Microsoft seriously considered acquiring Sega and Bungie to

Other studios, including IO Interactive and Zynga, were also on Xbox's watchlist.

Xbox Wanted to Acquire Sega (and Bungie)

Microsoft Was Serious About Acquiring Sega, Bungie, And Other Gaming Studios For Xbox Game Pass Subscriptions - Gizbot News

SEGA & Bungie Included In Huge List Of Companies Xbox Has Considered Acquiring

Sega not open to acquisitions from Microsoft, or elsewhere

SEGA Remains 'Very Close' With Xbox, But Isn't Open To Acquisition Talks Right Now

Xbox Acquisition, OT7

Microsoft Wanted To Acquire Sega and Bungie

Sega COO Quashes Talk of Microsoft Deal in Favor of Independence

Xbox Acquisition, OT6

Spending Sony Out of Business.” 5 Bombshells From Microsoft's FTC Hearing

Xbox Seriously Considered Acquiring Sega, Bungie, IO, and Others to Fill Content Gaps

Microsoft considered purchasing Bungie and Sega

Microsoft Plans to Acquire Bungie and Sega