Microsoft is making a huge move as it plans to buy out Activision Blizzard. This comes after a tumultuous time for the videogame company’s leadership.

Microsoft’s move

Jason Schreier provided details regarding this huge deal as the said report came from the Wallstreet Journal. In his tweet, he stated that the WSJ revealed that Microsoft would purchase Activision Blizzard, which was described as the troubled publisher behind “Call of Duty” and “World of Warcraft.” Schreier described Microsoft’s move as a seismic gaming deal, since it is expected to create a huge shift in power within the gaming industry.

For the uninitiated, the game publisher has been riddled with controversy over the past year due to several reports of discrimination and sexual misconduct, Dexerto reports.

Microsoft even confirmed it on a blog posted on their website. Per the software giant’s statement, it noted that they have plans to acquire Activision Blizzard, adding that such a decision will “accelerate the growth in Microsoft’s gaming business across mobile, PC, console, and cloud and provide building blocks for the metaverse.”

Activision Blizzard buyout completion

Activision Blizzard CEO Bobby Kotick also confirmed the looming acquisition, and this will be completed in June of 2023.

In line with this, Microsoft stated that by the time the transaction comes to a close, it would become the third-largest gaming company in terms of revenue, behind Tencent and Sony. It further explained that the planned takeover will include iconic franchises from Activision Blizzard and King studios like “Call of Duty,” “Warcraft,” “Diablo,” “Overwatch,” and “Candy Crush.”

$300 million for Kotick

It is said that Microsoft will be acquiring Activision’s massive portfolio of the videogame mentioned above developer studios and games come June next year.

In an internal email, Kotick told employees about his intentions to hold on to his position “for the foreseeable future.” However, reports stated that the CEO would be leaving his role if the acquisition had been finalized. This alongside a possible payout amounting to $300 million provided that he gets booted out.

Part of Activision Blizzard’s CEO stated that such transactions could take a long time to complete.

Further, Kotick noted that until they get the entirety of the necessary regulatory approvals alongside other customary closing conditions are met (which will be around Microsoft’s fiscal 2023 year that ends on June 30 of next year), he stated that the game publishers would be operating autonomously.