Sony Stock Took a $20 Billion Hit After Xbox's Activision Deal - IGN Daily Fix
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Sony's stock reportedly took a $20 billion dollar hit after Xbox announced that it is set to acquire Activision Blizzard. As detailed in a report by Bloomberg, Sony Group Corp. shares reportedly fell by 13% in Tokyo on Wednesday - just a day after Microsoft announced its $68.7 billion deal with Activision Blizzard. As per the report, the drop itself is the largest single fall in Sony stock since October 2008.
Activision Blizzard reportedly considered buying video game media outlets Kotaku and PC Gamer in a bid to change public opinion of the company. A new report published by the Wall Street Journal delving into the circumstances surrounding Microsoft's recent acquisition of the publisher alleges that Activision Blizzard CEO Bobby Kotick may have discussed attempting to purchase a video game publication prior to the deal in order to change his company's public image.
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