Microsoft's Gaming Industry Maneuvers: From Failed Acquisitions to FTC Hearings.

The second day of the FTC's legal battle to halt Xbox's merger with Activision saw Microsoft's Phil Spencer explain the company's mobile-focused strategy for acquiring Activision. The FTC spent a significant portion of time defining the "relevant markets" and trying to prove that Microsoft acquiring Activision would "substantially lessen competition" in a "relevant market." Xbox argued that it's in "third place" behind both PlayStation and Switch, and an Activision acquisition would help bolster its weaker market position rather than harm competition. The FTC repeatedly demonstrated misunderstandings of how the gaming business works, while Microsoft was able to lay out a coherent guide to Xbox's attempted strategy in acquiring Activision Blizzard.