Sony’s $3.6 billion deal to be scrutinized
According to a new report, the Federal Trade Commission (FTC) is preparing an investigation of Sony’s previously announced intention to acquire studio Bungie. The publisher announced the $3.6 billion USD purchase of the Destiny developer in January of this year.
According to a report by The Information, (as noted by gaming news outlet VGC), Sony will first have to face the FTC’s investigation before the proposed deal can be completed. The commission has been taking a newly focused interest in major trade deals under the current U.S. administration, and as such is called upon to look into big-bucks signing for the potential for Antitrust, Monopolization, or any other questionable business practices.
This does not, of course, mean that Sony’s proposal is a nefarious one. The FTC is also currently investigating Microsoft’s staggering $68.7 billion purchase of Activision Blizzard for similar possibilities. As the video game industry continues its current trend toward mergers, acquisitions, and consolidation, the FTC and the federal government will be keen to make their presence known, eager to make the money-spenders aware that billion-dollar deals can still be blocked on an administrative level.
Despite all the chest-beating, however, it is likely that the Sony/Bungie deal will go ahead, much as Microsoft/Bethesda did back in March of 2021. The Microsoft/Activision Blizzard acquisition remains up in the air, given the incredible sums of money at play, plus Activision Blizzard’s recent controversies — the most recent of which involves a lawsuit filed by the State of New York earlier this week.
Should Sony acquire Bungie, (with the FTC’s blessing), the publisher has already stated that Destiny 2 will remain a multi-platform release. Bungie itself is expected to operate as an independent subsidiary following the sale, and will not be merged into PlayStation Studios as a whole.