The $68.7 billion deal between Microsoft and Activision Blizzard completely subverted the whole industry and surprised almost everyone. Today, some new information revealed what would happen if the deal failed. In a public document issued by the securities and Exchange Commission (SEC), some new details about the merger of Microsoft games and mobile TV were disclosed. The document describes some of the terms of the upcoming deal between Xbox and Activision Blizzard. According to the termination clause of the agreement, if the transaction fails under certain circumstances: If the transaction is terminated before January 18, 2023, Microsoft needs to pay $2 billion to Activision Blizzard. If a termination notice is provided after January 18, 2023 and before April 18, 2023, a fee of $2.5 billion will be required. If the termination notice is provided after April 18, 2023, Microsoft must pay Activision Blizzard a total of $3 billion. In order for the transaction to proceed smoothly, Microsoft still needs to obtain the approval of Activision Blizzard shareholders and regulators. However, due to the circumstances of the transaction itself, the transaction is likely to proceed smoothly. (Xinhua News Agency)