Archives February 2024

Bloomberg reports this sale is another effort of Embracer to cut costs alongside studio closures and layoffs after a planned $2 billion deal with Saudi Arabia-backed Savvy Games Group fell through in 2023. The publication writes one of its sources says the $500 million deal comes with the option for Saber Interactive to bring with it multiple Embracer subsidiaries as well. 

[Source: Bloomberg]

Toys for Bob announced this in a statement released today, which explains why now is “the time to take the studio and our future games to the next level.” 

Here’s Toys for Bob’s statement, in full: 

Toys for Bob joins another studio leaving the hands of its owner: With a $500 million deal, Embracer Group has sold Saber Interactive to a group of private investors, as reported by Bloomberg. Kotaku is also reporting today that Gearbox, the makers of the Borderlands series, is looking to break away from Embracer Group as well. 

What kind of game do you hope Toys for Bob makes first? Let us know in the comments below!

Electronic Arts is laying off 5 percent of its workforce, which accounts for roughly 670 employees. CEO Andrew Wilson issued a company-wide letter informing staff of the publisher’s restructuring, which will mean sunsetting some live service titles and ceasing the development of certain projects.

In his letter, Wilson states that EA is restructuring to become more streamlined in order to deliver “deeper, more connected experiences for fans everywhere that build community, shape culture, and grow fandom.” To that end, the company will be moving away from licensed IPs and shutting down certain titles to shift its development resources. 

“We are also sunsetting games and moving away from the development of future licensed IP that we do not believe will be successful in our changing industry,” says Wilson in the letter. “This greater focus allows us to drive creativity, accelerate innovation, and double down on our biggest opportunities — including our owned IP, sports, and massive online communities — to deliver the entertainment players want today and tomorrow.” 

Wilson then speaks to the extent of the layoffs and how it will work with affected employees: 

“While not every team will be impacted, this is the hardest part of these changes, and we have deeply considered every option to try and limit impacts to our teams. Our primary goal is to provide team members with opportunities to find new roles and paths to transition onto other projects. Where that’s not possible, we will support and work with each colleague with the utmost attention, care, and respect.”

In a statement to VGC, EA Entertainment president Laura Miele said in part, “It’s always hard to walk away from a project, and this decision is not a reflection of the team’s talent, tenacity, or passion they have for the game. Giving fans the next installments of the iconic franchises they want is the definition of blockbuster storytelling and the right place to focus.”

Last year, more than 10,000 people in the games industry or game-adjacent industries were laid off. 

“The Control franchise is in the core of Remedy,” the studio writes in a statement released today. “Having acquired the full rights to Control, Condor, and Control 2, Remedy is now in a position to make the right product and business decisions focusing on long-term franchise growth.” 

With this deal, all publishing agreements between 505 Games and Remedy in regards to the Control franchise are terminated immediately by mutual agreement. All publishing, distribution, marketing, and other rights licensed to 505 Games are reverted to Remedy with immediate effect, as well. However, the two companies have agreed that 505 Games will continue as the publisher of Control through a transition period ending December 31, 2024. 

After this transition period, “505 Games will have no future royalty or other rights to Control.” 

As for the $18.4 million price, Remedy says it’s equal to “the amount that 505 Games has paid for the development of codename Condor and Control 2 to date including a minor premium.” 

“Remedy is entitled to set off certain receivables from the purchase price, and therefore, the cash flow effect from the transaction will be clearly less than the purchase price,” the statement reads. “Remedy will pay the net purchase price in three cash installments during the next twelve months.” 

Are you more excited for Control 2 or Project Condor? Let us know in the comments below!

CM Punk headlines this DLC roster, marking his first appearance in a WWE game since WWE 2K15 in 2014 (the year he walked out of the company). It would appear the Voice of the Voiceless’ recent social media campaign to be included in the 2K24’s DLC plans paid off faster than expected, and he’s part of the first pack, no less. I smell a work, but it’s good to have him back in an official in-game capacity, regardless.

Other big highlights include Jade Cargill, Pat McAfee, and 2K24 soundtrack curator and award-winning music artist Post Malone. Check out the full list of superstars in each pack below. 

ECW Punk Pack – May 2024

Post Malone & Friends Pack – June 2024

Pat McAfee Show Pack – July 2024

Global Superstars Pack – August 2024

WCW Pack – November 2024