Microsoft to acquire Activision Blizzard in $68.7 billion deal

Microsoft announced plans to acquire Activision Blizzard, the video game company behind blockbuster hits like "Warcraft," "Overwatch" and "Call of Duty," in an all-cash transaction valued at $68.7 billion. Microsoft says that the move will make the company the third-largest gaming company by revenue, after Tencent and Sony.