A recent report by DFC Intelligence states that such a major deal involving a single game developer is a sign that prices for game studios have become so exorbitant that Sony cannot compete with the giants.
“While Sony and Nintendo are giants in the video game space, they are relatively small compared to companies like Microsoft, Google, or Amazon. Sony announced plans to buy game developer Bungie for $3.6 billion. Bungie is an established company, but it only has one game franchise—Destiny. This is a sign that game publisher prices are exorbitant. Sony simply cannot afford to compete through mergers and acquisitions.”
As a reminder, Jim Ryan stated that Sony would make further acquisitions in the future.