Microsoft's $69bn deal with Activision: Winners, losers, and the future of gaming

Microsoft's $69 billion acquisition of Activision Blizzard has been approved by an American appeals court, following a federal judge's clearance. Sony and Microsoft have agreed to keep "Call of Duty" on Sony's PlayStation console, relieving Sony's fear of being cut off from the game. However, the agreement is limited to "Call of Duty" and does not include other popular Activision titles. Microsoft hopes the deal will help it succeed in mobile gaming, particularly in Asia. The biggest winners from the deal may be other game developers, as Microsoft's regulatory success makes them less likely to be challenged in potential acquisitions.