More EA layoffs expected as Saudi Arabia buyout is completed
Electronic Arts has completed its $55 billion acquisition by an investor consortium, including Saudi Arabia's Public Investment Fund, making it a private company. The deal, financed partly by a $20 billion loan, raises concerns about potential mass layoffs and increased microtransactions to offset the debt. The PIF now holds a majority stake, leading to discussions about potential censorship of inclusive titles like The Sims due to Saudi Arabia's human rights record.
- Entities
- Topic: Monetization
- Company: Electronic Arts
- Person: Joshua Kushner
- Company: Saudi Arabia
- Game: EA Sports FC 24
- Company: Affinity Partners
- Person: Mohammed bin Salman
- Game: The Sims
- Game: It Takes Two
- Topic: Layoffs
- Company: Silver Lake
- Topic: Video Game Industry
- Topic: Mergers and Acquisitions
- Game: Unravel
- Person: Jason Schreier
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