For anybody doubting Microsoft's absolute desperation,
watch the CAT tribunal hearing which is currently taking place (presently in a ten minute adjournment).
For background, the CMA, Microsoft and Activision-Blizzard, asked the Lord Justice Smith (the judge) to adjourn the appeal two weeks ago which he dismissed as being without merit. For this afternoon's trial, all parties (CMA, Microsoft and Activision-Blizzard) they have bet everything on whatever deal Microsoft made with Sony over the weekend, which they cannot disclose in court. Early in the proceedings Microsoft asked the judge to cease streaming which he rejected, so we were able to witness the near begging for him to adjourn the appeal they insisted on.
The CMA are minded to re-view but cannot do it quickly, and not without sight of material changes in circumstance. Because the CMA cannot commit to a change in decision, the judge is not convinced.
Thus far, Microsoft, nor the CMA, can provide a legal basses for him to adjourn the case but it's been fascinating watching Microsoft's lawyers trying to convinced the judge why he should "just trust the reasonable people involved" - literal quite. Comedy gold!
If Microsoft bet everything on Sony signing that contract, it's mostly definitely in Sony's favour. The jury - or at least the judge - is out on whether that bet will pay off for them.