Good content is hard to find. Look at Microsoft. It is paying US$69 billion to acquire Activision Blizzard and by extension, the rights to that company’s marquee video game franchises, including Call of Duty.
That is still less risky than the alternative: building games from scratch. Budgets can balloon and all the outlay does not guarantee success. A new game can bomb and hobble the entire business, as the botched release of Cyberpunk 2077 showed. Shares of CD Projekt still trade at just about 70 percent of the high recorded before that disastrous launch.
There is another way. As Microsoft, Sony
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