Feds move to block $69 billion Microsoft-Activision merger

News Snapshot:

Federal regulators have filed a legal motion to prevent Microsoft from completing its $69 billion deal for Activision Blizzard. The Federal Trade Commission on Monday filed for a temporary restraining order and an injunction in the Northern District of California to stop the deal from closing. The FTC sued in December to stop the merger, which would be the largest deal in Microsoft's history as well as the largest video game deal ever, according to regulators. However, the lawsuit — the first hearing in which is scheduled for August 2, according to court filings — doesn't prevent a deal from...