FTC appeal denied while the UK gives Microsoft more time to close Activision Blizzard deal

The Federal Trade Commission (FTC) has been denied its appeal of a federal judge’s ruling allowing Microsoft acquire Activision Blizzard.

This is a huge win for Microsoft, taking the company one step closer to becoming a gaming giant.

the FTC filed his appeal yesterdayhoping to avoid the deal closing before the July 18 deadline.

However, the US district judge who presided over the FTC’s attempt to stop the acquisition, Jacqueline Scott Corley, rejected the Federal Trade Commission’s decision on Thursday night (via Reuters).

Things should move quickly, as of this point Activision Blizzard will be delisting from the NASDAQ on July 17 in anticipation of the acquisition. If the deadline is missed, Microsoft must pay Activision Blizzard $3 billion and return to the negotiating table.

Meanwhile, the UK Competition and Markets Authority (CMA) has extended its deadline for a final decision on the acquisition (thanks, GI.biz). This means Microsoft has more time to close the deal and also gives the CMA more time to review the proposed changes Microsoft has made to its acquisition plans.

The acquisition of Activision Blizzard would be the largest in gaming industry history, giving Microsoft control of some of the world’s biggest gaming franchises, including Call of Duty, World of Warcraft and Candy Crush.

The deal has been met with some concerns from antitrust regulators, who worry it could give Microsoft too much power in the industry; however, Microsoft has argued that the acquisition will benefit consumers by increasing competition and innovation.

Whether the CMA will approve the acquisition remains to be seen, but the denial of the FTC’s appeal is an important sign that the deal is nearing completion.