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 deal went through in 2023 after a court denied the FTC's request for an injunction. An appeals court today upheld that denial.

The U.S. Federal Trade Commission has lost its appeal against the Microsoft Activision deal in the 9th Circuit U.S. Court of Appeals. The FTC, which is probably the only entity still bothered by the merger,