With its most recent proposal plans, Microsoft is likely to eventually end up owning Activision Blizzard. The next question, then, would be, what will Sony do if that happens? If you believe a recent report, Sony will retaliate by making a similarly massive acquisition.
The latest word on the grapevine is that Sony will bring out the Brinks truck to buy Take-Two Interactive if Microsoft ends up owning Activision Blizzard.
Believe it or not, Take-Two isn't as large as most believe, and buying it could cost considerably less compared to Activision Blizzard to buy. The holding company behind the developers of NBA 2K (2K Games), Grand Theft Auto (Rockstar Games), and WWE 2K (Visual Concepts) is has a market cap of "only" $20 billion.
You could argue Microsoft started the entire acquisition trend when it bought ZeniMax Media in late 2020 as the COVID-19 hit its peak. Since then, we've seen several bigger companies acquire independent publishers, with Embracer Group paying a relatively small amount to take everything Square Enix owned outside of Japan.
Other similar acquisitions include Sony buying Bungie, Take-Two purchasing Zynga, as well as Electronic Arts acquiring Codemasters.
With that said, it makes a lot of sense for Sony to buy Take-Two. But, if Sony wants to beef up its first-party offerings in preparation for the eventual exclusivity of Call of Duty and several of Activision Blizzard's other titles after 10 years, the best choice is to buy companies like Square Enix, Capcom, and/or Konami.
It should be noted, however, that Take-Two's shareholders are unlikely to want to sell anytime soon, especially with a GTA 6 announcement coming sooner rather than later.
Finally, don't forget that Take-Two makes the bulk of its revenue from microtransactions within its biggest releases. This isn't something you traditionally associate with the PlayStation brand. Sony is better off striking up a partnership with Take-Two instead of buying it outright.
Then again, if Sony feels like Microsoft will snatch up Take-Two next after Activision Blizzard, you can't blame it for reacting. Of course, this all hinges on whether Microsoft will end up owning Activision Blizzard. If it doesn't happen, Microsoft is reportedly considering selling the Xbox brand to interested buyers, which would render all this discussion moot.
Sony is currently riding on a high following the success of HBO's The Last of Us and the positive reception to this month's PS Plus lineup. It's believed that Sony has a much bigger showcase planned ahead of E3 2023.