Shares in Sony took a huge tumble this week following the news that Microsoft will buy Call Of Duty publisher Activision Blizzard.
Yesterday, Microsoft announced that it would be buying Activision Blizzard as part of a massive $69 billion deal that sees the likes of Call Of Duty, Crash Bandicoot, and Overwatch become Xbox franchises.
There's no getting around the fact this is obviously bad news for Sony, and shares in the company dropped accordingly. As reported by The Financial Times and Bloomberg Sony's stock plunged by 13% overnight, wiping nearly $20bn from the company's market value.
It's the biggest drop in the Sony stick since October 2008, when the company recalled 100,000 laptop batteries after it emerged they were a fire hazard.
Comparatively, Square Enix, Capcom, and Konami all saw an increase of nearly 5% , while Ubisoft went up by 11%. This is likely a result of savvy investors attempting to divine the next company Microsoft gobbles up, although we can't imagine there'll be any more news on that front for a while.
"As a company, Microsoft is committed to our journey for inclusion in every aspect of gaming, among both employees and players," Xbox boss Phil Spencer said in a press release after the buyout was announced.
"We also believe that creative success and autonomy go hand-in-hand with treating every person with dignity and respect. We hold all teams, and all leaders, to this commitment. We’re looking forward to extending our culture of proactive inclusion to the great teams across Activision Blizzard."
Assuming the deal gets over the line, expect to see it made official and completely finalised in 2023. Until then, expect business as usual from Xbox and Activision.
Featured Image Credit: Sony/MicrosoftTopics: PlayStation, Xbox, Activision, Call Of Duty