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Sony slides 9% as Microsoft gaming deal casts shadow

Sony slides 9% as Microsoft gaming deal casts shadow

FILE PHOTO: Sony Corp's logo is seen at its news conference in Tokyo, Japan November 1, 2017. REUTERS/Kim Kyung-Hoon

TOKYO: Shares in Japan's Sony Group fell 9 per cent on Wednesday (Jan 19) after gaming rival Microsoft said it will buy developer Activision Blizzard in a record US$68.7 billion deal for the industry.

While Sony's PlayStation is widely seen as having a lead in the generational battle with Microsoft's Xbox, the purchase of the Call of Duty maker comes as Microsoft is aggressively expanding its Game Pass subscription service.

Source: Reuters/aj

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