Electronic Arts reiterated this morning that its $2 billion buyout offer for Take-Two is not based on the company's short term valuation, and neither is it affected by the performance of a certain single franchise (guess which?).
Yesterday Take-Two's stock nudged up over $26 per share, a higher value than EA's $25.74 per-share bid. But EA's Mariam Sughayer, senior manager of Corporate Communications, says the company's looking further down the line - despite predicting that GTA IV is the likely contender for game of the year.
While many gaming layoffs are cruel, Tango Gameworks being culled after Hi-Fi Rush doesn't even make sense.
Good read. I think the point is important. Cuz the message it sends is, make a bad game? Well shut you down. Make a good game? We still might shut you down. How the fuck are you supposed to feel any sense of job security under those conditions. The level of core incompetence at play in the upper levels of this industry is staggering. This is common sense shit. You can’t chase trends on a 2 year cycle when games take fucking 6-8 years to make. Just let artists fucking art for gods sake. They don’t understand the basic principle that they’re all haggling for the same slice of fucking pie and the market will not bear it. Find a different fucking pie.
"The sudden closure of several video-game studios at Microsoft Corp.’s Xbox division was the result of a widespread cost-cutting initiative that still isn’t finished.
This week, Xbox began offering voluntary severance agreements to producers, quality assurance testers and other staff at ZeniMax, which it purchased in 2020 for $7.5 billion, according to people familiar with the company’s plans. Others across the Xbox organization have been told that more cuts are on the way.
Speaking about the closures more broadly, Booty said that the company’s studios had been spread too thin — like “peanut butter on bread” — and that leaders across the division had felt understaffed. They decided to close these studios to free up resources elsewhere, he said.
Game Pass has not seen the massive growth that Xbox boss Phil Spencer may have been hoping for."
"Speaking about the closures more broadly, Booty said that the company’s studios had been spread too thin — like “peanut butter on bread” — and that leaders across the division had felt understaffed. They decided to close these studios to free up resources elsewhere, he said"
So what you're saying is...you bought all these studios and you guys can't run them.
Jesus.
Reports are suggesting that Game Pass will be getting a price hike soon and that Call of Duty may not be added to the day one offering. I honestly have a hard time believing this but it does beg the question why exactly did GP fail? I think the answer is that it just didn't get the growth that it anticipated. Jim was right but I wish he wasn't because at the end of the day, its gamers, devs and other front-line workers who have to absorb the blow for Spencer and team's miscalculations.
For all the armchair executives who were calling for Sony to release its big-budget AAA games on PS+, the same exact thing would have happened at PlayStation. Game Pass has killed Xbox. Congrats.
"While the 20 year anniversary edition of Nordic Game, NG24 Spring's homepage on 21-24 May in Malmö, Sweden, is getting closer, the organizers announced that more than 150 speakers are now lined up for the show." - Nordic Game.
please don't let yourself get bought out take two, i dont want EA to get a hold of grant theft auto. They will ruined, i hate how EA is trying to buy out there competition. Everybody can help prevent this from happening buy buying grant theft auto.
I agree, I bought mine for sure, you think this latest media scare of GTAIV freezes will have an effect on sales??? Mine works just fine by the way.
I don't like EA buying up any company as it has ruined many franchises dear to me (C&C among others). However, the way ttwo is going it might end up in bankrupcy which means GTA franchise might be sold to highest bidder. That could mean a worse company could take over....
EA might not be stupid enough to muck with such a successful franchise as GTA.
All EA does is rape companies for what their worth and leave the shell behind. why is it that EA can't just take "NO" for an answer. This should be taken to the supreme court as a class action lawsuit, similar to the one brought upon MS back in the days of windows 95.
Because not only are they trying to get a hold of the GTA franchise but sport titles the T2 has in its portfolio, there for eliminating competition in that market. This is a grasp at trying to have a sports monopoly and should be stopped as an unfair business practice.
THey are already so freaking big, why do they need take two... I just hope they don't settle.... of course it is a business.. money is all that matters, not the games... to a degree of course.