Tencent's gaming business :)
(although that would stir up a tonne of $hit)

Here are their holdings.....

• Full ownership of Riot Games, the American developers of Valorant and League of Legends^[160]
• Full ownership of Norwegian publisher Funcom.^[161][162]
• Full ownership of Swedish developer Sharkmob, founded in 2017 by ex-Ubisoft developers and fully acquired by Tencent in 2019.^[163]
• 80% ownership in the New Zealand company Grinding Gear Games, the developers of the game Path of Exile.^{[164][165][166]}
• Approximately 84% ownership in Finnish mobile game developer Supercell, makers of Clash of Clans and Clash Royale^[167]
• 40% ownership of American developers Epic Games, the developer of popular online game Fortnite and widely used proprietary Unreal game engine^[168]
• 20% ownership of Japanese publisher and developer Marvelous which owns G-Mode and the majority of Data East's intellectual properties including: BurgerTime, Joe & Mac, and Magical Drop franchises.^[169]
• 18.6% ownership of Chinese company iDreamSky, which mainly develops and publishes mobile games for the Chinese market.
• 5% ownership of Chinese company Century Huatong, which operates games developed by FunPlus.^[170] Tencent became a shareholder through an investment in Century Huatong's subsidiary Shengqu Games.^[171]
• 17.66% ownership of South Korean mobile developer Netmarble.^[172]
• Approximately 15% ownership of American mobile game developer Glu Mobile^[173]
• 13.54% ownership of South Korean company Kakao, the parent company of South Korean publisher Kakao Games.^[174][175]
• 9% ownership in UK developer Frontier Developments^[176]
• 5% ownership of American holding company Activision Blizzard, the parent company of Activision, Blizzard and King^[173]
• 5% ownership of Swedish publisher Paradox Interactive^[173]
• 5% ownership in France's Ubisoft, purchased from Vivendi following Vivendi's failed attempt to buy out Ubisoft in March 2018^[177][178]
• 1.5% ownership of South Korean company Bluehole, the publisher of PlayerUnknown's Battlegrounds.
• Majority ownership in Switzerland-based mobile game developer Miniclip^[179]
• Capital Investment in Japanese developer PlatinumGames^[180]
• Capital Investment in Reddit^[181]
• Minority share in German developer Yager Development^[182]
• Minority ownership of French mobile game developer Voodoo^[183]
• Major share in Sweden's 10 Chambers Collective, the developer of GTFO^[184]

Cap for 69 billion

Where was that from? But I think Activision has done soooooo much damage to Blizzard as a whole these past 10 years that it would take almost an equal amount of time to restore Blizzard to their former glory. It's sad that so many Blizzard vets have gone on to make new companies with a lot of that Blizzard talent. Still looking forward to those new company's games, but Blizzard though, might be on a course of no return that even Microsoft can pull them back from.

From that list I would say Squeenix would go the furthest in rounding out their studios, but really I don't want MS to purchase any more publishers.

I think Sega would be the best one for Microsoft. Be able to finally get a hold into the Japanese market. Plus, Sega and Microsoft have a pretty strong relationship in the past. The original duke controller on the og xbox was based on the dreamcast controller and Sega brought many of their franchises exclusively to the xbox after discontinuing the dreamcast. I remember playing panzer dragoon orta and jet set radio future on xbox. Be great to have those franchises again on xbox.

I mean I think the idea is it be a somewhat reasonable acquisition target.

Tencents market cap was $664.5 billion in July 2020.

They're building a 21 million square foot city the size of Monaco in Shenzhen- they're in the process of buying Leyou for $1.4 billion and are investing $70 billion in digital infrastructure in Beijing. 

Not only would they not sell, MS can't afford them.

SEGA WILL NEVER HAPPEN BECAUSE MS is not getting a games company!

Sammy and SEGA are merged. You cannot separate the two. SEGA games is only one part. Sammy operated HOTELS around the world. They are a toy company and a Pachincho company they manufactures the machiens and runs arcades. MS has ZERO interest in operating all this. This would be the only way for MS to buy SEGA. There is literally ZERO chance of them buying SEGA as SEGA is part of Sammy. it would take years to seperate the business operations of SEGA from Sammy. SEGA is not a division under Sammy, SEGA IS Sammy and Sammy is SEGA.

No one....earn it on their own merits. They have enough companies to make great games, now do it.

No one. But since they are going to keep purchasing devs, as long as it is one I don't usually play games from I don't really care.

Epic Games.