Microsoft, Activision ask FTC to drop suit against planned $69 billion deal
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Microsoft (NASDAQ:MSFT) and Activision (NASDAQ:ATVI) filed a motion with the Federal Trade Commission asking the agency to drop its in-house lawsuit after the antitrust regulator lost its efforts in federal court to block the deal.
The companies made the request after a federal court and an appeals court last week denied the FTC's request for a preliminary injunction to halt the videogame megadeal.
While the FTC lost its bid in federal court to block the deal, it still has an internal proceeding with its in-house administrative law judge, which is currently scheduled to start next month. 
Activision and Microsoft (MSFT) said on Thursday they agreed to extend the deadline for the deal to Oct. 18 as they try to win approval from the UK's antitrust regulator, who originally blocked the combination.
"In light of this thorough airing and the district courtâs findings that the FTC failed to raise any serious questions regarding the legality of the merger, there is little reason to believe the ALJ would reach a different conclusion," the companies said in the legal filing that was disclosed on Wednesday.
The filing comes after a Reuters report on Monday that the FTC was considering options after its loss, including pursuing its fight in the internal FTC court, continuing its appeal in federal court, settling with Microsoft (MSFT), or simply walking away. 
The request from companies also comes after Microsoft (MSFT) on Sunday said it signed a binding agreement to keep the videogame "Call of Duty'' on Sony's (SONY) PlayStation following the completion of its acquisition of Activision (ATVI).
FTC Chair Lina Khan earlier Wednesday declined to comment specifically about the Activision (ATVI) deal when asked if the agency would drop the case. 
"Generally, if we get an adverse decision from a district court we look very closely at it to determine if we think they were any errors of law or misapplication of law that we think warrant appeal," Khan said in an interview on CNBC earlier. 
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