Gamers Sue Microsoft , to Stop Activision Takeover.
Gamers Sue Microsoft , to Stop Activision Takeover.
CNN reports that a private consumer lawsuit was filed against Microsoft in the U.S. on Dec.
20.
The complaint alleges that the company's
$69 billion bid to acquire Activision Blizzard will squash competition in the gaming industry.
The complaint alleges that the company's
$69 billion bid to acquire Activision Blizzard will squash competition in the gaming industry.
The U.S. Federal Trade Commission (FTC) filed a similar lawsuit earlier in the month.
If Xbox maker Microsoft is allowed to finalize its deal with 'Call of Duty' maker Activision.
If Xbox maker Microsoft is allowed to finalize its deal with 'Call of Duty' maker Activision.
It would be the largest-ever acquisition
in the gaming market.
It would be the largest-ever acquisition
in the gaming market.
The private complaint alleges that
the deal would give Microsoft , βfar-outsized market power in the video game industry...
with the ability to foreclose rivals, limit output, reduce consumer choice, raise prices, and further inhibit competition.β.
As the video game industry continues to grow and evolve, itβs critical that we protect the market from monopolistic mergers that will harm consumers in the long run, Joseph Saveri, plaintiffs' attorney, via statement.
Microsoft's planned Activision takeover is also subject to antitrust scrutiny in the European Union.
While Microsoft has yet to comment on the newest lawsuit, it did comment on the FTC's complaint.
While Microsoft has yet to comment on the newest lawsuit, it did comment on the FTC's complaint.
We have complete confidence in our case and welcome the opportunity to present our case in court, Brad Smith, Microsoft's president, via statement
Microsoft Makes $1.5 Billion , Investment in Leading , UAE Technology Firm.
Microsoft Makes $1.5 Billion , Investment in Leading , UAE Technology Firm.
'The Independent' reports that Microsoft has announced
a $1.5 billion investment in a leading United Arab
Emirates-based artificial intelligence firm. .
'The Independent' reports that Microsoft has announced
a $1.5 billion investment in a leading United Arab
Emirates-based artificial intelligence firm. .
The deal, overseen by the UAE's powerful national security
adviser, will see Microsoft president Brad Smith join
technology holding company G42's board of directors.
The deal, overseen by the UAE's powerful national security
adviser, will see Microsoft president Brad Smith join
technology holding company G42's board of directors.
The UAE's national security adviser,
Sheikh Tahnoon bin Zayed Al Nahyan, is the
current chairman of G42's board of directors. .
In a statement released on April 16, Microsoft
said the deal βwas developed in close consultation
with both the UAE and U.S. governments.β.
In a statement released on April 16, Microsoft
said the deal βwas developed in close consultation
with both the UAE and U.S. governments.β.
G42, which runs data centers in the Middle East
and elsewhere, has built the world's leading
Arabic-language AI model, Jais. .
According to Microsoft, G42 will move its
AI applications and services over to the U.S.
tech giant's cloud computing platform. .
According to Microsoft, G42 will move its
AI applications and services over to the U.S.
tech giant's cloud computing platform. .
The deal will also look to bring digital infrastructure
to regions that G42 has already established
a presence, including the Middle East and Africa.
'The Independent' reports that G42 previously cut ties with
Chinese hardware suppliers to limit U.S. concerns that
the company was closely tied to the Chinese government.
'The Independent' reports that G42 previously cut ties with
Chinese hardware suppliers to limit U.S. concerns that
the company was closely tied to the Chinese government.
Prior to Microsoft's investment, the company
reportedly faced allegations of spying for its
connection to a mobile phone app identified as spyware.
The tech company also faced accusations
that it gathered genetic material from
U.S. users for the Chinese government. .
The tech company also faced accusations
that it gathered genetic material from
U.S. users for the Chinese government.
Credit: Wibbitz Top Stories Duration: 01:31Published
ConocoPhillips , to Buy Marathon Oil.
ConocoPhillips , to Buy Marathon Oil.
On May 29, ConocoPhillips agreed to
acquire Marathon Oil in an all-stock deal valued at $17 billion, CNBC reports.
The agreement will provide ConocoPhillips with
an additional 2 billion barrels of U.S. inventory.
This acquisition of Marathon Oil further
deepens our portfolio and fits within our
financial framework, adding high-quality,
low cost of supply inventory adjacent to our
leading U.S. unconventional position. , ConocoPhillips CEO Ryan Lance, via statement.
ConocoPhillips' market cap will
exceed $150 billion due to the deal.
As an independent producer, ConocoPhillips will now be on the same scale as some big-time players, CNBC reports.
For example, the company will become larger than BP but still be smaller than Shell, according to Andrew Dittmar, M&A analyst at Enverus.
For example, the company will become larger than BP but still be smaller than Shell, according to Andrew Dittmar, M&A analyst at Enverus.
While the deal is likely to face FTC scrutiny, the fact that Marathon's assets encompass multiple basins supports regulatory approval, Dittmar said. .
Once the deal is complete,
ConocoPhillips anticipates share buybacks worth $7 billion within the first year.
After three years, that number is
expected to grow to $20 billion.
ConocoPhillips' larger rivals,
Exxon Mobil and Chevron, announced
blockbuster deals as well last year.
ConocoPhillips' larger rivals,
Exxon Mobil and Chevron, announced
blockbuster deals as well last year
Credit: Wibbitz Top Stories Duration: 01:31Published
FTC to Decide , Whether Noncompete Agreements , Should Be Banned.
After receiving over 26,000 public comments about the issue, the Federal Trade Commission is set to deliver its verdict on April 30, NPR reports. .
The commission said that if approved, the
final rule "would generally prevent most
employers from using noncompete clauses.".
The commission said that if approved, the
final rule "would generally prevent most
employers from using noncompete clauses.".
Approximately one in five Americans, spanning minimum wage workers to CEOs, are subject to noncompete agreements, the FTC estimates. .
The Biden administration says that these types of agreements hurt workers by decreasing wages.
The White House also argues that these
agreements harm the U.S. economy because entrepreneurship isn't allowed to freely flourish. .
FTC Chair Lina M. Khan issued a statement when
the proposed ban was initially introduced.
The freedom to change jobs is
core to economic liberty and to
a competitive, thriving economy, FTC Chair Lina M. Khan, via statement.
Noncompetes block workers from
freely switching jobs, depriving
them of higher wages and better
working conditions, and depriving
businesses of a talent pool that
they need to build and expand, FTC Chair Lina M. Khan, via statement.
Businesses argue that noncompete agreements are essential for safeguarding investments and proprietary information.
Those businesses also question whether
the agency has the power "to regulate
such agreements," NPR reports. .
If the FTC votes to issue a final rule, enforcement wouldn't occur for 180 days,
and legal challenges would likely ensue.
Credit: Wibbitz Top Stories Duration: 01:31Published
On this episode of The Gamers Den Dev talks about a fight between a former NFL player and a neighbor over a video game, Andrew Tate and his comments about Twitch Streamers and the Microsoft Activision..
2022's Biggest , Video Game News.
Game Rant reports that 2022 was a rollercoaster ride, for the gaming industry, full of , big announcements and massive acquisitions.
Here are some of the biggest,..
Credit: Wibbitz Top Stories Duration: 01:31Published
![Microsoft Makes $1.5 Billion Investment in Leading UAE Technology Firm [Video]](https://video.newsserve.net/300/v/20240416/1372835054-Microsoft-Makes-Billion-Investment-in-Leading.jpg)
![ConocoPhillips to Buy Marathon Oil [Video]](https://video.newsserve.net/300/v/20240529/1376839238-ConocoPhillips-to-Buy-Marathon-Oil.jpg)
![FTC to Decide Whether Noncompete Agreements Should Be Banned [Video]](https://video.newsserve.net/300/v/20240423/1373526476-FTC-to-Decide-Whether-Noncompete-Agreements-Should-Be.jpg)
![The Gamers Den EP 117 - Last Time I Defend Twitch Streamers [Video]](https://video.newsserve.net/300/v/20221230/1672413454-The-Gamers-Den-EP-117-Last-Time.jpg)
![2022's Biggest Video Game News [Video]](https://video.newsserve.net/300/v/20221222/1345358088-2022-Biggest-Video-Game-News.jpg)
