Sony Interactive Entertainment has completed its acquisition of the Bellevue, Washington-based Bungie game studio. In an effort to allay antitrust concerns, the developer of the “Destiny” game series will operate as an independent subsidiary of Sony, its mandate to “continue to independently publish and creatively develop our games,” Bungie CEO Pete Parsons wrote in a blog post. Both firms have offered assurances that future game development will not be limited to PlayStation exclusives. Sony valued the developer of “Destiny” and “Destiny 2” at approximately $3.7 billion in a Friday SEC filing. Continue reading Sony Completes Its $3.7B Purchase of Bungie Game Studio

Sony Interactive Entertainment is purchasing Bungie, creator of the “Halo” video game franchise and “Destiny 2.” The deal, valued at $3.6 billion, caps a robust month of game company acquisitions that saw Microsoft make a $68.7 billion bid on Activision Blizzard and Take-Two Interactive offer $12.7 billion for Zynga. The Bellevue, Washington-based Bungie will be operated as an independent that continues to make multi-platform games, SIE president Jim Ryan said in an announcement. “Destiny 2” was released for Xbox and PC as well as PlayStation platforms. Continue reading Sony Interactive to Acquire ‘Destiny 2’ Maker Bungie for $3.6B

Microsoft has made a nearly $70 billion offer to buy Activision Blizzard in a move that will bolster its Game Pass franchise, instantly expand its reach in mobile gaming, and create a content platform for the consumer virtual worlds that are expected to be big business in coming years. Statista estimates the global gaming market generated just over $178 billion in revenue in 2021, more than PwC projections for video streaming (almost $59 billion) and box office ($23 billion) combined. When the transaction closes, Microsoft says it will be the world’s third-largest gaming company by revenue, behind Tencent and Sony. Continue reading Microsoft Believes Activision Purchase Is ‘Key’ to Metaverse

New York-based Take-Two Interactive has agreed to buy social game developer Zynga in a deal valued at $12.7 billion in cash and stock. The move is seen as a bid by the company behind “Grand Theft Auto” and “NBA 2K” to boost its mobile portfolio with Zynga assets like “Words With Friends” and “FarmVille.” Take-Two described the acquisition as a “clear path to bring Take-Two’s console/PC games to mobile,” a category the company’s CEO Strauss Zelnick said on an investor call this week holds “tremendous untapped potential,” citing “Zynga’s leading development, publishing, and live operations teams.” Continue reading Take-Two to Purchase Mobile Gamer Zynga for $12.7 Billion

Electronic Arts plans to boost its mobile game business by purchasing game developer Glu Mobile in a deal valued at $2.4 billion, one of the highest prices ever paid for a video game studio. Glu Mobile’s creations include, among others, “Diner DASH,” “Disney Sorcerer’s Arena,” “WWE Universe,” “MLB Tap Sports Baseball 2020” and “Kim Kardashian: Hollywood.” According to Glu Mobile, the company’s games earned $1.32+ billion in bookings last year. EA is particularly interested in Glu Mobile’s experience in sports and casual games. Continue reading EA Acquires Game Developer Glu Mobile in $2.4 Billion Deal

Game publishers have discussed raising the cost of video games, set at $60 in the 1990s, for decades, and are finally moving ahead with a plan to raise the standard price to $70, despite the doubling of U.S. unemployment due to the COVID-19 pandemic. Take-Two Interactive Software was one of the first to offer a $70 game with “NBA 2K1.” Meanwhile, Microsoft promotes its Xbox Game Pass, a subscription service with 100+ titles for $10 per month. Sony plans to offer a subscription service with fewer titles. Continue reading Game Publishers Launch a Plan to Raise Game Prices to $70

Video game publishers Activision Blizzard, Electronic Arts and Take-Two Interactive Software are all on track to post strong earnings this week, the beneficiaries of increased game playing during the COVID-19 pandemic. According to analysts, these publicly traded game publishers have reaped rewards from players spending on virtual goods such as costumes for characters. FactSet predicts the companies will “more than double” their adjusted earnings from the same quarter from the previous year. The global games industry is valued at $149 billion. Continue reading Video Game Publishers Post Record Profits During Pandemic

After missing estimates for quarterly profit and full-year earnings predicted to be short of expectations, Nintendo shares fell as much as 4.7 percent, the biggest intraday drop since April 26. Nintendo reported disappointing operating income for the quarter ending in December: 168.7 billion yen ($1.5 billion) versus the 175.4 billion yen average projection. Wall Street has also projected slowed growth for major video game publishers that are holding back on new releases until new consoles have debuted. Continue reading Nintendo Shares Fall, Game Publishers Stall on New Titles

To draw attention to their new video game releases, major publishers such as Electronic Arts, Activision Blizzard, Ubisoft Entertainment and Take-Two Interactive are paying top-tier gamers to play their new releases live online. Talent and marketing agencies report that these companies can pay the most popular gamers as much as $50,000 per hour to do so. On September 13, Take-Two will pay gamers to live-stream its new release “Borderlands 3,” and again for its October 4 release of “Tom Clancy’s Ghost Recon Breakpoint.” Continue reading Publishers Hire Top Gamers to Live-Stream New Releases

According to Rockstar Games, its “Red Dead Redemption 2” earned more than $725 million in global retail sales in its first three days on the market, breaking several records. The company deemed it “the biggest opening weekend in the history of entertainment,” surpassing the $640 million raked in by “Avengers: Infinity War,” which earned more than $640 million in its opening weekend. But “Red Dead Redemption 2” doesn’t top Rockstar Games’ own “Grand Theft Auto V,” which pulled in more than $1 billion in its first three days. Continue reading Rockstar’s ‘Red Dead Redemption 2’ Breaks Sales Records

Nintendo just debuted Switch, a console/handheld hybrid that is the company’s next videogame platform. The system, which has been in development since March 2015 and will be available for sale March 2017, can be used for TV gaming or as a portable gaming system, depending on the configuration of its tablet-like device and dock. Minus the tablet, the system becomes portable, with mini joysticks that can be wireless or attached to the sides. Nintendo also says it will soon reveal titles, game demos, and prices. Continue reading Nintendo Rolls Out Switch, its New Hybrid Videogame System