Microsoft's acquisition of Bethesda/Zenimax is a pretty huge deal for Xbox and the industry at large. Titles from the Elder Scrolls and Fallout franchises are some of the most popular and highly regarded games of all time. While making Bethesda games Xbox exclusive is very good for Microsoft on its own, the move was also likely made to put Xbox's exclusive offering on par with PlayStation. While Sony has no need (or desire, frankly) to retaliate in the face of this acquisition, there is one studio that could be just as impactful for PlayStation.
Earlier this year, there were rumors circulating about a potential buy-out of key Konami franchises like Silent Hill and Castlevania by Sony. That could still be very possible, but a world where Sony makes an acquisition as large as the Bethesda-Microsoft deal could also be possible. Sony certainly doesn't need to make such an acquisition, even though they could certainly be in a position to do so. If the console maker were planning an acquisition on that scale, Konami would be a sensible target to be acquired as a PlayStation exclusive publisher.
Metal Gear
Of course, while there are several other hugely impactful franchises under the Konami banner, Metal Gear would arguably be the biggest achievement from a Konami acquisition. The Metal Gear Solid franchise has spawned some of the greatest video games in the genre and helped form the action/stealth genre of games. Obviously. there would be a big elephant in the room, depending on Hideo Kojima's involvement or input on future projects. Sony does still have a positive working relationship with Kojima, as evidenced by Death Stranding, so it's not impossible. Either way, a Metal Gear return as a PlayStation first-party game would be the best way to bring back Metal Gear.
Silent Hill
Another powerhouse genre-defining franchise was Silent Hill, which is widely regarded as one of the best horror series of all time. After the unceremonious cancellation of Silent Hills in 2015, fans have wanted more Silent Hill games for a long time. Again, considering Kojima's departure and his heavy involvement in Silent Hills' production, Konami isn't exactly giving fans a vote of confidence. Like Metal Gear, the Silent Hill franchise has gone dark for even longer. Horror games have seen a resurgence lately, with Resident Evil picking up steam again and the slew of horror titles coming to Xbox fans later this year. Having Silent Hill would only benefit Sony further.
Castlevania
Speaking of dormant franchises, considering Konami has several of those, the Castlevania series has been gone since 2014's Lords of Shadow 2. Because of Konami's refocusing towards mobile game revenue, many of Konami's top tier Castlevania developers like Koji Igarashi had moved on to independent efforts with Bloodstained: Ritual of the Night. While Bloodstained continues to receive the support it deserves, the original series that spiritually inspired the game still stays silent. Whether it's another Belmont story or Alucard returns wouldn't really matter to fans, as long as there's more Castlevania.
Suikoden
Diving into the more obscure, but back in the day, Suikoden used to be one of the biggest JRPG franchises of all time. Suikoden excelled at telling character stories, considering the massive amounts of party members which made Persona games seem like they lacked characters in comparison. A story of political intrigue based on a 14th century Chinese novel, Suikoden's vast array of characters and narrative is still very unique to this day. If ever there was any Konami franchises to return, Suikoden would probably be last. But considering the spiritual successor Eiyuden Chronicle was fully funded with stretch goals on Kickstarter, there's still a dedicated fanbase for Suikoden lying in wait.
The Case For a Konami-Sony Acquisition
Those are some of the biggest names in Konami's lineup, but there's still a ton more games that deserve a resurgence as well. At one point, Contra did make a return to gaming, or rather tried. Contra Rogue Corps was a strange attempt at revival for the series' name on a completely different game, which realistically didn't make any sense. The Yu-Gi-Oh! tabletop card game continues to flourish, as well as the Duel Links online card game. Super Bomberman R was a worthy (if a bit lackluster) return for Bomberman. Not to mention the various other IPs Konami owns like Frogger and Pro Evolution Soccer that have done reasonably well in recent releases.
If anything, an acquisition by Sony could at least bring these fantastic game series back into the spotlight. Konami's made it abundantly clear they're taking a break from developing any more triple-A gaming experiences. Theoretically, this means Konami is sitting on a gold mine of established IP that Sony would love to have under the PlayStation first-party banner. Many Kojima and gaming fans in general don't hold a whole lot of respect up to Konami at this point, but shifting those games over to PlayStation first-party could win them back. Now, on the heels of a rumored remake and re-release of Metal Gear Solid and Castlevania games, Sony may actually consider an acquisition.