According to Twitter account SEGAbits, Sega was set to be announced as a Xbox Game Studios at at E3, so could there be any truth to this? According to this alleged leaked image, on June 14th, Sega was set to announce that they were acquired by Xbox. Of course with Covid-19 and the cancelled E3, if this announcement was true, then it is more than likely it is delayed or moved to a different date. Microsoft did announce that they would do an all digital event, but with the future being so uncertain that too may be rescinded soon as it is hard to imagine them announcing hard release dates for games.
While Sega joining Xbox could be a stretch for some, with Yakuza joining Xbox and Xbox Game Pass in recent months, it is not that far fetched. Besides the Yakuza franchise, Sega could bring exclusives to Xbox like Sonic, who just had a huge success with the recent movie, and possibly a port of Shenmue 3. Shenmue 3 was a Sony/PC exclusive mainly because Sony helped back the funding for it, but if Microsoft owns the studio a port could be coming to Xbox as well as a Shenmue 4. A few years ago a Shenmue 1 and 2 port was put on both Microsoft and Sony’s consoles, leading speculation of a Shenmue 3 port to Xbox even more enticing.
Either way we won’t know for sure until Microsoft does show their hand for their E3 presentation and Xbox Series X console later this year.