Microsoft seriously considered acquiring Sega and Bungie to

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

Sega of America workers form biggest cross-department video game union in the U.S. - Dot Esports

Microsoft wanted to buy Sega, Bungie and Io before Activision Blizzard

Microsoft eyeing up Konami and Sega acquisitions to possibly invigorate waning Xbox console sales in Japan - News

Everything we learned from the Microsoft vs FTC hearing

Microsoft Looked At Acquiring 250 + Game Companies, Including Sega, Bungie, CDPR, And More - Gameranx

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

Microsoft had a list of 100 studios and publishers for possible acquisition - Meristation

Microsoft Looked At Acquiring 250 + Game Companies, Including Sega, Bungie, CDPR, And More - Gameranx

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

Sega is uninterested in being acquired by Sony or Microsoft

Microsoft considered acquiring Bungie and Sega, internal emails show - The Verge

Microsoft considered buying Sega in 2020, and had other developers in mind as well to buy - Neowin

Bungie Is Planning A New Franchise Besides Destiny - GAMINGbible