Microsoft's acquisition of Activision Blizzard is the tech giant's second biggest investment in three years. After acquiring ZeniMax Media and effectively sealing Starfield and the next The Elder Scrolls' game as Xbox exclusives, Microsoft is looking to do the same with the likes of Call of Duty, Overwatch, Diablo, Crash Bandicoot, Starcraft, and more. But, while the ZeniMax deal went through, buying Activision Blizzard is going to be a much more fraught journey.
According to a report from The Verge, the merger is still contingent on whether or not regulators give it the greenlight. Furthermore, even if the deal falls through due to an "injunction arising from Antitrust Laws", Microsoft will still have to pay Activision Blizzard anywhere between $2 billion to $3 billion.
The Activision Blizzard acquisition is expected to be finalized by mid-2023, but, as we've said, it's not a sure thing yet. The Federal Trade Commission (FTC) has become increasingly wary of the dangers of monopolies in the tech industry. You could argue that by acquiring Activision Blizzard, Microsoft will have ownership of a handful of the most popular, profitable, and iconic games in video game history.