobbying and corruption that would seemingly need to be happening for them to push so hard against something that will 100% benefit consumers and increase competitiveness in the market.
Alex ander
July 14, 2023 at 7:32 pm
Microsoft has the absolute and undeniable lead / monopoly in the PC gaming market with their operating system Windows, which holds numbers in the billions (both Mac and Linux are around 3% by comparison). During this entire discussion it was agreed on that PC gaming plays a vital role and is in the same ballpark as consoles. So how about we check that out next?
DEEiBe
July 14, 2023 at 7:43 pm
lol what???? Microsoft isn’t even close to the leader in the PC gaming market. You’re just pulling stuff out of your ass with that statement.
GamerMickey1928
July 14, 2023 at 7:45 pm
Windows is an Operating System, not a game. I think you might find that Valve would take issue with your statement, as they own Steam.
Alex ander
July 14, 2023 at 8:45 pm
@ghilesfreeman I know what I’m talking about, been a Linux and Mac user for decades and I was here in the 90s when the U.S. government sued Microsoft for trying to monopolize the personal computer market for many reasons actually. These are all facts, no imaginations. Proton is there and available, so what? That’s a) not natively and b) its user base still only accounts for under 2 % of the overall pc gaming market and c) is only a recent development / effort made by Valve in order to break said gaming operating system monopoly. Even Valve has been harshly critical in the past when it comes to Microsoft, their Xbox brand and their digital store. Yes, Windows is an operating system, and that’s exactly what I was talking about. On the operating system front, Microsoft holds the dominance over the competition, which is Linux and Mac, which in turn results in a higher user base and more profit for their entire eco system. The matter of the fact is that the vast majority of users have been using Windows for their PC gaming needs, which is now even more tightly coupled to their Xbox brand, and that’s not fair to the competition nor the market we’re talking about right now. Freedom of choice should include giving users an equal level of support and service accross many os plattforms, not just one.
Alex ander
July 14, 2023 at 8:46 pm
@GamerMickey1928 Valve themselves have been highly critical in the past when it comes to Windows, the MS store and more. That might have changed in recent years, but the argument still stands imo. See comment above for more info.
midibenni
July 14, 2023 at 9:32 pm
that gaming windows market is 5% compare to that compu units mobile market. 95% android 5 % windows ppl. gaming today.
isnt android a linux distru?
Invalid Sin
July 14, 2023 at 10:30 pm
You keep recycling the same shit like if anybody here gives a shit about your hurt ass. Go play Final Fantasy 16.
Alex ander
July 14, 2023 at 10:57 pm
@midibenni @midibenni No, even though Android is powered by the Linux kernel as well, it’s not being used as a pc distro / os for gaming on the x86 / x64 based pc desktop in a widespread or intentional manner. Mobile versus console / pc are entirely different markets with different use cases and different types of games altogether. Do you see triple A console / pc games like Witcher 3, Baldur’s Gate 3, Last of Us and more releasing on mobile? Usually both consoles and pc share the same type or even identical game ports, not so on mobile. But to be honest, I wouldn’t be against evening out the playfield in the mobile sector in order to allow other alternatives to flourish alongside Android and iOS, be it Windows or anything else. Ideally something not based in the US would be a nice change of pace for once since most of the mainstream IT we use today is coming from the US, which in turn is subjective to US laws, politics, surveillance (Snowden), privacy related concerns, patents, licensing, media and more. You have a point: Freedom of choice applies here too, not just console and pc gaming.
Ave Dinamling
July 14, 2023 at 11:31 pm
Blah blah blah. Cry me a river sony famboi. Try harder at keeping yo salty tears conceived.
Donkens
July 14, 2023 at 8:03 pm
FTC mentioned sony most of the time which was their mistake, which made it clear, they are speaking on behalf of sony, while there is nintendo there aswell.
Psyko Robot
July 14, 2023 at 11:11 pm
It wasn’t a mistake it was their only course of action with any bite (even if the bite was toothless).
Marcus K
July 14, 2023 at 8:16 pm
The FTC is trying to rein in the power of the oversized big tech companies that dominate the wider tech industry. The problem is that U.S. competition law is ancient and predates the modern digital era by a century. The FTC, quite obviously, is not pro-Sony or pro-Nintendo – why on earth would they be? The video games business just happens to be one of the places in which smaller companies like Sony and Nintendo are so far still able to compete with big tech, although the fast pace and large scale of Microsoft’s acquisitions is putting the long-term viability of that ability to compete into question.
HotSizzleTV
July 14, 2023 at 8:32 pm
This is a a horrible day for consumers and gamers. Neither Sony or Microsoft should own abk
Dave Forsyth
July 14, 2023 at 10:14 pm
I think this is the best thing to happen for gamers in a long time……..
Invalid Sin
July 14, 2023 at 10:28 pm
Hold this “L” for me…
Ave Dinamling
July 14, 2023 at 11:29 pm
Lol. Don’t speak for all gamers and consumer. You speaking as a sony famboi.
1, this will be good for gamers as Activision and titles will now playable on other platforms (nintendo/cloud)
2, this is good for consumers bec people can now play these games at low cost of entry (gamepass and cloud subscription)
Dipster021
July 14, 2023 at 11:33 pm
It’s only bad for Sony because they don’t want to sign the 10yr deal.
Rene Reyes
July 15, 2023 at 12:11 pm
@Ave Dinamlingit’s not good for gamers it’s only good for you cheap XBOTs who were fooled into paying a monthly subscription to rent games. Not every one wants to subscribe to Gamepass or any other subscription that you don’t own games XBOX has done nothing but scammed it’s way into the gaming market since day one neither Sony nor Nintendo used to force players to pay to play the games they purchased online till recent years, it was XBOX who had timed exclusive in the 360 era with harsh NDAs so people would not no those games were coming to other consoles, SMMFH if you think anything they do is for the gamers
Bammer Jammer
July 14, 2023 at 8:38 pm
Rip cod
Rene Reyes
July 15, 2023 at 12:14 pm
CoD was already dead according to alot of fans this will be the final nail in the coffin. Sony should commission Guerrilla games to start working on a new Killzone and have Bungie help.
Bammer Jammer
July 15, 2023 at 12:33 pm
@Rene Reyes why not a new ip rumor has it they already working on it
Duser Miginte
July 16, 2023 at 8:58 am
@Rene Reyessony can only make remakes and remasters now anyway so that may fit..
They cant afford to make any new ip now.. 😂
I hate English
July 14, 2023 at 10:22 pm
Please, protect MY playstation 🙏
Ave Dinamling
July 14, 2023 at 11:25 pm
Don’t worry. Someday you’ll own both.
Rev. Maillet
July 14, 2023 at 10:29 pm
Tencent and Embracer own more dev companies separately than MS will when they aquire ATBK
Psyko Robot
July 14, 2023 at 11:22 pm
Embracer, yes.. They own over 100 studios. Tencent, No! They have (full ownership) of around 10 studios (like Sumo, Riot). Tencent has a lot of investments in studios, publishers and other gaming entities at various levels. Most investments aren’t even a majority share (i.e. 40% in Epic, 16% in Ubisoft, FromSoftware around 16.5%, Supercell 89% and so on)
Kat Miller
July 15, 2023 at 11:01 am
@Psyko Robotomg they own Riot no way dang I always thought riot was an American company
Ave Dinamling
July 14, 2023 at 11:23 pm
FTC failed to not prove that their case is only protecting Sony (the market leader) instead of the competition and the consumers.
Mt. Baldwin
July 14, 2023 at 11:29 pm
The FTC was so incompetent it’s alarming. They had to be reminded, by the judge(!), that their duty was to protect consumers and not the market leader Sony. The FTC mentioned Sony %70 of the time and consumers only %30 of the time in who would be harmed. Finally the FTC tried to extract concessions from Microsoft on Sony behalf, outrageous enough but the actual concession was for MS to make a Playstation version of ABK games even if Sony didn’t want them! WTF!?
Yes these are the “compelling” arguments the FTC put forward, which boiled down to “It’s not good for the market leader!”
Vice Gaming
July 15, 2023 at 1:38 am
Push the boundaries with another counties tax money. Fuck that shit. Im not working 60 plus hours a week to support this shit.
Toxic Cat
July 15, 2023 at 2:14 am
The FTC would’ve had a slightly better case if they weren’t blatantly defending another corporation who is the market leader from competition in a super competitive market. They claim that what Microsoft doing is illegal yet failed to argue why.
LydianMaster
July 15, 2023 at 2:42 am
Who is this UK interviewer? Your way (CMA) is obviously garbage, and the FTC over here was laughed out of our own courts because they are run by ideologues instead of professionals looking out for consumers (FTC’s mission)
DeusCriolo
July 15, 2023 at 2:52 am
FTC is a joke 😂
The Explorer
July 15, 2023 at 4:25 am
The FTC suppose to protect the consumers, Not Sony.
Rene Reyes
July 15, 2023 at 12:04 pm
No they are supposed to ensure the market is free and FAIR the absolutely can defend a company from it’s rival if it’s rival is conducting anti trust/competitive actions.
Duser Miginte
July 16, 2023 at 8:55 am
@Rene Reyesthats even worse because thats what sony been doing..
Matthew Hardwick
July 15, 2023 at 4:34 am
Microsoft didn’t even break a sweat throughout all of this. They were confident of getting this deal done since day 1. Can’t argue with the facts
Nadeem B
July 15, 2023 at 5:53 am
The FTC built their entire case around how the Microsoft/ABK merger would affect Sony, not the consumer. The judge basically had to remind the FTC that the case was about the consumer.
Rene Reyes
July 15, 2023 at 11:58 am
The Judge is actually wrong the FTCs job is to protect the market yet you XBOTS allowed Microsoft into making you believe the FTC was this big bad out to get little Microsoft when they’re one of the most anti competitive companies out there.
𝟚ℙ𝔸ℂ
July 15, 2023 at 6:13 am
my favorite part of all this stuff was how Phil and his team fooled every Xbox user and other gamers into thinking the FTC isn’t for consumers and doesn’t work to protect industry above all. All of sudden they were corrupt or working for a foreign entity (sic) Sony. it was amazing to see the level of stupidity. everyone became an expert as well. What did Sony do that was “unfair”? Is this where we pretend Microsoft hasn’t done dozens of exclusives over the last two decades?
The FTC’s job is to make sure corporations compete fairly. Sony is Microsoft’s only competitor for activision games on consoles so of course the FTC is going to argue it is harmful for Microsoft’s only competitor because again their job is to protect against anti-competitive behavior. And what Microsoft is doing, using their trillions of dollars to buy up massive parts of the industry with massive multiplatform publishers is the definition of anti-competitive . Do you think the only way Microsoft could compete was to acquire massive publishers?
How were Sony and Nintendo able to compete without doing such things?
David Alfonso
July 15, 2023 at 10:14 am
The FTC was constantly protecting Sony and the PlayStation brand over consumers, the judge had to remind the FTC to stop worrying about Sony and to remember that this was about the consumers the FTC is a joke under Lena Khan. I’m happy Xbox won the deal makes sense and it’s pro consumer, the only people who are against this are Sony fanboys and delucional democrats.
Lmao
July 15, 2023 at 10:27 am
The FTC lost because they had no case to begin with.
Daniel Link
July 15, 2023 at 10:35 am
really your going to act like the cma did it better. they had to come crawling to Microsoft. so to act like the cma got it right is funny. shot i would say cma looks just as bad or worse then the ftc
Dovan Blake
July 15, 2023 at 11:22 am
The Head of the FTC is fool hearty and is not in her right mind.
Steven
July 15, 2023 at 11:49 am
Sitting here baffled about what the FTC thought what they where doing. It was so obvious a lost case for them from the beginning. They wasted taxpayers money and should be held accounted for that.
Duser Miginte
July 16, 2023 at 8:53 am
LinaKhan should be fired soon enough.
David n L
July 16, 2023 at 9:51 am
So the FTC have their own agenda taking on big corporate companies rather than protecting the very people they were meant to protect – the consumer.
Richard Gresham
July 16, 2023 at 5:53 pm
The FTC and the CMA are both major jokes and they both need to be under investigation. They both need to be torn apart and put it back together to something that’s actually good for the countries instead of what they are now they stop so many good companies from buying other companies that will actually make a big difference in this world and do a lot of good, but they don’t care because usually they’re trying to just both protect Japan, which is been happening for the last five years now and they need to be accountable for it. They’ve declined so many companies that had evidence that it was good for everybody and the FTC and the CMA. Both had no evidence at all and no case but they still blocked but the problem is some of these companies just don’t have the money and the resources like Microsoft does.
So this was a good thing that all this happened because it can actually make some good change happened to the FTC and the CMA and they all get what they deserve and Sony for being a monopoly