Microsoft / Activision Deal Approval Watch |OT| (MS/ABK close)

Do you believe the deal will be approved?


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Wonder what this means for the future games coming from Activision like Infinity Wards new IP

Haven't heard (rumors anyhow) there are like 4 new Blizzard games coming?

Assuming Blizzard can even pull that off at this point. It took a lot out of them to get OW2 and D4 out the door. One of the producers was complaining about Blizzard's RTO order causing them to lose a lot of people. To the point where they started making a list of things they had to cancel for games like WoW because they lacked the people to accomplish a goal that was doable before.
 
Dude, you're literally acting as if there hadn't been a trial. As if legal arguments hadn't been presented and debated. The FTC for once had to back up their claims and not just make them. The outcome was expected and is clear. Help them file an appeal if you're that salty, Mr arm chair counsel.

Might not be necessary:

 
Yea dude. Sony gets acquired for the sole purpose of having a sugar daddy?

I think not. Sony can make other moves. I also believe there's a limit to what Microsoft will be able to do before the courts do see it as anticompetitive, even with this decision going in their favor.

I think Sony goes after Square-Enix. I think Konami is on the table. I think Capcom is up for grabs. Take two...I don't know that Sony can afford it. They're valued at 25 billion.
SE would be good the bones are there to quickly turn them around. Konami is a total rebuild and Sony does not do fixer uppers. Capcom would be the one that would hurt Microsoft the most.
 
Sony had been in the market for 20+ years and failed miserably to compete? :pie_diana:

edit: there's other things you got completely wrong too like saying that Gran Turismo wasn't a home grown game
He's not attacking Sony. Just saying as market leader they haven't had much pressure on them.
By having more competition, they are more likely to be consumer friendly.

You can certainly disagree though.
 
I'm sure Jim Ryan pulled people into rooms earlier this year to discuss who they buy and how else they mitigate this and those plans will start going into effect. He's a moron but he won't be *that* asleep at the wheel.

And Microsoft will see that there's no one they won't be allowed to buy, so they'll have the next purchase lined up from their list.

September for Sony, October for Microsoft.
I mean at this point, who is even left that will have an impact. Square seems like a waste of money for Sony but maybe to prevent Xbox from buying them and making them a multiplat studio for final fantasy again.
 
Oh boy, just got caught up.

And man, sometimes I hate being right all the time:

As an Xbox owner: yay, Game Pass is all but certainly going to get better, that'll save me a lot of money at a time when I can't play a lot of games due to finances. However, as a fan of a functioning legal system with independent regulators keeping the Government and Corporations in check: this more-than-a-little fucking sucks in my eyes. While I do think the CMA's cloud argument was flimsy, it was still their decision, and it should've held because that's the system. Microsoft should've gone to CAT and argued their case because that's the system. Pausing the due process because Microsoft decided it wanted to negotiate after the CMA had made its decision, and because the FTC just fumbled another case, feels... kinda scummy to me. Obviously it's all above-board, but it kinda rubs me the wrong way.

I agree with you in principle. Hashing this out in court would be best for all parties since it would establish precedent for the market. I also support the regulators willingness to talk because it saves taxpayers from footing the bill for costly and futile legal challenges.
 
What are you even attempting here besides splitting hairs? The fact remains that T2 made a huge move. Even the rougly $6 billion they spent in cash was huge compared to their market value. You're literally making up excuses.
Take2 is worth 25 billion. I wouldnt call 6 billion huge.
 
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Yes! Good post here. It would've definitely been better for the FTC to focus on Sony consumers, rather than Sony as a company themselves. I posted the CADE's ruling on the merger earlier and they specifically address that they are not there to protect the interests of Sony. However, they also state..

After all, one cannot lose sight of the fact that the holder of the legal assets protected by Law No. 12,529/2011 is the collectivity, and not the competitor/economic agent as an individual entity. In this sense, although it is recognized that part of the users of PlayStation consoles (from Sony) could decide to migrate to Xbox in the event that Activision Blizzard games – and especially Call of Duty– become exclusive to the Microsoft ecosystem, SG/Cade does not believe that such a possibility represents, in itself, a risk to competition in the console market as a whole.

So they weren't even worried that CoD might become exclusive, and even the CMA dropped that stance. It's difficult to argue Sony exclusivity good and Microsoft exclusivity bad. It really is. Especially when the market leader has controlled the vast majority of exclusivity for a long time. You can't prove that the acquisition is a permanent or partial foreclosure of content, and again, even if it was, it seems not be the biggest concern of regulators (Except the FTC, and it didn't much workout for them).

I get what you're saying though. Want to address your post more, but I'm mobile, so it will have to wait. I do like your points though and they make sense, I just think they're hard to prove and falling into the "might" and not "for sure will" category.
Sony and MS has both done exclusive games. Like what are you ever trying to say here?
 
I was not being facetious at all with my post. As an M&A consultant, I've had to learn to not be so frustrated with people's ignorance (literal, not demeaning context) on technical fundamentals of a trade they don't participate in, as this is a gaming site, not a finance forum. I similarly appreciate when tech experts here are patient with me and my limited knowledge of the tech surrounding video games.

Also, I'm not above console/company preferences myself, and will admit I prefer Sony's approach to the gaming industry overall.

I get you. Being an M&A consultant you for sure know more than me on that front and I'll defer to your expertise. Before the FTC can win an appeal they have to decide if they're going to push it that far. Do you think they will go for an appeal between now and Friday?

For me, when you own a PC, PS5, and an Xbox... it comes less of a console warrior deal and more of the best of all worlds (Well, most, since I don't own a Switch). I really do like Gamepass. It's a fucking meme around here, but if you intend to play or even try the games on it, then that value in unmatched. I like options. PC is just PC. With Sony, they are unrivaled in their Singleplayer, first party offerings. I love them for that. I just can't see myself hugging just one plastic box and saying these companies care about me. You might prefer Sony's approach to the gaming industry, but what Microsoft is trying to accomplish in one bite, Sony has also tried to accomplish in smaller portions. To me, it's two different dynamics vying for the same end.
 
I already stated that Microsoft tried and failed during two separate eras trying to acquire studios and shuttering them. Did you miss that part?

They are down but they are not dead. If they plan on continuing on, then continuing to compete is maybe better than the alternative.

The alternative is Sony exists in the AAA console space alone, with nintendo making it's brand of games.

Nothing gets better this way. Sony would have no pressure to improve themselves. That means they keep resting on their laurels like they have been.

Miss me with this disingenuous line. Sony "needs" Xbox as much as Nintendo needs PSP or Vita; they don't need them. And as far as them resting on their laurels, Sony's the one out of them & Microsoft, who have actually been consistently delivering big 1P AAA games for the past several years, including so far this generation. Not Microsoft, who literally thought they could coast by 2022 with no big Game Pass or 1P releases and not see the drops they ended up seeing.

So tell me who's the one actually resting on their laurels here?

They felt justified coming out first with $70 games.

Complete lie. Publishers like EA and ABK were the first to push for $70 games, not Sony. Go review the books.

They felt comfortable not having to give us a real showcase for 3 whole years.

What? They had a Showcase in September 2021. That is barely two years ago. Yes the May Showcase was underwhelming but don't try rewriting history just to attempt proving a point.

When they do come back with something it's a glorified State of Play that most people were not happy with.

Okay, and it was their first real miss in terms of a Showcase since they switched to the new format in 2020. They do need to do better for the next one, but how does any of this equate to "MS buying big publishers like ABK will force Sony to better compete"? It doesn't.

Like let's not pretend that Sony has been given a pass on a lot of shyt.

Such as? And who's giving them the pass? Definitely not the games media. You've got idiots like Bloomberg Takashi out there crying about FF XVI being an exclusive and trying to act like 3+ million in two weeks is a failure, and that PSVR2 was a failure when it is actually outselling the original launch-aligned.

And there are plenty of people in the media like him, pushing similar FUD about almost everything PS-related. Forums like ResetERA that have mods & admin engineering FUD campaigns against PS and PS exclusives, even getting other sites like Eurogamer to join (and fail) in on the fun.

So who are those in these prominent positions giving Sony a pass? And passes for what?

Now they can feel some pressure.

I'm sure trying to please shareholders wanting constant increases in revenues and profits is enough pressure as-is.

They won't become 2nd or 3rd place because of this deal. However, they will feel some heat. Which means they will need to step things up for the consumers.

And yet I somehow bet you're the type who feels Sony responding with acquisitions of their own is "a step too far". "No, they don't have to do that, just keep focusing on their 1P and that alone, everything will stay as-is".

Microsoft are showing what it seemingly means to "compete", now, so unless you're at least okay with the idea of others responding in kind, then you don't actually want the things you seem to be saying you want.

It's the silver lining in this deal going Microsoft's way.

You haven't illustrated a single substantive thing that's an actual silver lining. Just made false claims with disingenuous takes, misunderstandings and half-truths. You can point to a silver lining when you're accurate about the state of things at PlayStation.
 
As someone who only buys playstation, bethesda bought didn't really strike me as ''pro consumer'' because it literally made me buy a pc just to be able to play this game and others (any savings I might have had with the gamepass are gone with the purchase of new hardware)

''but playstation players are minorities in relation to the potential market of other platforms benefited''

It's really not true if we consider some countries like the United Kingdom, where playstation sells by a large margin in relation to the competition, which makes CMA's decision to block the purchase and protect the majority of consumers in the country understandable.

''but sony also takes games from competitors''

I really don't remember any time that sony spent 70 billion for this, right after having spent 7 billion
 
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What are you even attempting here besides splitting hairs? The fact remains that T2 made a huge move. Even the rougly $6 billion they spent in cash was huge compared to their market value. You're literally making up excuses.
What am I doing? Pointing out you were incorrect.
T2 and Zynga merged. T2 didn't acquire them. There is a difference. That's it.
When a company merges they can leverage a greater level of capital. By swapping shares it means they don't have to pay in cash, which they most likely didn't have, or couldn't get.
 
Thread title is weird. Just make it clear that Microsoft owns ActiBlizz now.

Buckle up boys. Phil bout to smoke a blunt full of Bobby pubes.
 
As someone who only buys playstation, bethesda bought didn't really strike me as ''pro consumer'' because it literally made me buy a pc just to be able to play this game and others (any savings I might have had with the gamepass are gone with the purchase of new hardware)

''but playstation players are minorities in relation to the potential market of other platforms benefited''

It's really not true if we consider some countries like the United Kingdom, where playstation sells by a large margin in relation to the competition, which makes CMA's decision to block the purchase and protect the majority of consumers in the country understandable.

''but sony also takes games from competitors''

I really don't remember any time that sony spent 70 billion for this, right after having spent 7 billion


So what is this list of games this deal costs Sony in the next 3-5 years? COD nope, D4 nope, over watch 2 nope, warzone nope. I guarantee you xbox will lose more games from major studios in the next 3-5 years than this deal will. ABK is a COD factory with a Blizzard release ever few years.
 
They had games like Metal Gear, Ridge Racer, Battle Arena Toshinden, Tekken 1, Gran Turismo. I mean these are not home grown games at the time. They purchased exclusivity for them.
Holy fucking shit, this is actually triggering me pretty hard. Gran Turismo came straight from the internal Japan Studio division at SCEI, and it was so successful that the team behind it spun off into an entirely new development subsidiary, Polyphony Digital. Gran Turismo is literally SIE's own Super Mario all things considered.
 
So what is this list of games this deal costs Sony in the next 3-5 years? COD nope, D4 nope, over watch 2 nope, warzone nope. I guarantee you xbox will lose more games from major studios in the next 3-5 years than this deal will. ABK is a COD factory with a Blizzard release ever few years.
Ms could easily free a lot of those studios up and make just treyarch the cod developer or iw etc….
 
I already stated that Microsoft tried and failed during two separate eras trying to acquire studios and shuttering them. Did you miss that part?

They are down but they are not dead. If they plan on continuing on, then continuing to compete is maybe better than the alternative.

The alternative is Sony exists in the AAA console space alone, with nintendo making it's brand of games.

Nothing gets better this way. Sony would have no pressure to improve themselves. That means they keep resting on their laurels like they have been.

They felt justified coming out first with $70 games. They felt comfortable not having to give us a real showcase for 3 whole years. When they do come back with something it's a glorified State of Play that most people were not happy with.

Like let's not pretend that Sony hasn't been given a pass on a lot of shyt. Now they can feel some pressure. They won't become 2nd or 3rd place because of this deal. However, they will feel some heat. Which means they will need to step things up for the consumers.

It's the silver lining in this deal going Microsoft's way.
This in no way improved Microsoft though. Sony don't have a quality problem they have a quantity one now the aren't going to make better games they are going to acquire more.
 
Wonder what this means for the future games coming from Activision like Infinity Wards new IP

Haven't we heard (rumors anyhow) there are like 4 new Blizzard games coming?
I didn't know IW has a new IP coming. All I've heard about is that new survival game from Blizzard. I assume new IP that aren't big multiplayer games will probably be exclusive.
 
This in no way improved Microsoft though. Sony don't have a quality problem they have a quantity one now the aren't going to make better games they are going to acquire more.
Bolsters the heck outta gp, now people know with Xbox you get a free cod game a year etc
 
Ms could easily free a lot of those studios up and make just treyarch the cod developer or iw etc….
Not if they want to keep the yearly release schedule. Best case Microsoft buys some support studios for the COD factory and toys for bob can be released from the COD salt mine. That would take years to buy and integrate new support studios to free anyone up.
 
Man....I love (most) of you guys. This has been one hell of a ride.

I Love U Ily GIF by i-love-you





;)
 
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Not if they want to keep the yearly release schedule. Best case Microsoft buys some support studios for the COD factory and toys for bob can be released from the COD salt mine. That would take years to buy and integrate new support studios to free anyone up.
Possibly ms would experiment with the direction cod was supposed to go this year.
 
This is a pretty stupid argument when you think about how much money MS has compared to Sony.

Sony's only job now is to get themselves acquired by the best of a small number of companies as big and influential and powerful as MS. Apple, Google, Amazon are basically the only 3 American options because of the sheer dominance of American Big Tech over all other companies.

MS is powerful enough basically tell a sovereign nation state's government (the UK) that they are going to acquire a company and there is nothing they can do to stop it. There aren't a lot of companies in the world with that kind of power, and fewer in Sony's various markets. Only the Saudis and the Chinese have the kind of power MS has, and I don't think you want the Saudi PIF or Tencent owning Sony. Then again, the Saudi PIF wouldn't be so bad. The Saudis are very hands off and would allow Sony to operate with minimal interference.
You forgot meta.
 
So what is this list of games this deal costs Sony in the next 3-5 years? COD nope, D4 nope, over watch 2 nope, warzone nope. I guarantee you xbox will lose more games from major studios in the next 3-5 years than this deal will. ABK is a COD factory with a Blizzard release ever few years.
This will not stop at activizion now that not even a 70bn buy has been stopped
 
What am I doing? Pointing out you were incorrect.
T2 and Zynga merged. T2 didn't acquire them. There is a difference. That's it.
When a company merges they can leverage a greater level of capital. By swapping shares it means they don't have to pay in cash, which they most likely didn't have, or couldn't get.

Which has ZERO bearing on Sony's ability to make a huge purchase like T2. Which is what you've been arguing against. Making up excuses like Sony wouldn't buy something worth a substantial amount of their market value when other companies have done just that. I used T2 as an example. You wanted to get pedantic and argue that part of that was stock swaps, basically. No shit. That still left $6 billion in cash to have to fork over. Which was roughly 33% of their market value late last year and almost 25% of it now. It was a huge purchase relative to their market value either way. Which you've been stuck on, but have no good reason for why that would prevent Sony from doing so. You've presented no solid argument for Sony lacking capability or intent. Both of which you claimed they don't have. So now you're resorting to nitpicking insignificant details. Not surprising coming from someone who laugh reacted to a purely factual post and has since made ridiculous remarks that are the realm of fanboyism.
 
Yea dude. Sony gets acquired for the sole purpose of having a sugar daddy?

I think not. Sony can make other moves. I also believe there's a limit to what Microsoft will be able to do before the courts do see it as anticompetitive, even with this decision going in their favor.

I think Sony goes after Square-Enix. I think Konami is on the table. I think Capcom is up for grabs. Take two...I don't know that Sony can afford it. They're valued at 25 billion.
Yes, because Sony is a comparatively tiny company compared to MS and they absolutely need a sugar daddy if they really want to do acquisitions.

If they can't even afford T2 at $25 billion then they are done. They can't compete with the company with the world's 2nd largest value by market cap. MS makes more revenue in a year than Sony's entire company market valuation.

Sony will not survive unless they are acquired, period. If they do nothing they will just go bankrupt after MS has bought the entire industry and made it Xbox exclusive. If they get acquired ASAP, and then the acquiring company is able to make defensive acquisitions besides Sony, then it's possible to establish a Cold War like scenario where no one can risk making what they own exclusive to one platform without the other making what they own exclusive, a kind of Mutually Assured Destruction. I've said this before, if whoever owns Sony for example owns EA and therefore controls Madden and The Franchise Formerly Known As FIFA, they can threaten to make those exclusive if MS makes CoD exclusive. That's the only way forward now.
 
As someone who only buys playstation, bethesda bought didn't really strike me as ''pro consumer'' because it literally made me buy a pc just to be able to play this game and others (any savings I might have had with the gamepass are gone with the purchase of new hardware)

''but playstation players are minorities in relation to the potential market of other platforms benefited''

It's really not true if we consider some countries like the United Kingdom, where playstation sells by a large margin in relation to the competition, which makes CMA's decision to block the purchase and protect the majority of consumers in the country understandable.

''but sony also takes games from competitors''

I really don't remember any time that sony spent 70 billion for this, right after having spent 7 billion
Consumers can move if they want. The definition of competition is one company trying to injure another to increase their customer base. It then relies on that injured company to then become more competitive and to then injure the other company. The idea is that by this happening the customer gets more choice and a better deal.

"Business competition is the contest between organizations that provide similar products or services or that target the same audience of consumers. Businesses compete to convert and retain customers, increase revenue and gain more market share."

So the conversion of PlayStation owners to Xbox owners because of MS having more exclusives than Sony is the actual desired outcome of competition.
All business relies on selling something, so that means you buying something. You having to go out and buy a PC to play Bethesda is fine.
 
Not sure if this works on browser but it works with the Yahoo Finance app (just choose to proceed as guest if you don't want to give them your info)


Just to throw some cold water on this:

Stanford Law Professor Doug Melamed, however, said he believes it's unlikely the appeals court would rule before the deal's deadline on July 18.

"It's extremely unlikely that the FTC could persuade the Court of Appeals to enjoin the merger before July 18," said Melamed, a former Justice Department antitrust official.

Incoming tax dollar wasting, ego-driven, vanity appeals battle.
 
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How does that improve Microsofts quality of output it's the same game.
Because you are getting it for free with gamepass that plus the catalog gp will have in a year or so is a big yes for casual gamers. Some people only buy madden and cod every year getting one of those for free plus a huge library for pretty cheap has great appeal.
 
IMO, here's what happened:

1. MS/Activision announce deal

2. It's a giant deal so governing bodies around the world look into it

3. CMA blocks it. Every other country except FTC oks it. CMA knew they had nothing to go, but held out as long as possible waiting to tag along the FTC as a big two man brick wall if FTC wins

4. FTC ends up losing. So instead of CMA standing firm like they have the whole time, they were bullshitters and announce they'll wheel and deal on concessions literally an hour after the FTC lost this morning.

What happened is if tons of countries all jumped on board to block, they were thinking MS/Activision wouldn't bother legally going after it in 10 different countries. Turns out it winded down to only two. MS says "Hey? Only two? We'll forge ahead!" CMA shitting bricks and the only way they'd keep up the fight is if the US FTC wins, so they could latch on as a tandem. If FTC loses, they bail because they had nothing the whole time.
Yep GIF by The Pozek Group
 
Because you are getting it for free with gamepass that plus the catalog gp will have in a year or so is a big yes for casual gamers. Some people only buy madden and cod every year getting one of those for free plus a huge library for pretty cheap has great appeal.
That doesn't make the game better.
 
Consumers can move if they want. The definition of competition is one company trying to injure another to increase their customer base. It then relies on that injured company to then become more competitive and to then injure the other company. The idea is that by this happening the customer gets more choice and a better deal.

"Business competition is the contest between organizations that provide similar products or services or that target the same audience of consumers. Businesses compete to convert and retain customers, increase revenue and gain more market share."

So the conversion of PlayStation owners to Xbox owners because of MS having more exclusives than Sony is the actual desired outcome of competition.
All business relies on selling something, so that means you buying something. You having to go out and buy a PC to play Bethesda is fine.
There is competition to provide a better service, and there is competition to make another competitor's service worse, without improving the offer of games on your service (these games already existed on it)
I don't know if a judge would accept a purchase on that scale if they understood it that way
 
Which has ZERO bearing on Sony's ability to make a huge purchase like T2. Which is what you've been arguing against. Making up excuses like Sony wouldn't buy something worth a substantial amount of their market value when other companies have done just that. I used T2 as an example. You wanted to get pedantic and argue that part of that was stock swaps, basically. No shit. That still left $6 billion in cash to have to fork over. Which was roughly 33% of their market value late last year and almost 25% of it now. It was a huge purchase relative to their market value either way. Which you've been stuck on, but have no good reason for why that would prevent Sony from doing so. You've presented no solid argument for Sony lacking capability or intent. Both of which you claimed they don't have. So now you're resorting to nitpicking insignificant details. Not surprising coming from someone who laugh reacted to a purely factual post and has since made ridiculous remarks that are the realm of fanboyism.
You are totally missing the boat.
Sony could try a merger with T2 and get them. It would be easier for them to do it that way rather than coming up with the cash.
You don't take getting corrected well at all do you?
 
What really amazes me is the belief that consolidation and taking away access to resources drives competition.

If you want to say "you're all fucked", just say it. :messenger_winking:
Depends what side of the fence someone is.

Xbox gamers = winner

PC gamer = winner

Nintendo gamer = winner assuming that 10 year COD deal comes true

Cloud streamer = winner

PS gamer = right at this point, no effect. Sony still has another 2 years of COD deals signed. In future if MS cuts the cord they'll be a loser in the deal.

Sounds like net winners to me in the grand scheme of things.
 
As someone who only buys playstation, bethesda bought didn't really strike me as ''pro consumer'' because it literally made me buy a pc just to be able to play this game and others (any savings I might have had with the gamepass are gone with the purchase of new hardware)

''but playstation players are minorities in relation to the potential market of other platforms benefited''

It's really not true if we consider some countries like the United Kingdom, where playstation sells by a large margin in relation to the competition, which makes CMA's decision to block the purchase and protect the majority of consumers in the country understandable.

''but sony also takes games from competitors''

I really don't remember any time that sony spent 70 billion for this, right after having spent 7 billion
So your argument is Sony has a monopoly is Europe?
 
Sony will not survive unless they are acquired, period. If they do nothing they will just go bankrupt after MS has bought the entire industry and made it Xbox exclusive. If they get acquired ASAP, and then the acquiring company is able to make defensive acquisitions besides Sony, then it's possible to establish a Cold War like scenario where no one can risk making what they own exclusive to one platform without the other making what they own exclusive, a kind of Mutually Assured Destruction. I've said this before, if whoever owns Sony for example owns EA and therefore controls Madden and The Franchise Formerly Known As FIFA, they can threaten to make those exclusive if MS makes CoD exclusive. That's the only way forward now.

Your username is appropriate, because this is exactly the kind of Domino Theory thinking that led to the Vietnam War.
 
So your argument is Sony has a monopoly is Europe?
Market dominance is not the same as monopoly; Monopoly is the impossibility of competition, which is not the case with microsoft; She's just incompetent in increasing the margin in the European market without compromising competition
 
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Yes, because Sony is a comparatively tiny company compared to MS and they absolutely need a sugar daddy if they really want to do acquisitions.

If they can't even afford T2 at $25 billion then they are done. They can't compete with the company with the world's 2nd largest value by market cap. MS makes more revenue in a year than Sony's entire company market valuation.

Sony will not survive unless they are acquired, period. If they do nothing they will just go bankrupt after MS has bought the entire industry and made it Xbox exclusive. If they get acquired ASAP, and then the acquiring company is able to make defensive acquisitions besides Sony, then it's possible to establish a Cold War like scenario where no one can risk making what they own exclusive to one platform without the other making what they own exclusive, a kind of Mutually Assured Destruction. I've said this before, if whoever owns Sony for example owns EA and therefore controls Madden and The Franchise Formerly Known As FIFA, they can threaten to make those exclusive if MS makes CoD exclusive. That's the only way forward now.
What is this fanboy's fantasy bullshit? Sony is still doing fine, why would they need to sell off? (not to mention the fact that Sony is not a no Namer and is protected under Japan national security measure). Are you just paranoid because of this acquisition or are you an xbox fan who wants Sony to be sold to some big tech so it is not longer about Sony versus Microsoft because the past 10 years experience has been too traumatic to the other side? We have not even seen any substantial damage yet the doom and gloom sentiment from some people is all over the place.
 
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