Microsoft Paints ‘Call of Duty’ Sale as Activision Dealbreaker

Microsoft Corp. made it clear on Tuesday that there will be no $69 billion deal to buy Activision Blizzard Inc. unless it comes with the blockbuster title Call of Duty.

Less than two weeks ago, Britain’s antitrust watchdog suggested that Microsoft may need to divest Call of Duty — one of the most lucrative game franchises in the world — to assuage concerns about its Activision Blizzard takeover being harmful for gaming market competition. Microsoft president Brad Smith told reporters after a closed-door hearing in Brussels with European Union regulators that it isn’t “feasible or realistic to think that ...