The mass layoffs at Epic Games which saw 830 employees lose their jobs and another 250 pawned off to newly-spun out companies apparently included most of Mediatonic’s employees. The studio is best known as the developer of cutesy platformer battle royale Fall Guys and was acquired by Epic Games back in 2021. According to several Mediatonic developers, the studio was [...]
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Sony Interactive Entertainment’s Jim Ryan has announced that he’ll be stepping down from his role as CEO of Sony’s video game arm in March 2024. He has been with Sony for 28 years and served as the company’s President and CEO for the last five years. “I have announced my retirement after nearly 30 years at Sony Interactive Entertainment,” Ryan [...]
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Epic Games joins the growing list of companies that are now trying to cut back on their spending as the video game industry sees a post-pandemic decline. The company is now undergoing restructuring with multiple divisions being spun out as separate and completely independent companies. In line with the restructuring, the company also laid off 830 employees, with an additional [...]
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2023 hasn’t been good to Game Chest Group, the owner of Wurm Online developer Code Club, with the company seeing negative profits for Q2 2023. The company’s quarterly financial report shows a total revenue of 1.6 million SEK (roughly $175,000), a slight increase from the $1.5 million that it raked in over the same period last year but wasn’t quite [...]
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Sony’s systems, and PlayStation’s by extension, has allegedly been breached by a new hacker group. It’s unclear what information the hackers managed to steal but they’re threatening to sell the data on a ransomware website after Sony reportedly refused to give in to their demands. “We have successfully compromised all of Sony systems,” the hacker group claimed. “We won’t ransom [...]
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Roblox Corporation is the latest video game company to buckle under the financial problems sweeping across the industry. Despite continually rising revenues, the company’s profits continued to plummet to the point that they were spending more than they were earning. In an effort to reduce its losses, the Roblox developer has made the unfortunate decision to lay off around 30 [...]
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Earlier this week, Unity Technologies finally responded to the intense backlash that it received over its new Unity runtime fees. The company offered a general apology and promised that they’ll be making changes to the policy in an effort to appease the video game development community. The company has now outlined proposed changes to the controversial fees and apologized once [...]
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The UK Competition and Markets Authority’s long-running investigation into the Microsoft-ABK merger looks like it will soon be coming to an end in favor of Microsoft. After much ado, the regulatory agency has given its preliminary approval for the $69 billion deal after Microsoft agreed to restructure the deal to give Ubisoft perpetual cloud streaming rights to all existing Activision [...]
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Fortnite studio Epic Games recently settled a Children’s Online Privacy Protection lawsuit filed by the U.S. Federal Trade Commission to the tune of $245 million. The FTC has now set up a page for those who want to request refunds for premium item purchases made between January 2017 and September 2022, credit card charges unknowingly made by a child below [...]
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It’s been a rough week for Square Enix financially as the Final Fantasy studio saw its stock value drop a whopping $2 billion and its stock prices plummet by 28%, its lowest point this year. As a result, several analysts have reduced their price target for the company, which in turn has caused investors to rethink their investments, one of [...]
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