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Activision ticks lower amid report Sony unlikely to accept Microsoft offer

Activision (NASDAQ:ATVI) ticked down 0.5% amid a report that Microsoft's (NASDAQ:MSFT) offer of a 10-year guarantee for same-day Call of Duty release on the PlayStation console is unlikely to be accepted by Sony (NYSE:SONY) as the software giant works to secure regulatory approval for the videogame mega deal.

The Microsoft (MSFT) offer likely doesn't address all of Sony's (SONY) concerns, according to a Dealreporter item, which cited a source familiar. Sony is said to be "nowhere near" concluding any agreement with Microsoft.

The report comes as Microsoft President Brad Smith was expected to go to Washington D.C. Wednesday to meet with the Federal Trade Commission in attempt to save the software giant's $69 billion acquisition.

The last ditch effort comes after Smith penned a Wall Street Journal op-ed piece on Monday, where he confirmed that Microsoft (MSFT) was offering rival Sony (SONY) a 10-year guarantee for same-day Call of Duty release.

The FTC has a closed-door meeting scheduled for Thursday where the agency will discuss the transaction and there's an outside chance they may vote on the videogame deal, according to a New York Post report.

Xbox Chief Phil Spencer tweeted late Tuesday that Microsoft (MSFT) and Nintendo (OTCPK:NTDOY) have come to a deal that will bring Activision Blizzard's (ATVI) best-selling videogame franchise Call of Duty to Nintendo's gaming platforms for 10 years.