These objections, which Microsoft has appealed, have extended the expected completion into late 2023 or 2024. Federal Trade Commission (FTC) and the UK's Competition and Markets Authority (CMA) formally filed complaints to block the acquisition on the basis that the merger would hinder competition, particularly in the cloud gaming sector. Several countries have approved the merger without any concessions from Microsoft, including the European Commission and China. If approved by international regulators, it would be the largest video game acquisition in history. The acquisition would give Microsoft ownership of franchises including Call of Duty, Crash Bandicoot, Spyro, Warcraft, StarCraft, Diablo, Overwatch, and Candy Crush. Under the terms of the agreement, which were expected to close by Q2 2023 pending regulatory and shareholder approval, Microsoft would own Activision, Blizzard Entertainment, and King under the Xbox Game Studios ( Microsoft Gaming) division. On January 18, 2022, Microsoft announced its intent to acquire Activision Blizzard for $68.7 billion in cash. Proposed acquisition of Activision Blizzard by Microsoft Business acquisition held from 2022 to 2023
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