I agree COD is bigger but it won't be exclusive to xbox. Bungie aren't even close to square enix in terms of console games. They don't even own there most successful series, All they have is destiny.
I think you're overestimating the size of Square Enix. Their market cap is $5.8 billion, which would translate to like $8.2 billion for an acquisition. Basically double what Bungie cost, and an 1/8th of what Activision costs. They're substantially smaller than Take Two or EA or even Bandai Namco. I don't see any reason that deal would get blocked from a console standpoint. The bigger issue would be that Square also publishes Manga, which might be a conflict with Sony's anime, since Sony controls a large chunk of that market.
Square Enix pretty much has 3 big franchises (Dragon Quest, Final Fantasy and Kingdom Hearts). They don't own DQ, and KH is tied into Disney.
Final Fantasy isn't a monster franchise. It's sold well consistently for decades. But the bigger games sell less than God of War even does. It is a huge franchise, but it's not some monster money maker in the same category as GTA or CoD.
What do you guys think of the crazy possibility of Sony buying Valve?
It's the one purchase I could see Sony going all out for but its also one of the few deals that would get blocked lol. But when I think about it, aside from Take Two or EA, its one of the few acquisitions that could "counter" Microsoft acquiring Activision Blizzard.
I don't see why Valve would sell, I think Gabe is pretty happy to do his thing.
And I don't see why Sony would go all out for it. The vast majority of the value that Valve has is tied into their store. Which is absolutely valuable, but it doesn't help their console, it doesn't help their mobile push.