Microsoft closes in on Activision deal after Britain signals approval

Microsoft came one step closer Friday to completing its $69 billion purchase of the video game-maker Activision Blizzard, in a deal that has become an example of how a company can successfully ride out stricter regulatory scrutiny of the power of tech giants.

Britain’s Competition and Markets Authority, the last remaining agency that must sign off before Microsoft can complete the acquisition, said the companies took action that “substantially addresses” remaining antitrust concerns. The regulator initially tried to block the deal, saying it would undercut competition, but reversed course after Microsoft agreed not to purchase a part of Activision’s business associated with so-called cloud gaming, a small but promising new area for the industry.