British antitrust regulators block Microsoft purchase of Activision Blizzard

British antitrust regulators have blocked Microsoft's $69 billion deal to buy video game maker Activision Blizzard. In a statement Wednesday, Britain's Competition and Markets Authority said, "we've prevented Microsoft from purchasing Activision over concerns the deal would damage competition in the cloud gaming market, leading to less innovation and choice for UK gamers." The all-cash deal was set to be the biggest in the history of the tech industry. Michael Pachter, a managing director at Wedbush Securities, has more.