This post was originally published on this site
TOKYO (Reuters) – Shares in Japan’s Sony (NYSE:SONY) Group fell 9% on Wednesday after gaming rival Microsoft (NASDAQ:MSFT) said it will buy developer Activision Blizzard (NASDAQ:ATVI) in a record $68.7 billion deal for the industry.
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.
