Game of Thorns

To prevent ostensibly large businesses from getting any larger, government officials are clamping down on mergers and acquisitions with unprecedented force, calling for deals to be blocked and for completed mergers to be undone without much consideration of the merits and consequences of such drastic government intervention....

In the Microsoft-Activision Blizzard case, it seems that the US Federal Trade Commission (FTC) is eager to follow the EU, which views competition law as a means of protecting smaller firms. Yet, the US approach, which centres on consumer welfare, has led to American businesses innovating and outcompeting their international counterparts.

Rivals and their relative power should not be the FTC's main focus. This case demonstrates how it has strayed far from its consumer protection mission, opting to use antitrust enforcement as a vehicle for micromanaging the economy. Such efforts undermine the natural rivalry necessary for market competition....


By blocking the Microsoft-Activision deal, the FTC is strengthening the power of incumbents such as Sony and Nintendo, and protecting their market. Transactions that enable companies to compete with dominant players or expand into new markets benefit the consumer, but these deals are being held up based on speculative accusations of harm.

From 'FTC Favours

Competitors Over Competition in Fight Against Microsoft', Washington Examiner