The Microsoft-Activision Blizzard Deal, Done, with ATVI CEO Bobby Kotick 10/13/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 13 October 2023

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

After 22 months, Microsoft has closed its $69.5B acquisition of Activision Blizzard. So what now? Activision Blizzard CEO Bobby Kotick reflects on the long road to regulatory approval, and what’s next for gaming and for Activision-turned-Microsoft employees. After building Activision into the gaming giant it is today, Kotick considers his own next chapter and his legacy as CEO. And the White House is taking on junk fees. Consumer Financial Protection Bureau Director Rohit Chopra is co-leading the effort, and he explains what they are and how the administration is planning on curbing them. Plus, NBC’s Kelly Kobiella is in Jerusalem, reporting on the 1m+ Palestinians attempting to flee Gaza after the Israeli Defense Forces ordered an evacuation. In Washington DC, CNBC’s Emily Wilkins explains the House’s ongoing search for a Speaker, after Rep. Steve Scalise (R-LA) ended his bid for the position. Rohit Chopra - 11:38 Bobby Kotick - 22:19 In this episode: Kelly Cobiella, @KellyCobiella Emily Wilkins, @emrwilkins Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squack-Pod and I'm C.N.C. producer Cameron Costa.
0:08.0	Today on our podcast,
0:10.0	It's official, 22 months and 69 and a half billion dollars later, Microsoft and Activision Blizzard are merged.
0:19.6	Activision CEO on the final blessing on his long-awaited deal and on saying goodbye to the
0:25.6	business he built. I think this is a company that needed stewardship from
0:30.1	somebody other than Brian and I and we were very lucky.
0:35.0	He's handing the reins to Microsoft.
0:37.6	So what's next for gaming?
0:39.5	I think one of the benefits of this combination
0:42.0	is that we can take games that have been in the library
0:45.2	for the last 30 years and actually remake them.
0:49.7	Plus the White House is hoping to crack down on junk fees, but we have to agree on what they are first.
0:56.4	CFPB director Rojopra is co-leading the effort.
1:00.5	We have found, for example, Bank of America, Wells Fargo, several others, charging multiple
1:07.7	insufficient funds fees for the same single charge.
1:11.7	We've seen it go down by billions of dollars. Those
1:15.1	conversations plus were on the ground in Jerusalem and we're in DC where
1:20.0	reporter Emily Wilkins says leadership is in flux.
1:24.3	It is not clear at this point when we are going to see a speaker of the house.
1:27.9	It has now been 11 days since Kevin McCarthy was ousted.
1:32.1	It's Friday, October 13, 2023,
	...

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