Activision Blizzard is officially a part of Microsoft, and its CEO is stepping down

After nearly two years of regulatory battles, Microsoft has completed its $68.7 billion acquisition of Activision Blizzard King and its subsidiaries.

The details:

• Following reports that Microsoft planned to close the deal this week and that the UK's Competition and Markets Authority (CMA) had approved the acquisition, it has now been announced that the deal has been completed. The acquisition is the largest in gaming history, with Microsoft now owning the rights to some of the most popular franchises on the market, including Call of Duty, Warcraft, and Candy Crush.
• Since January 2022, Microsoft and Activision have struggled to complete the deal, with regulators in the US, UK, and EU raising concerns about the company's market control if it acquires the publisher's iconic IPs and studios. Since then, Microsoft has agreed to hand over cloud streaming rights to Ubisoft, as well as agreements with rivals Nintendo and Sony to keep Call of Duty on their platforms for at least another decade.
• Along with the announcement of the deal's completion, Activision CEO Bobby Kotick announced his resignation as CEO but will remain in the position for the rest of the year. It is currently unknown who will replace the veteran executive. “I have long said that I am fully committed to helping with the transition,” Kotick said in an email to employees. “Phil has asked me to stay on as CEO of ABK, reporting to him, and we have agreed that I will do that through the end of 2023. We both look forward to working together on a smooth integration for our teams and players.”

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