MICROSOFT BUDGES ON VIDEO GAME STREAMING RIGHTS IN PUSH FOR UK TO APPROVE ACTIVISION BLIZZARD DEAL

British competition regulators opened a new investigation into Microsoft's revamped bid to buy video game maker Activision Blizzard, representing the last major hurdle to closing one of the biggest deals in tech history.

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The Competition and Markets Authority said it has until Oct. 18 to decide whether to approve the deal or escalate its preliminary investigation into an in-depth review. The companies agreed earlier to extend the transaction's deadline to that same date.

Xbox maker Microsoft has been on a quest to acquire Activision, maker of the popular Call of Duty game franchise since announcing the $69 billion deal in January 2022.

The companies have secured approvals from antitrust authorities covering 40 countries, including the European Union.

The blockbuster deal faced pushback in the United States, but the Federal Trade Commission lost a court fight to stop it, effectively clearing the way for it to proceed.