New Delhi (CNN Business) Microsoft's blockbuster purchase of video game developer Activision Blizzard could pose a serious threat for Sony. Microsoft MSFT Sony SNE Shares of the maker of the PlayStation console, a major rival to Microsoft's Xbox, plummeted nearly 13% in Tokyo on Wednesday afterannounced the nearly $70 billion deal. That was the worst plunge in's stock price since 2008, according to data provider Refinitiv. Microsoft and Sony have competed for decades with iterations of their Xbox and PlayStation consoles, often wooing video gamers with exclusive titles and features. Tencent TCEHY The transaction would see Microsoft become the world's third-largest gaming company by revenue, behindand Sony, the company said in a statementRead More

Source: CNN January 20, 2022 06:48 UTC