Microsoft’s massive $75.4 billion takeover of Activision Blizzard was pitched as the ultimate power-up for its Xbox empire—hello, Call of Duty and Diablo! Instead, gamers watched as some fan-favorite studios got snapped shut, sparking debate: is “building an empire” gamer code for “corporate cleanout”? With iconic franchises now under Microsoft’s control, and some creative teams biting the dust, fans wonder: is this next-gen gaming, or just Monopoly in 4K? Curious how it all plays out?
When Microsoft announced its plan to snag Activision Blizzard for a jaw-dropping $68.7 billion back in January 2022, plenty of gamers—and probably a few accountants—did a double take. The deal, which eventually ballooned to a staggering $75.4 billion by the time it closed in October 2023, instantly became the biggest in gaming history.
Not only did Microsoft scoop up legendary franchises like Call of Duty, Warcraft, Diablo, Overwatch, Crash Bandicoot, and the mobile juggernaut Candy Crush, but it also absorbed a patchwork of studios and, let’s face it, a fair bit of drama. The acquisition instantly made Microsoft the owner of some of the most valuable gaming franchises on the planet, fundamentally reshaping the industry’s competitive landscape.]
Microsoft bagged Call of Duty, Warcraft, Diablo, Candy Crush, and a tangled mess of studios—and, honestly, a whole lot of drama.
Bringing Activision Blizzard under the Microsoft Gaming umbrella meant rubbing elbows with Xbox Game Studios and ZeniMax Media. The plan? Flood the Xbox Game Pass with must-play titles, grab more of the mobile and PC pie, and make sure Sony—plus every other rival—knew Microsoft wasn’t playing around. Exclusive content, more flexible payment models, and developer access to a wider audience were all part of the pitch. Regulatory scrutiny and investigations ramped up as Sony and other competitors raised concerns about exclusivity and competition, prompting reviews from authorities in the US, EU, and UK.
Of course, regulators weren’t exactly lining up to hand out gold stars. The FTC tried (and failed) to block the merger, and the UK’s CMA made Microsoft hand over cloud gaming rights for Activision games to Ubisoft for a decade. Meanwhile, Europe and China shrugged. U.S. senators, worried about Activision’s previous workplace scandals, wondered if things would actually get better for developers.
Inside the studios, the story was complicated. Activision Blizzard had its share of lawsuits and executive shake-ups before Microsoft showed up. Post-acquisition, some studios faced layoffs and a bit of a corporate shuffle—so “building an empire” sometimes looked a lot like closing the gates on beloved teams.
Sony, ever the protective parent, feared losing Call of Duty exclusivity, but Microsoft swore the shooter would stay multi-platform, at least through 2033. Fans and analysts argued about whether all this consolidation was good for competition—or just good for Microsoft.
Still, one thing’s clear: with this mega-deal, Microsoft didn’t just buy games; it bought a bigger seat at the table, even if a few chairs got stacked in storage along the way.