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Microsoft bought Activision Blizzard, but Call of Duty did not become an Xbox-only console franchise. The $68.7 billion acquisition closed on October 13, 2023. Microsoft and Sony had signed a binding agreement three months earlier covering Call of Duty on PlayStation for 10 years. Sony secured continued access; Microsoft secured ownership and control of the franchise. The agreement lowered the near-term risk of an Xbox console lockout, but it did not give Sony control of the series or publicly guarantee identical treatment on every platform and service.

What Microsoft bought

Microsoft announced its acquisition of Activision Blizzard in January 2022 for approximately $68.7 billion, often rounded to $69 billion. It completed the transaction on October 13, 2023. The purchase brought Activision Publishing, Blizzard Entertainment and mobile publisher King into Microsoft’s gaming business, along with franchises including Call of Duty, World of Warcraft, Diablo, Overwatch and Candy Crush. Activision’s announcement described an expansion across console, PC, mobile and subscription gaming; Microsoft confirmed the deal’s completion.

The strategic prize was larger than a single game. Activision Blizzard added a major publishing portfolio to Microsoft’s Xbox console, PC, Game Pass and cloud-gaming ecosystem, as well as King’s mobile business. For Sony, the transaction meant that a direct platform rival would own one of the biggest recurring franchises on PlayStation.

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Why Call of Duty became the center of the dispute

Call of Duty matters to a console platform not only because each release sells games, but because it can influence where players spend time, buy downloadable content, play with friends and choose their next console. Sony’s concern was therefore broader than an immediate removal from PlayStation. It argued that Microsoft could use control of the franchise to make Xbox more attractive or PlayStation less competitive in ways that might be difficult to assess from a simple “available or not” test.

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Potential forms of disadvantage included making the series exclusive; giving Xbox users better or earlier content or features; integrating new releases into Game Pass while PlayStation players paid separately; limiting access through Sony’s multi-game subscription or cloud service; or using pricing, marketing, release timing or technical support to favor Microsoft’s ecosystem. Sony was also concerned about Microsoft’s control of future Activision games beyond Call of Duty. The FTC’s challenge similarly focused on possible effects on consoles, subscriptions and cloud gaming.

That was a risk argument, not proof that Microsoft would necessarily choose every tactic. Sony’s business depends on PlayStation software sales, platform fees, subscriptions and a strong installed base; losing a major franchise, or receiving a meaningfully worse version of it, could affect more than the game’s own sales. Sony also pointed to Microsoft’s earlier acquisition of ZeniMax/Bethesda and its decisions about where some games would be released as a reason not to rely only on assurances about future intentions.

Microsoft’s case: keep selling the game widely

Microsoft argued that it had strong commercial reasons to keep Call of Duty available beyond Xbox. PlayStation had a large player base and could generate substantial sales and platform revenue. Making the series exclusive could sacrifice that business, and the company argued that broad distribution could grow the audience. Microsoft also presented the acquisition as a way to expand games across Game Pass, PC, mobile and cloud services.

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Evidence discussed in court included Microsoft internal acquisition modeling that relied on continued sales on PlayStation and other non-Microsoft platforms rather than assuming Xbox would replace the revenue lost by withdrawing the game. That supported the court’s assessment that the government had not established a sufficient likelihood of immediate foreclosure, though the court did not treat internal models as conclusive. The legal result was not a finding that future competitive harm was impossible; it was that the case to block the transaction had not met the required standard.

What Sony’s 10-year agreement does—and does not—say

Microsoft and Sony signed their agreement on July 15, 2023. The UK Competition and Markets Authority’s published decision describes a 10-year commitment for Call of Duty on PlayStation and notes provisions concerning Sony Interactive Entertainment’s multi-game subscription and cloud services. That is the basis for saying the agreement protected PlayStation access for a defined period. The CMA decision discusses the agreement.

The full contract is not publicly reproduced, so the public record does not justify claims that every future release must have identical content, launch timing, technical features, marketing, downloadable content or subscription treatment across PlayStation and Xbox. Nor does the 10-year term establish permanent PlayStation access, specify a public end date, or automatically cover every Activision Blizzard franchise. A game can remain available on PlayStation while being integrated differently into Game Pass or cloud services.

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In short, this was a meaningful platform-access commitment, not a transfer of ownership to Sony or a publicly detailed guarantee of complete parity. It reduced the immediate risk that Microsoft would simply turn Call of Duty into an Xbox console exclusive; it did not remove Microsoft’s control over the publisher or its future business choices.

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How regulators shaped the outcome

  • January 2022: Microsoft announced the proposed acquisition for about $68.7 billion.
  • December 2022: The US Federal Trade Commission sought to block it, citing risks to console, subscription and cloud competition.
  • July 15, 2023: Microsoft and Sony signed the 10-year Call of Duty agreement.
  • 2023 in the UK: The CMA initially blocked the original transaction over cloud-gaming concerns. Microsoft restructured the arrangement so Ubisoft would receive specified cloud-streaming rights, addressing the CMA’s concern about Microsoft’s control of those rights.
  • October 13, 2023: The CMA accepted the restructured transaction and Microsoft completed the acquisition.
  • May 22, 2025: The FTC’s case page listed its administrative matter as closed.

The FTC did not approve the deal in the sense of endorsing it: it challenged the acquisition but did not stop it, and its matter was later listed as closed. The court’s refusal to block the transaction allowed it to proceed. The FTC’s case page records the later status.

The UK outcome was also not simply an approval based on the Sony agreement. The CMA’s decisive remedy addressed cloud gaming. Under the restructured arrangement, Ubisoft received specified rights to stream Activision Blizzard PC and console games in cloud services outside the European Economic Area, including current games and qualifying games released over the following 15 years. Microsoft’s account of the arrangement says Ubisoft’s rights were structured to continue in perpetuity; Microsoft retained rights needed to meet European Commission commitments, with Ubisoft receiving a non-exclusive EEA licence. These are cloud-streaming rights, not ownership of Activision Blizzard’s catalogue or its intellectual property. See the CMA explanation and Microsoft’s rights FAQ.

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The distinction matters: console publishing and cloud-streaming rights are not the same thing. The UK remedy was designed to prevent Microsoft from having exclusive control of the relevant cloud rights outside the EEA. European and other jurisdictions also involved commitments, but no single global agreement should be assumed to govern every territory, platform and service in the same way.

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What changed for players

Players Practical effect Important limit
PlayStation Call of Duty remained available, and the 10-year agreement reduced the near-term risk of losing the series as a console release. Sony does not own the franchise. Availability does not, by itself, establish identical subscription access, features or commercial treatment.
Xbox Microsoft gained ownership of a major franchise it can use across its console, PC, subscription and cloud strategies. Owning the game does not mean every title is automatically included in every plan or available in every region.
PC Activision Blizzard’s catalogue sits within Microsoft’s broader PC and gaming business. PC availability is a distinct question from PlayStation commitments; it is not evidence of identical terms across platforms.
Cloud gaming Microsoft has integrated selected Activision Blizzard titles into its cloud ecosystem, while the Ubisoft remedy reshaped rights in response to UK concerns. Availability depends on the game, service, licence and territory. EEA rules should not be assumed to apply worldwide.

Microsoft said in its one-year update that Activision Blizzard games had begun appearing in Game Pass and selected titles, including Call of Duty, were available through Xbox Cloud Gaming in connection with its regulatory commitments. The practical question for a player is therefore not just “Which company owns the game?” but also which release, service, subscription tier and regional licence apply.

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Who won the Microsoft–Sony fight?

Microsoft won the central contest over ownership: it acquired Activision Blizzard and gained strategic control of Call of Duty and the rest of the publisher’s business. It accepted platform commitments and a significant cloud-rights restructuring to secure clearance, but it retained the acquisition’s broad commercial upside.

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Sony did not stop the takeover, but it secured a binding access commitment that was more concrete than a general public assurance. That was a meaningful short- and medium-term protection for PlayStation players and for Sony’s platform business. It also leaves Sony dependent on a rival publisher for a major franchise, with the longer-term position after the agreement less certain than before the deal.

Regulators addressed different layers of the dispute. The US challenge did not prevent the acquisition. The UK’s final acceptance depended on restructuring cloud-streaming rights, not simply on the Sony console agreement. For players, the clearest outcome is that there was no immediate Call of Duty Xbox-only console switch, but control of the franchise moved to Microsoft. Continued PlayStation availability, subscription treatment and cloud access remain distinct questions, and the contract’s undisclosed details and regional rights mean they should not be collapsed into a promise of identical service everywhere.

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