Microsoft Gaming CEO Phil Spencer would really like to buy Nintendo someday. In an August 2020 email to two top Microsoft marketing executives, Spencer wrote that “Nintendo is THE prime asset for us in Gaming” and that “getting Nintendo would be a career moment and I honestly believe a good move for both companies.”

The emails were revealed as part of a tranche of leaked documents from the FTC v. Microsoft lawsuit. One executive, Takeshi Numoto, asked Spencer and Chris Capossela in an email titled “random thought” about why Microsoft isn’t finding acquisition targets like Nintendo a “more attractive” way to “increase our consumer exposure and relevance.” (At the time, Microsoft was in discussions to acquire TikTok, and Numoto didn’t feel…

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