Microsoft / Activision Blizzard merger inquiry
The CMA investigated the anticipated acquisition by Microsoft Corporation of Activision Blizzard, Inc.
Phase 2
Administrative timetable
| Date of referral | 15 September 2022 |
| Statutory deadline | 26 April 2023 |
- (5.4.23)
Contact
Microsoft / Activision Blizzard (ex-cloud streaming rights) merger inquiry
22 August 2023: Microsoft and Activision Blizzard notified to the CMA an acquisition by which Microsoft will acquire Activision, excluding Activision’s cloud streaming rights outside of the European Economic Area. The CMA considered this as a separate merger investigation.
22 September 2023: The CMA consulted on Microsoft’s request under paragraph 12 of the Microsoft and Activision Merger Inquiry Order 2023 for consent to acquire Activision, excluding Activision’s non-EEA cloud streaming rights.
13 October 2023: The CMA decided to grant consent under paragraph 12 of the Microsoft and Activision Merger Inquiry Order 2023 for Microsoft to acquire Activision, excluding Activision’s non-EEA cloud streaming rights. See Microsoft / Activision Blizzard (ex-cloud streaming rights) merger inquiry for more information.
Final Order
22 August 2023: The CMA gives notice of the making of ‘The Microsoft and Activision Merger Inquiry Order 2023’. On the making of this Order the reference is finally determined.
- (22.8.23)
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Final decision on change of circumstances/special reasons
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Consideration of possible material change of circumstances/special reasons
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(31.7.23)
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(31.7.23)
Notice of extension of statutory period to make an order
14 July 2023: The Inquiry Group has decided to extend by six weeks under section 41A(2) of the Act the period for the discharge of its duty under section 41(2) of the Act, as it considers that there are special reasons to do so. The revised period will therefore end on 29 August 2023.
- (14.7.23)
Notice of intention to make a final order
19 May 2023: The CMA gives notice of the intention to make a final order.
- (19.5.23)
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Interim Order
5 May 2023: The CMA served an interim order under section 81 of the Enterprise Act 2002 on Microsoft Corporation, Activision Blizzard, Inc, and their interconnected bodies corporate.
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Final report
26 April 2023: The CMA has published its final report.
- (26.4.23)
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- Press release: Microsoft / Activision deal prevented to protect innovation and choice in cloud gaming (26.4.23)
Evidence
The publication of the evidence of any party on the CMA’s webpages does not indicate in any way endorsement by the CMA of the views expressed in the evidence or acceptance of that evidence. Publication in this way is designed to assist public understanding of the issues.
Responses to addendum provisional findings
- (6.4.23)
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Addendum provisional findings
24 March 2023: The provisional findings addendum outlines the Group’s revisions to the provisional SLC finding in the provisional findings report in relation to console gaming in the UK. The CMA has provisionally concluded that the anticipated acquisition by Microsoft Corporation of Activision Blizzard, Inc. will not result in a substantial lessening of competition in relation to console gaming in the UK.
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(24.3.23)
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(24.3.23)
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Press release: CMA narrows scope of concerns in Microsoft - Activision review (24.3.23)
Responses to provisional findings
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Responses to possible remedies
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Summary of third party calls
- (15.2.23)
Provisional findings
8 February 2023: The CMA has provisionally found competition concerns as part of its in-depth investigation of the anticipated acquisition by Microsoft Corporation of Activision Blizzard, Inc.
- (8.2.23)
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- Press release: Microsoft – Activision deal could harm UK gamers (8.2.23)
Notice of extension of statutory period
- (5.1.23)
Responses to the issues statement
- (23.11.22)
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- (12.12.22)
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Issues statement
14 October 2022: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions.
- (14.10.22)
Inquiry group appointed
15 September 2022: The CMA has appointed the inquiry group:
Martin Coleman (Chair), John Thanassoulis, Humphrey Battcock and Ashleye Gunn.
Terms of reference
15 September 2022: The CMA has referred the anticipated acquisition by Microsoft Corporation of Activision Blizzard, Inc. for an in-depth investigation.
- (15.9.22)
Phase 1
Statutory timetable
| Phase 1 date | Action |
|---|---|
| 1 September 2022 | Decision announced |
| 6 July 2022 to 20 July 2022 | Invitation to comment |
| 6 July 2022 | Launch of merger inquiry |
Response to phase 1 decision
- (18.10.22)
Reference decision
15 September 2022: The CMA has referred the anticipated acquisition by Microsoft Corporation of Activision Blizzard, Inc. for an in-depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this Merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.
- (15.9.22)
Reference unless undertakings accepted
1 September 2022: The CMA has decided, on the information currently available to it, that it is or may be the case that this Merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This Merger will be referred for an in-depth investigation unless the parties offer acceptable undertakings to address these competition concerns.
- (12.10.22)
- (1.9.22)
- Press release: Microsoft / Activision deal could lead to competition concerns (1.9.22)
Launch of merger inquiry
6 July 2022: The CMA announced the launch of its merger inquiry by notice to the parties.
- (6.7.22)
Invitation to comment: closed
6 July 2022: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.
To assist it with this assessment, the CMA invites comments on the transaction from any interested party.
These comments should be provided by the deadline set out above.
Updates to this page
Published 6 July 2022Last updated 13 October 2023 + show all updates
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CMA granted consent under paragraph 12 of the Microsoft and Activision Merger Inquiry Order 2023.
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Update to merger inquiry
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Full decision text published
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Final order and final decision on material change of circumstances / special reasons published.
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Notice inviting comments and Microsoft submission published
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Notice of extension published.
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Notice of intention to make a final order, draft final order, and draft explanatory note published.
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Interim order published.
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Full text, appendices and glossary published
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Final report overview and summary of final report published.
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Responses to addendum provisional findings published.
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Admin timetable updated.
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Addendum provisional findings and Notice of addendum provisional findings published
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Microsoft’s supplemented response to the notice of provisional findings published.
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Responses to the provisional findings published
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Responses to possible remedies published
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Summary of third party calls published.
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Full provisional findings and appendices published.
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Summary of provisional findings, notice of provisional findings and notice of possible remedies published
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Updated administrative timetable and notice of extension published.
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Summary of responses to the issues statement from members of the public published.
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Market participant response to the issues statement published.
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Parties responses published.
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Response to phase 1 decision published.
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Issues statement published.
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Full text of phase 1 decision published.
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Administrative timetable published.
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Inquiry group appointment published.
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Decision to refer and Terms of reference published
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Summary of phase 1 decision published.
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First published.