> Sony shares fell 13% in Tokyo on Wednesday, their biggest drop since October 2008, after PlayStation rival Microsoft announced a $69 billion deal to acquire games publisher Activision Blizzard Inc. > The blockbuster acquisition escalates Microsoft’s spending spree to secure intellectual property assets for its Xbox Game Pass service, wiping $20 billion off Sony’s valuation in a day. The push to attract paying subscribers with an overwhelming portfolio of games challenges Sony’s traditional console business model that relies on high-profile exclusive titles and hardware sales. Games and network services account for about 30% of Sony revenue. www.bloomberg.com/news/ar…ion-deal