Activision is reportedly eyeing an acquisition of Grand Theft Auto owner Take-Two.
"There are very strong rumours amongst people at a very senior level within the global business," a senior games executive told MCV.
"But there're not much more than that at the moment - they are just rumours. And, of course, given Activision's news this week, everyone is now looking to see what their next move is. But you can definitely put two and two together and make four-ish."
If true, such a move would potentially unite brands like Call of Duty, World of Warcraft, Grand Theft Auto, Red Dead Redemption and BioShock.
In 2008, Activision's chief rival EA unsuccessfully attempted to acquire Take-Two in a deal that would have been worth about $2 billion.
Earlier this week, Activision announced its intention to axe the Guitar Hero business unit in order to focus on more profitable areas of its operations.