Mergers and Acquisitions
Ongoing coverage on Mergers and Acquisitions.
Latest coverage
Still struggling with its League of Legends MMO, Riot Games was reportedly willing to spend $250 million on acquiring…
Riot Games reportedly offered between $250 million and $500 million to acquire Intrepid Studios and its MMORPG, Ashes of Creation. The offer was revealed in court documents related to litigation involving Intrepid Studios CEO Steven Sharif. Ultimately, the acquisition did not go through, despite Riot's long-term plans for the game.
Evening Legal Briefs
Senator Cory Booker is set to hold a hearing concerning the potential merger between Paramount Global and Warner Bros. Discovery. The hearing will likely address regulatory and industry implications of such a significant consolidation.
OpenAI buys its second startup in a month
OpenAI has acquired Hiro Finance, a startup specializing in AI-powered financial planning tools. This marks OpenAI's second startup acquisition in two weeks, following the purchase of Technology Business Programming Network. While financial terms were not disclosed, the move suggests OpenAI is integrating AI expertise into its services, potentially enhancing its chatbot capabilities.
Nvidia denies report that it is in talks to acquire a major PC company but Dell, HP, Lenovo and Asus share prices jumped…
Nvidia has denied reports that it is in talks to acquire a major PC company, refuting claims made by SemiAccurate. Despite the denial, share prices for HP, Dell, Asus, and Lenovo saw a notable increase following the initial report. Nvidia has recently focused on its datacenter and client computing divisions, developing new chips and collaborating with Intel.
Ex-Bethesda Exec Pete Hines Explains Why He Left, And He Didn't Mince Words
Former Bethesda executive Pete Hines explained his decision to retire after over 24 years, citing a realization that he could no longer effectively lead the studio or protect its culture. He expressed disappointment in how Bethesda was "damaged and broken apart" and "mistreated," particularly after Microsoft's acquisition of ZeniMax Media. Hines also mentioned that delays to Starfield, which he wanted to see released before departing, extended his tenure.
Gaming Community Divided Over Xbox and Activision Job Cuts
The gaming community is divided over recent layoffs at Xbox and Activision, sparking debates about industry awareness versus personal engagement with games. This discourse highlights a growing tension between viewing games as corporate products and appreciating the human effort behind them, especially in the context of industry consolidation.
Report: Epic are making a Disney extraction shooter
Epic Games is reportedly developing an extraction shooter featuring Disney characters, potentially set within the Fortnite universe. This project is one of three games stemming from Disney's $1.5 billion investment in Epic. The report also touches on recent layoffs at Epic Games due to declining Fortnite engagement and increased operational costs.
'I Saw How It Was Getting Damaged': Ex-Bethesda Exec Goes to Town on Xbox's Mistreatment
Former Bethesda executive Pete Hines has criticized Microsoft's management of the studio following its acquisition, stating that he witnessed the company being "damaged and broken apart and frankly mistreated." Hines, who left Bethesda in 2023 after a 24-year tenure, expressed disappointment that he was unable to protect the studio's efficient operations and authentic culture under Microsoft's ownership.
Fortnite Adding An Arc Raiders-Style Game With Disney Characters - Report
A report indicates that Epic Games and Disney are developing an extraction shooter for Fortnite, inspired by Arc Raiders, featuring Disney characters. The game is reportedly set to launch in November, though internal reviews have noted a lack of originality. This is part of a larger collaboration involving at least two more games, despite budget shifts and timeline concerns.
Xbox exec who brought Bungie into Microsoft says it's "weird" to see Sony own the creators of Halo: "It was so weird to launch Marathon and see a PlayStation logo"
Former Xbox executive Ed Fries expressed his surprise at seeing Bungie, the creators of Halo, now owned by Sony and developing the game Marathon for PlayStation. Fries, who was instrumental in Microsoft's original acquisition of Bungie 26 years ago, found it surreal to play Marathon on his Xbox and see a PlayStation logo. He admitted he would not have believed this trajectory for Bungie if told 25 years prior.
Pine Studio Acquires Inked Developer Somnium Games; Expands Team to Drive Escape Simulator Multi-Platform Growth
Pine Studio has acquired fellow Croatian developer Somnium Games, expanding its team to 28 members. This acquisition aims to drive the multi-platform growth of Escape Simulator, with console and mobile versions in development. To celebrate, a free update for Escape Simulator featuring the art style of Somnium's Inked is now available on Steam.
MMO Week in Review: Queen Devona
This week's MMO news roundup covers updates for Guild Wars Reforged, layoffs at MechWarrior studio Piranha Games, and a potential acquisition of Epic Games by Disney. The article also touches on political discussions surrounding game shutdowns in Europe and new early access dates for Heroes of Might and Magic Olden Era.
Saudi Arabia’s EGDC Raises Ownership Stake in Capcom, Now Owns 6.04 Percent
Saudi Arabia's Electronic Gaming Development Company (EGDC) has increased its ownership stake in Capcom to 6.04 percent, acquiring an additional 1.01 percent. The EGDC, owned by Crown Prince Mohammed bin Salman, also holds a majority stake in SNK and is involved in the proposed acquisition of Electronic Arts by the Public Investment Fund, Silver Lake, and Affinity Partners.
Embracer layoffs, Nintendo's patent problem, and is Baby Steps an Uncharted sequel? - Patch Notes #46
Several game development studios have announced layoffs and closures, including Embracer Group's Eidos Montreal and Ivy Road. Shinji Mikami has founded a new studio, Unbound Inc., with Shift Up. The Super Mario Galaxy Movie is performing well at the box office, while Nintendo's patent for a sub-character combat mechanic has been rejected. Rec Room is shutting down due to profitability issues, and VR developer Polyarc has also made layoffs.
Business and Finance
Raven Software co-founder Brian Raffel has retired after 36 years, having worked on titles like Call of Duty, Star Wars, Star Trek, and Marvel. In separate news, Sony Interactive Entertainment has acquired Cinemersive Labs.
SEGA Believes Not Catering to ‘Western Tastes’ Helped Sonic Music Go Global
Former Disney executive Kevin Mayer believes The Walt Disney Company's CEO Josh D'Amaro should consider bold steps in the video game industry, potentially including acquiring a company like Epic Games. Mayer suggests this could help Disney increase revenue and stock price, while SEGA notes that its Sonic music has achieved global success by not solely catering to 'Western tastes'.
Business and Finance
Shift Up, the developer behind Stellar Blade, has acquired Shinji Mikami's studio, formerly known as Tango Gameworks. This move signals a significant shift in the industry landscape as established studios merge.
SHIFT UP Acquires Shinji Mikami Studio UNBOUND
Stellar Blade developer SHIFT UP has acquired Shinji Mikami's studio UNBOUND, which is developing new PC and console titles. This acquisition aims to expand SHIFT UP's console and PC development pipeline and global publishing capabilities. Both company leaders expressed excitement about the synergy and creative potential of the partnership.
Phasmophobia Haunts Gamers While Mario Gets a Major Upd... | TAG
Recent gaming news includes Mario Kart World receiving a patch that nerfs the Lightning Bolt item, a rumored Final Fantasy 9 remake being put on hold, and Amazon offering deals before its Big Spring Sale ends. Additionally, ASUS released the ROG Crosshair X870E Glacial motherboard, Disney is reportedly considering acquiring Epic Games, and a KPop Demon Hunters x McDonald's collaboration is being highlighted. Guides are also available for Crimson Desert's Secret Garden Abyss puzzle and Arc Raiders' Outstanding Balance quest.
PlayStation’s Studio Business Group hit by layoffs
The Walt Disney Company's CEO, Josh D'Amaro, is reportedly a fan of gaming, leading to speculation that Disney could increase its involvement in the industry, potentially through acquiring a company like Epic Games. This comes as Sony's PlayStation Studio Business Group has been affected by layoffs, though the article focuses more on Disney's potential gaming ventures.
