Judge declines to block Microsoft's record $69 billion deal to buy Activision Blizzard

A federal judge has handed Microsoft a major victory by declining to block its looming $69 billion takeover of video game company Activision Blizzard. Regulators are seeking to ax the deal because they say it will hurt competition. U.S. District Judge Jacqueline Scott Corley said in a ruling that the “FTC has not shown a likelihood it will prevail on its claim this particular vertical merger in this specific industry may substantially lessen competition. To the contrary, the record evidence points to more consumer access to Call of Duty and other Activision content.” Shares of Activision jumped 5% on ruling Tuesday.