Analyst: Xbox undergoing a "reverse acquisition" as Halo moves under Activision

After announcing 3,200 job cuts across Xbox in FY27, Microsoft moved Halo, Rare and World's Edge under Activision Blizzard, while Bethesda Game Studios now manages Obsidian. NYU analyst Joost van Dreunen calls it a "reverse acquisition," noting the $69 billion Activision purchase now runs the studios Microsoft built itself.

• Microsoft is cutting 3,200 Xbox jobs through FY27, with 268 already gone
• Halo, Rare and World's Edge moved under Activision Blizzard
• Bethesda Game Studios now manages Obsidian Entertainment
• Playground Games and Turn 10 merged in the reshuffle