Even as Microsoft awaits a decision by UK regulators to see if it can finally close its deal to purchase Activision Blizzard, Xbox head Phil Spencer clearly wanted the company to buy an even bigger gaming company a few years ago: Nintendo.
In an internal email from 2020 that was leaked as part of the massive FTC filing, Spencer stated that "Nintendo is the PRIME asset for us today in Gaming". He also writes that has had "numerous discussions" with Nintendo about "tighter collaboration" in the future and that "if any US company would have the best chance with Nintendo we are probably in the best position."
He also said that such an acquisition "would be a career moment and I honestly believe a good move for both companies." However, he was also honest in stating that Nintendo might not be interested, as Spencer said it is "sitting on a big pile of cash." However, he thinks Nintendo could be convinced that "their future exists off their own hardware" but that it could take "A long time" for that to actually happen.
Spencer also mentions in the email that they had discussions on buying Warner Bros. Games in 2020. He mentions that the big issue with that publisher is that Microsoft would not own any of its IP, such as the Batman and Harry Potter titles. Ultimately, Microsoft went with purchasing ZeniMax Media, which includes all of its Bethesda Softworks developers and titles, in 2021 for $7.5 billion. So far, the results of that purchase have been mixed, with solid titles like Hi-Fi Rush and Starfield, and disappointments like Redfall.
We do wonder if a deal for Microsoft to buy Nintendo would actually happen. Even if the two companies agreed to do it, it would face tons of regulatory scrutiny on a level that would make Microsoft"s purchase of Activision Blizzard pale by comparison.