Microsoft’s Activision Deal Set to Test Biden’s Antitrust Regime

Less than three weeks into 2022, President Joe Biden’s antitrust regime is facing its first big test of the year. Microsoft Corp.’s $69 billion all-cash takeover of Activision Blizzard Inc. brings together two major gaming platforms in a deal that directly affects consumers -- and could also raise grievances among some of the tech giant’s biggest rivals.

With its $2.3 trillion market valuation, Microsoft hasn’t exactly flown under the radar in Washington. Still, it’s drawn less scrutiny than companies such as Google parent Alphabet Inc. or Meta Platforms Inc.’s Facebook, which are already in the crosshairs of antitrust enforcers at ...