Sony falls most in almost two years on Microsoft-Activision deal

The Activision Blizzard acquisition by Microsoft has shaken competitor Sony's stocks, as the industry waits and sees how the takeover will shape the landscape. — AFP)

Sony Group Corp. shares fell as much as 9.8% in Tokyo, their biggest intraday drop since March 2020, after PlayStation rival Microsoft Corp. announced a US$69bil (RM289.18bil) deal to acquire games publisher Activision Blizzard Inc.

The blockbuster acquisition escalates Microsoft’s spending spree to secure intellectual property assets for its Xbox Game Pass service, which has been adding paying subscribers by offering them a growing portfolio of games to play.