How much did Microsoft pay for Activision Blizzard?

How to get close to this number

Value it as a multiple of earnings. A major games publisher generates a few billion a year in revenue with strong margins, and acquisitions of profitable software companies price somewhere around twenty to thirty times annual profit. That multiple applied to a publisher of this size gives tens of billions.

The scale comparison is what makes it notable: the largest acquisition in video game history and one of the largest technology deals ever made. A single purchase costing more than the annual revenue of most national film industries is a statement about where entertainment money now is.

The regulatory detail is the modern part: nearly two years to clear competition authorities in three jurisdictions. Deals of this size are now decided by regulators as much as by shareholders, and the review process is long enough that market conditions can change materially before a transaction closes.