The daily business briefing: May 16, 2023

EU regulators approve Microsoft's $69 billion Activision Blizzard deal, stock futures slip as Biden and congressional leaders head into debt-limit meeting, and more

An Activision Blizzard logo on a phone
The EU's antitrust watchdog approved Microsoft's bid to buy Activision Blizzard, but the purchase faces challenges in the U.K. and U.S.
(Image credit: Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)

1. EU regulators approve Microsoft's $69 billion Activision Blizzard deal

The European Commission, the European Union's antitrust watchdog, on Monday approved Microsoft's $69 billion bid to buy video game company Activision Blizzard. EU officials signed off after Microsoft, which makes the Xbox gaming console, offered concessions guaranteeing rivals would still have access to Activision games, including "Call of Duty" and other popular titles. Microsoft still faces an uphill battle to complete what would be the largest consumer tech deal in two decades. The acquisition has hit regulatory roadblocks in the United Kingdom and the United States in recent months. The U.S. Federal Trade Commission has sued to block the purchase, arguing it would hurt competition. An August hearing is scheduled in administrative court.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.