FTC Files Appeal To Pause Microsoft Activision Merger as Deadline to Close Deal Looms 7/13/23

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4.5 • 66 Ratings

🗓️ 13 July 2023

⏱️ 6 minutes

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Summary

FTC Chair Lina Khan was grilled today by the House Judiciary Committee over the agency’s increasing court losses. The agency today also filed its appeal to pause the Microsoft Activision merger. Microsoft has until July 18 to close the deal, when it'll have to either renegotiate terms or abandon the deal and pay a $3 billion break fee.

Transcript

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0:00.0	FTC Chair Lena Khan appearing before House Judiciary today after the agency announced
0:06.9	last night it will appeal a judge's decision to let Microsoft Dev Activision go through.
0:12.1	Our Steve Kovacs been listening in for today's Tech Jack.
0:14.8	Hey Steve.
0:15.8	Hey there, Carl.
0:16.8	Yeah, FTC Chair Khan facing that grilling by the Republican-led House Judiciary Committee
0:20.4	this morning.
0:21.4	Hearing focusing on FTC's investigation into
0:23.7	Twitter for violations of a privacy settlement after Elon Musk took over the
0:28.2	company in the meantime must Twitter asking the court today to eliminate that settlement.
0:33.3	Muskin a tweet shortly after the hearing began saying the FTC, quote,
0:37.0	has gone absurdly far beyond the legal mandate granted by Congress.
0:41.2	Also tough questions around ethics concerns, for example Khan
0:44.4	when she didn't recuse herself from a case against Meta even though an ethics
0:48.5	official advised she do so. Another target FTC's losing record blocking mergers and questioning Congressman Kevin
0:55.6	Kylie pointing out FTC is 0 and 4 when merger challenges and why the FTC brings those cases
1:01.8	to courts.
1:02.8	Take a listen to that exchange.
1:04.7	We fight hard when we believe that there is a law violation and unfortunately things don't
1:09.4	always go our way but we you know make determinations but are you bringing cases that you
1:14.3	expect to lose could you repeat are you bringing cases that you expect to
1:17.7	absolutely not meantime the FTC in a legal filing last night telling the
	...

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