FTC Withdraws Challenge to Microsoft’s Activision Blizzard Deal

FTC Withdraws Challenge , to Microsoft’s Activision Blizzard Deal.

FTC Withdraws Challenge , to Microsoft’s Activision Blizzard Deal.

The Federal Trade Commission (FTC) previously explored two avenues to stop Microsoft's $68.7 billion acquisition of Activision Blizzard.

In December, the agency filed an administrative challenge against the deal.

The FTC also pursued "a temporary restraining order and preliminary injunction," The Verge reports.

Both the restraining order and injunction were denied, and the FTC has now withdrawn its administrative challenge.

However, it is still appealing the denial of the preliminary injunction.

However, it is still appealing the denial of the preliminary injunction.

The news comes as the two companies recently announced they'd extend their deal deadline to Oct.

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The news comes as the two companies recently announced they'd extend their deal deadline to Oct.

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The Verge reports that the FTC may still re-file its administrative challenge.

Meanwhile, Microsoft remains in negotiations with the U.K.’s Competition and Markets Authority.

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Xbox head Phil Spencer reassured staff that both Microsoft and Activision "remain optimistic that we will get our acquisition over the finish line."