Microsoft's acquisition of Activision Blizzard has officially concluded its legal journey after US appeals courts rejected the Federal Trade Commission's final attempt to challenge the landmark deal. The tech giant has now owned the Call of Duty publisher for nearly two years, but lingering legal challenges from regulators had kept the case technically active until this decisive ruling.

Why the Courts Sided With Microsoft

The appeals court panel unanimously upheld earlier decisions favoring Microsoft, citing the FTC's inability to demonstrate how the acquisition would negatively impact competitors. Court documents reveal regulators failed to prove Microsoft would make Activision games exclusive to Xbox platforms - a central argument in the FTC's case.

Market data supported Microsoft's position, with PlayStation users accounting for 64% of spending on Microsoft-published games in December 2024. This was largely driven by Call of Duty: Black Ops 6's successful PS5 release, demonstrating Microsoft's commitment to multiplatform publishing.

The Bigger Picture

This ruling represents a major victory for Microsoft's gaming division and validates the company's pre-acquisition commitments to maintain Activision titles on competing platforms. While the FTC could theoretically pursue other arguments in its broader antitrust case, this decision effectively ends challenges to the merger itself.

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Microsoft Gaming By the Numbers

Industry analysts suggest this ruling could encourage further consolidation in the gaming sector, though future deals will likely face similar regulatory scrutiny. For Microsoft, the path is now clear to fully integrate Activision Blizzard's studios and franchises into its Xbox ecosystem while honoring its commitments to multiplatform publishing.