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Sony buys Bungie for $3.6 billion

2022-01-31 16:02 by
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Sony is buying Bungie, the developer of Destiny and the original creator of Halo, for $3.6 billion. Bungie is positioning the acquisition as the start of a new era for the company - one focused on global multi-media entertainment, not just games. Bungie will retain creative control over its franchises and continue to develop for multiple platforms, not just PlayStation, according to a blog post by CEO Pete Parsons.

"Bungie has created and continues to evolve some of the world's most beloved video game franchises and, by aligning its values with people's desire to share gameplay experiences, they bring together millions of people around the world," Kenichiro Yoshida, chairman, president, and CEO of Sony Group Corporation said.

This is Sony's sixth acquisition since 2021, though most of its studio acquisitions have been studios with long histories with PlayStation, like BluePoint and Housemarque, or support teams and specialized studios like Nixxes and Valkyrie Entertainment.

The deal follows news on January 18th that Microsoft is buying Activision Blizzard for $69 billion, and it's the latest sign that the video game industry has entered the consolidation stage. Massive companies including Microsoft, Sony and Tencent are in the process of sweeping up as many studios as they can in a battle for exclusive experiences. As console makers, Sony and Microsoft hold particular power in these negotiations, with built-in audiences of millions on the PlayStation and Xbox platforms.

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