0854 GMT - Activision Blizzard is among the most mentioned companies across news items over the past two hours, according to Factiva data, after the U.K. Competition and Markets Authority said it will review a new proposal by Microsoft to buy the videogame maker. Microsoft has offered to only buy the cloud-streaming rights to all current and future Activision games released during the next 15 years in the European Economic Area. The cloud-streaming rights outside the European Economic Area would be divested to Ubisoft Entertainment once the acquisition is completed. Interactive Investor's Victoria Scholar writes that the new proposal is a step in the right direction toward regulatory approval, but it isn't a done deal just yet. "Microsoft is hoping that this will appease the CMA and address its concerns over competition, potentially allowing the tie-up to cross the line this time," Scholar adds. Earlier this year the U.K. regulator blocked Microsoft's initial $75 billion takeover proposal to buy Activision. However, the CMA said Tuesday that the new review isn't a green light and that it will "carefully and objectively assess the details of the restructured deal and its impact on competition, including in light of third-party comments." Dow Jones & Co. owns Factiva. (ian.walker@wsj.com.)

(END) Dow Jones Newswires

August 22, 2023 05:09 ET (09:09 GMT)

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