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Nov.9,2023
It took 10 years to create a pancake for The Elder Scrolls 6? The Microsoft hearing was truly explosive! Last year, Microsoft's acquisition of Activision Blizzard for a whopping $68.7 billion made waves in the gaming industry. This acquisition not only set a record for the largest deal in gaming history but also sparked a wave of acquisitions within the industry. The original deadline for this transaction was set for July 18, 2023. If the acquisition were to fail, Activision Blizzard would receive a hefty "breakup fee" of up to $30 billion. Of course, Microsoft is not willing to let the deal fall through, as they've spent over a year on this acquisition, and paying out $30 billion as a breakup fee would be a significant setback. However, the deal is currently pending approval from the UK Competition and Markets Authority (CMA) and the US Federal Trade Commission (FTC). CMA rejected the acquisition on the grounds that it was concerned Microsoft might monopolize the cloud gaming sector. FTC also applied for a temporary restraining order based on antitrust concerns. This lawsuit will consist of a 5-day hearing to review whether Microsoft is in violation of antitrust laws. During the ongoing hearings, Microsoft's intentions to acquire other gaming industry companies, such as SEGA and Bungie, have been disclosed in a decision document. The document states that acquiring Bungie would provide valuable IPs and integrate "Destiny" along with its development and service operations into Xbox Game Studios. This internal document was sent to the CEO and CFO in November 2020 as an approval request for contact with SEGA for the purpose of acquisition. However, Nintendo, another member of the "big three" gaming companies, was not included in this list. Microsoft's rationale for excluding Nintendo was that the acquisition cost would be too high. Although internal documents were exposed suggesting that "Microsoft is interested in acquiring Nintendo," they now claim the cost is too prohibitive. It's worth noting that during the ongoing FTC trial, many top executives from various gaming companies have been invited as witnesses, including Jim Ryan, CEO of Sony Interactive Entertainment. When asked by FTC about exclusivity and Microsoft's acquisition of Bethesda, Phil Spencer, Head of Xbox, stated that exclusivity is a normal part of contemporary gaming business, and Sony has more exclusive games. FTC then inquired whether "The Elder Scrolls 6" would also be exclusive to Xbox and PC, to which Phil Spencer replied that it's too early to consider such details since the game won't be released for another five years. If Phil Spencer's statement holds true, it means "The Elder Scrolls 6" might not be available until at least 2028. Keep in mind that the game was first showcased at E3 in 2018 when the 9th generation XS series consoles were not even on the market. By 2028, the 10th generation consoles may have been released. In any case, it's clear that Microsoft has ambitious plans, and their consideration of acquiring multiple companies is aimed at expanding their gaming market. The 5-day hearing is ongoing, and it's uncertain whether Microsoft can obtain FTC's approval for this transaction. However, some revelations, like "The Elder Scrolls 6 having a 5-year development cycle," are just disappointments and cause unnecessary anxiety for gamers.
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