Well, folks, it’s happened. In a twist that no one saw coming (or did we?), Microsoft has finally admitted what we’ve all suspected for years – they’re losing the console wars to Nintendo and Sony.

This startling confession came amidst their ongoing legal tussle with the Federal Trade Commission (FTC) over their audacious $69 billion bid to acquire Activision Blizzard.

In a court document submitted on June 22nd, Microsoft essentially said, “we give up” in their…