Salem Radio Network News Wednesday, July 6, 2022

Business

Sony slides 9% as Microsoft gaming deal casts shadow

TOKYO (Reuters) – Shares in Japan’s Sony Group fell 9% on Wednesday after gaming rival Microsoft said it will buy developer Activision Blizzard 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.

(Reporting by Sam Nussey; Editing by Muralikumar Anantharaman)

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