• Hey everyone, staff have documented a list of banned content and subject matter that we feel are not consistent with site values, and don't make sense to host discussion of on Famiboards. This list (and the relevant reasoning per item) is viewable here.
  • Do you have audio editing experience and want to help out with the Famiboards Discussion Club Podcast? If so, we're looking for help and would love to have you on the team! Just let us know in the Podcast Thread if you are interested!

News Embracer will cancel games and close more studios to save costs

sagadego20

sagadego20

Paratroopa
Pronouns
He/Him
Ever since its massive $2 billion business deal fell through, Embracer Group has been laying out plans to rein its massive team of studios in and reduce spending. Embracer was really counting on that $2 billion influx of cash to help fund new projects. Now the company will pare back its focus, cancelling projects and closing studios along the way.

Read more: https://www.tweaktown.com/news/9289...d-close-more-studios-to-save-costs/index.html
 
0
Man it's gonna be bad for all the studios they recently embraced. Going to be also interesting if the projects includes LRG and how it's going to be affected
 
They own Dark Horse Media too right? And Middle Earth rights? Absolutely insane.

Timesplitters, Deus Ex and Legacy of Kain revivals all possibly dead now, fuck.
 
Oof this sucks, big IP’s like Tomb Raider and LOTR will be fine but yeah, the likes of Deus Ex, Darksiders etc… are screwed. Guess we have zero hope of a Timesplitters revival as well now.

Shit sucks for those studios they bought, hope everyone laid off finds work as quick as possible.
 
Cucufate said:
For those curious, the investor in the failed $2 billion deal was, apparently, Saudi Arabia's Public Investment Fund via Savvy Games.

Click to expand...
In the May note, Embracer said that the parties had reached a verbal commitment in October 2022 that would have resulted in more than $2 billion "in contracted development revenue over a period of six years."

Well, there's your problem. You just said "hey, can you do me a solid" instead getting that agreement in writing. Congratulations, you failed to do a proper capitalism, so now you've capitalism'd all over yourself.
 
This was bound to happen sooner or later, but this is much sooner than I would’ve thought. Tying a bunch of entities to one big flagship puts them all on one trajectory. Things going bad up top means it’s bad for everyone.

Same thing’ll happen with Microsoft at some point within the next decade, I bet.
 
Last edited:
As of June 2023, Embracer Group has 131 internal game development studios and is engaging more than 15,000 employees and contracted employees in more than 40 countries.
Click to expand...

Hard to believe that the company who bought over 100 studios would end up in a situation like this.
 
Oor... the management that fucked things up in the first place could take a paycut 👀

I know, unrealistic.
 
What a wasteful industry this is at times. Best of luck to those affected.
 
0
Suits gambling with other people's livelihood's and losing. Hope those affected land on their feet.
 
0
You must log in or register to reply here.


Back
Top Bottom