Microsoft announces new studio 'The Initiative,' acquires Playground Games, Compulsion Games, Undead Labs, and Ninja Theory

Not games, but promises of games!

Uh wow! Microsoft is throwing that money everywhere at E3 this year.

On stage Microsoft boss Phil Spencer announced that not only are they creating a new Santa Monica studio called "The Initiative," but they've also acquired Playground Games, Undead Labs, Compulsion Games, and Ninja Theory.

That's quite a lot of IPs that Microsoft just...owns now, and it's weird to think that they now have their hands in so many franchises, all in an instant.