A federal appeals court on Wednesday rejected a legal challenge by the Federal Trade Commission to Microsoft's $69 billion purchase of “Call of Duty” maker Activision Blizzard.

The Federal Trade Commission (FTC) has lost its appeal of a ruling in its case against Microsoft’s $68.7 billion acquisition of Activision Blizzard. In 2023, the FTC requested a preliminary injunction to prevent the companies from finalizing the deal while its legal challenge to the acquisition from 2022 was in progress.