Microsoft is restructuring its purchase plan of video game maker Activision Blizzard to satisfy regulators with the U.K. Competition and Markets Authority.

Last month, the two companies agreed to extend their merger deadline to Oct. 18 while working on gaining full approval.

"We are restructuring the transaction to acquire a narrower set of rights," Microsoft President Brad Smith said.

MICROSOFT, ACTIVISION EXTEND DEAL DEADLINE TO OCT 18

"Under the restructured transaction, Microsoft will not be in a position either to release Activision Blizzard games exclusively on its own cloud streaming service – Xbox Cloud Gaming – or to exclusively control the licensing terms of Activision Blizzard games for rival services," Smith said.

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Instead, French gaming rival Ubisoft is to acquire the cloud streaming rights for Activision's existing PC and console games and any new games released by Activision in the next 15 years.

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That will apply globally but not in Europe, where Brussels had already accepted the original deal. In Europe, Ubisoft will get a non-exclusive license for Activision's rights to enable it to offer those games in that region, too.

EU antitrust regulators are examining whether Microsoft's proposal to gain U.K. approval would affect its concessions to the European Commission, a spokesperson said.

Microsoft said Tuesday its new proposal is "substantially different" and is expected to be reviewed by the CMA by Oct. 18.

U.S. Supreme Court Justice Elena Kagan rejected the Federal Trade Commission’s last-minute attempt to stop Microsoft’s $69 billion purchase of Activision Blizzard in July after a group of gamers filed for an emergency injunction to halt the merger and prevent Microsoft from gaining control of popular game series like "Call of Duty," "Candy Crush" and "World of Warcraft."

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Reuters contributed to this report.