Xbox's Phil Spencer is staying the course: Microsoft's long-delayed acquisition of Activision Blizzard will happen, he said Sunday.

Spencer made the comments at today's "What's Next For Gaming" Xbox event, where he stressed that "Microsoft is very committed and we are very committed" to the acquisition. A major hurdle to the acquisition is currently the UK's Competition and Markets Authority, which is blocking the deal. Both Microsoft and Activision are appealing the agency's decision. The U.S. FTC has also yet to approve the acquisition.

"We are out to find solutions with regulators who have questions, and that's what we are actively doing," Spencer said, following up by saying that regulators have problems in a number of areas, but Microsoft has spent a great deal of time on this deal. We're trying to find a solution. We did that with the European Commission. I am confident that we will find solutions in other areas. It will take time, it will take focus, but I'm confident."]

This was a nonchalant response, typical of Spencer, whose enthusiasm has not wavered in public since the Microsoft and Activision acquisitions were announced about a year and a half ago, and whose record numbers have caused a stir in the gaming, financial, and media worlds

. If approved, Microsoft's full acquisition of Activision Blizzard would be the largest acquisition of a media company in history. For example, it would roughly equal the amount paid by Disney to acquire 21st Century Fox. It would certainly be a tremendous scale for a video game-related acquisition.

Phil Spencer is not the only one who sees an opportunity. Just this week, a gaming industry analyst at the prominent investment bank Jefferies indicated that there is a real chance that Microsoft could close a deal to acquire the company; as SeekingAlpha reported, Jefferies analyst Andrew Uerkwitz said that the chances of the deal being approved are "more than zero" but "less than half."

This assessment comes after rumors circulated that Microsoft might pull Activision out of the UK market to avoid a takeover and have a local partner take over publishing of Activision and Blizzard games. Says Uerkwitz, "We don't think Microsoft should go this far, nor do we necessarily think they would go this far, but from Microsoft's comments it seems plausible."

Of course, if Phil Spencer has his way, that won't be necessary at all. This year's Xbox showcase highlighted that Microsoft is on track to become a PC game publishing giant.