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They don’t but they should to stay competitive.
I would agree they don't NEED to, but if only to keep good studios out of the competition's hands. Ninja Theory and Obsidian are disappointing loses.
Sometimes buying a studio isn't about gaining something but rather about making sure that your competition doesn't have that something. It is important that Sony buys stuff or they risk letting MS purchase all the talent.
They just need to stop censoring them
Sure, they'll still dominate without acquiring studios, but why not? What's the harm in expanding?