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Sony Shares Slid Over 4% Premarket as Microsoft Gaming Deal Cast Shadow

Tiger Newspress2022-01-19

Sony shares slid over 4% premarket as Microsoft gaming deal cast shadow.

Shares in Japan's Sony Group fell over 4 % premarket after gaming rival Microsoft said it will buy developer Activision Blizzard in a record $68.7 billion deal for the industry.

The blockbuster acquisition escalates Microsoft’s spending spree to secure intellectual property assets for its Xbox Game Pass service, wiping $20 billion off Sony’s valuation in a day. The push to attract paying subscribers with an overwhelming portfolio of games challenges Sony’s traditional console business model that relies on high-profile exclusive titles and hardware sales. Games and network services account for about 30% of Sony revenue.

While Sony's PlayStation is widely seen as having a lead in the generational battle with Microsoft's Xbox, the purchase of the "Call of Duty" maker comes as Microsoft is aggressively expanding its Game Pass subscription service.

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Comment2

  • Mml
    ·2022-01-19
    Informative 
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  • gain tony
    ·2022-01-19
    [Cry] [What] 
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