MICROSOFT'S plan to buy video game giant Activision Blizzard for $68.7 billion could have major effects on the gaming industry, transforming the Xbox maker into something like a Netflix for video games by giving it control of many more popular titles.

But to get to the next level, Microsoft must first survive a barrage of government inquiries from New Zealand to Brazil, and from United States regulators emboldened by President Joe Biden to strengthen their enforcement of antitrust laws.

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