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Microsoft Microsoft buying Activision Blizzard will benefit customers

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Origin Entry: Microsoft's Acquisition of Activision Blizzard

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os PAGELOW 2018 Ryan Pagelow BUNICOMIC.COM

From: To: Sent: Subject: Phil Spencer </O=EXCHANGELABS/OU=EXCHANGE ADMINISTRATIVE GROUP (FYDIBOHF23SPDLT)/CN=RECIPIENTS/CN=MICROSOFT.ONMICROSOFT.COM-55760-PHIL SPENCER> Chris Capossela; Takeshi Numoto 8/6/2020 12:03:02 AM RE: random thought Takeshi, I totally agree that Nintendo is THE prime asset for us in Gaming and today Gaming is our most likely path to consumer relevance. I've had numerous conversations with the LT of Nintendo about tighter collaboration and feel like if any US company would have a chance with Nintendo we are probably in the best position. The unfortunate (or fortunate for Nintendo) situation is that Nintendo is sitting on a big pile of cash, they have a BoD that until recently has not pushed for further increases in market growth or stock appreciation. I say "until recently as our former MS BoD member ValueAct has been heavily acquiring shares Nintendo (https://www.reuters.com /article/us-nintendo-valueact-exclusive-idUSKCN2232VT) and I've kept in touch with Mason Morfit as he's been acquiring. It's likely he will be pushing for more from Nintendo stock which could create opportunities for us. Without that catalyst I don't see an angle to a near term mutually agreeable merger of Nintendo and MS and I don't think a hostile action would be a good move so we are playing the long game. But our BoD has seen the full writeup on Nintendo (and Valve) and they are fully supportive on either if opportunity arises as am I. Phil Confidentially we have two fairly active M&A discussions in Gaming right now, Warner Brothers Interactive and ZeniMax. I took ZeniMax to the BoD last week and prior to the BoD discussion I asked Amy and Satya if they wanted me to slow either or both of these given the TikTok discussions and they both emphatically told me "no". They are fine doing all 3 of these if the deals make sense. I won't say WB or Zeni is Nintendo but both are for sale and gettable by us if things align. Biggest obstacle in WB is IP ownership, we wouldn't own any of the IP which hurts long term flexibility and the only obstacle on Zeni is valuation expectations of founders. But I think it's likely one or both of these happen which will help us continue to double down on our Gaming relevance. To give a sense of scale, ZeniMax is about the size of our current first party studios org, so that would be doubling our content asset. Downside more core, less bro more north American/European etc. I love this discussion and value you looking at the opportunities here. At some point, getting Nintendo would be a career moment and I honestly believe a good move for both companies. It's just taking a long time for Nintendo to see that their future exists off of their own hardware. A long time.... :-) S 20 Uh... I can explain.

Beenox Microsoft RAVEN SPOD FOTO WIADRDE. You have freed us! TOYS BOB Microsoft RAVEN SUOJO FOTO WADRIE Oh, I wouldn't say "freed", more like "under new management."

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The Ninjas ain't gonna be happy about this...

From: To: Sent: Subject: Phil Spencer </O=EXCHANGELABS/OU=EXCHANGE ADMINISTRATIVE GROUP (FYDIBOHF23SPDLT)/CN=RECIPIENTS/CN=MICROSOFT.ONMICROSOFT.COM-55760-PHIL SPENCER> Chris Capossela; Takeshi Numoto 8/6/2020 12:03:02 AM RE: random thought Takeshi, I totally agree that Nintendo is THE prime asset for us in Gaming and today Gaming is our most likely path to consumer relevance. I've had numerous conversations with the LT of Nintendo about tighter collaboration and feel like if any US company would have a chance with Nintendo we are probably in the best position. The unfortunate (or fortunate for Nintendo) situation is that Nintendo is sitting on a big pile of cash, they have a BoD that until recently has not pushed for further increases in market growth or stock appreciation. I say "until recently as our former MS BoD member ValueAct has been heavily acquiring shares Nintendo (https://www.reuters.com /article/us-nintendo-valueact-exclusive-idUSKCN2232VT) and I've kept in touch with Mason Morfit as he's been acquiring. It's likely he will be pushing for more from Nintendo stock which could create opportunities for us. Without that catalyst I don't see an angle to a near term mutually agreeable merger of Nintendo and MS and I don't think a hostile action would be a good move so we are playing the long game. But our BoD has seen the full writeup on Nintendo (and Valve) and they are fully supportive on either if opportunity arises as am I. Phil Confidentially we have two fairly active M&A discussions in Gaming right now, Warner Brothers Interactive and ZeniMax. I took ZeniMax to the BoD last week and prior to the BoD discussion I asked Amy and Satya if they wanted me to slow either or both of these given the TikTok discussions and they both emphatically told me "no". They are fine doing all 3 of these if the deals make sense. I won't say WB or Zeni is Nintendo but both are for sale and gettable by us if things align. Biggest obstacle in WB is IP ownership, we wouldn't own any of the IP which hurts long term flexibility and the only obstacle on Zeni is valuation expectations of founders. But I think it's likely one or both of these happen which will help us continue to double down on our Gaming relevance. To give a sense of scale, ZeniMax is about the size of our current first party studios org, so that would be doubling our content asset. Downside more core, less bro more north American/European etc. I love this discussion and value you looking at the opportunities here. At some point, getting Nintendo would be a career moment and I honestly believe a good move for both companies. It's just taking a long time for Nintendo to see that their future exists off of their own hardware. A long time.... :-) S 20 Uh... I can explain.

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The worse possible outcome, since the Moderation Update controversy.

Beenox Microsoft RAVEN SPOD FOTO WIADRDE. You have freed us! TOYS BOB Microsoft RAVEN SUOJO FOTO WADRIE Oh, I wouldn't say "freed", more like "under new management."

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Solo dios sabe que destino le espera a ABK...

ACTIVISION BIZZARD BUNICOMIC.COM PAGELOW 2018 Ryan Pagelow AARKANE STUDIOS THE COALITION ACTIVISION BIZZARD KI ACTIVISION BIZZARD GFANBOYEMOS 343 INDUSTRIES

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the exile is real buddy,get on xbox or regrets later :)

From: To: Sent: Subject: Phil Spencer </O=EXCHANGELABS/OU-EXCHANGE ADMINISTRATIVE GROUP (FYDIBOHF23SPDLT)/CN=RECIPIENTS/CN=MICROSOFT.ONMICROSOFT.COM-55760-PHIL SPENCER> Ryan, Jim 5/23/2022 10:00:59 PM Follow up on content discussions Jim, I'm writing to follow up on our prior discussions about Microsoft's intent to honor all existing agreements between Activision and Sony, and our desire to keep Call of Duty on PlayStation. As you'll recall, on January 31, 2022, I sent you a written agreement with my signature memorializing Microsoft's commitments to Sony. Among other things, the proposed agreement provided that Microsoft would keep all existing Activision console titles on Sony, including future versions in the Call of Duty franchise or any other current Activision franchise on Sony through December 31, 2027. I've said before that this is the right thing to do for gamers and for the industry, and I stand by that.

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Property of Microsoft

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...what was that... like... a week?

Hey guys! Welcome! Oh man, we're gonna have so much fun here! Well gbye, seeya. SONY AWD

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"And after Crash Bandicoot, Spyro the Dragon and Tony Hawk had great gaming comebacks. Locked away. Master chief, Banjo Kazooie and Steve from Minecraft to the rescue!"

Archdanty Plo P! 2ITE DREAMS 117 @ArchdanMiiverse Man.. This is what we get for havıng successful comebacks?.. C'mon! Let's get you all out of here! @ArchdanMilverse @ArchdanMiIverse

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Is Conker okay?

AREN'T YOU THOSE SMASH BROS CHARACTERS..? DO YOU REALLY HAVE YOUR OWN GAMES? RARE.. LOOK WHO'S TALKING ABOUT JUST BEING AN INVITED CHARACTER , BARNEY! XBOX SMALL WHERE'S YOUR "SPYRO 4"2 Krma Draws

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What Inspired You to Buy Activision Blizzard?

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Microsoft Becomes the Master of Crafts

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Playstation after Microsoft buys another game company

AlexTremo ... @AlexTremo_uwu Playstation after Microsoft buys another game company I have nothing left. Except Spider-Man. 8:53 AM - Jan 18, 2022 - Twitter for iPhone

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Crash and Banjo are roommates now lol

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