> Because acquisitions make markets less competitive, not more.

This is just simply not true as a blanket rule.

Also, I don't understand what you're saying. Activision is not in the console market, only Microsoft is. Buying Activision makes the console market more competitive because it makes Microsoft's console more compelling in that market, a market where they are floundering.

You could also look at the game market, which as you say has a zillion US companies making games, and Activision under Microsoft would have to continue to compete in that market.

How does this reduce competition, and in what market?