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business

4 stories tagged business

EA's $55 Billion Sale to a Saudi PIF-Led Group Clears Its Final Hurdle - Deal Closes August 4

Electronic Arts says every regulatory approval needed for its $55 billion buyout by a consortium led by Saudi Arabia's Public Investment Fund has now been obtained, with the deal expected to close on August 4 - making it the largest leveraged buyout in history and taking EA private for the first time since 1990.

news4 months ago

Sony Just Took a $765 Million Impairment Loss on Bungie — Marathon Failed to Land, Destiny 2 Kept Sinking, and the 2022 Acquisition Has Now Burned Through More Than 20% of Its $3.6 Billion Price Tag

Sony's FY2025 results add another $565 million Bungie writedown on top of October's $200 million one, totaling $765 million in impairments — more than 20% of the original $3.6B acquisition price. Sony cited Marathon's failed March launch (currently 6,000-15,000 concurrent on Steam) and Destiny 2's continued engagement decline.

gaming4 months ago

Koei Tecmo Raises Profit Forecast by 53 Percent as Nioh 3 and Pokemon Pokopia Deliver a Record-Breaking Fiscal Year

Koei Tecmo raises its fiscal year profit forecast by 53 percent to 41.5 billion yen after Pokemon Pokopia sells 2.2 million in four days and Nioh 3 crosses one million in two weeks. Full results due April 27.

industry5 months ago

Epic Games Lays Off Over 1,000 Staff as Fortnite Engagement Slips

Epic Games has confirmed layoffs affecting over 1,000 staff, citing a prolonged decline in Fortnite engagement that has strained the company's finances.