FTC May Seek Restraining Order to Block Microsoft, Activision Deal

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 12 June 2023

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for June 12. The FTC plans to seek a restraining order that would block Microsoft and videogame publisher Activision Blizzard from closing their $75 billion deal. Plus, JPMorgan reaches a $290 million settlement over its ties to Jeffrey Epstein. Banking reporter David Benoit has the details. And, WSJ Pro reporter Yuliya Chernova explains what’s behind a startup slowdown. Annmarie Fertoli hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	The scientists of today are creating the next big thing.
0:04.5	On the Wall Street Journal's future of everything podcast, get an early listen to what tomorrow
0:08.9	has in store.
0:10.9	Find us wherever you get your podcasts.
0:19.2	JP Morgan reaches a $290 million settlement with Jeffrey Epstein's accusers, and a deal
0:25.1	between Microsoft and Activision Blizzard could face another hurdle.
0:28.9	Plus, venture capital is drying up, leading to a start-up slowdown.
0:33.1	Many companies that count on getting additional support cannot get it, so they are getting
0:39.0	much less and investing in investment dollars, and their business models are also suffering
0:44.4	in a lot of cases.
0:45.6	It's Monday, June 12th.
0:47.1	I'm Ann Marie for Tolly for the Wall Street Journal.
0:49.6	This is the PM edition of What's News, the top headlines and business stories that
0:53.5	moved the world today.
0:59.4	The Federal Trade Commission plans to seek an emergency court order to stop Microsoft
1:05.9	from closing its $75 billion deal for Game's publisher Activision Blizzard, as according
1:10.9	to a person familiar with the matter.
1:12.7	A judge would need to agree to issue the temporary order, there's no guarantee when or if the
1:17.1	agency will file for the request.
1:19.4	In a statement, Microsoft's Vice Chair and President Brad Smith said the company welcomed
1:23.7	the opportunity to present its case in court, and added that accelerating the legal process
1:28.2	in the U.S. would bring more choice and competition to the market.
	...

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