Microsoft and Activision Blizzard have agreed to extend the deadline for their merger agreement until October 18. The initial completion date was set for July 18, but regulatory challenges in the U.S. and the U.K. caused delays in the takeover process. By extending the deadline, both companies have more time to address regulators' concerns and finalize the deal, avoiding a $3 billion breakup fee to Activision Blizzard. The deal has concerned regulators worldwide, who feared it could limit the distribution of popular games like "Call of Duty." Sony and other industry players expressed concerns that Microsoft might restrict Call of Duty from its PlayStation platform or reduce the game's quality on competing platforms.