Microsoft to Close Four Game Studios Gained From $7.5B Deal in 2020 -- Market Talk

Dow Jones05-07

1045 ET - Microsoft says it is shuttering four videogame studios it gained from its $7.5 billion acquisition announced in 2020 of ZeniMax Media. The studios were part of ZeniMax's Bethesda Softworks unit, known for making hit franchises such as Fallout and Doom. A spokeswoman says some impacted employees will be transferred to another Microsoft-owned studio. She declined to say how many others will let go. Matt Booty, who oversees all of Microsoft's game studios, told staff in an email shared with the WSJ that the closures reflect plans to prioritize high-impact properties. "We are making these tough decisions to create capacity to increase investment in other parts of our portfolio and focus on our priority games," Booty wrote. (sarah.needleman@wsj.com)

(END) Dow Jones Newswires

May 07, 2024 10:45 ET (14:45 GMT)

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The studios were part of ZeniMax's Bethesda Softworks ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GB00B4LPDJ14.GBP","symbol_name":"FUNDSMITH EQUITY \"R\" (GBP) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2433178937","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2433178937","pubTimestamp":1715093100,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1045 ET - Microsoft says it is shuttering four videogame studios it gained from its $7.5 billion acquisition announced in 2020 of ZeniMax Media. 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The studios were part of ZeniMax's Bethesda Softworks unit, known for making hit franchises such as Fallout and Doom. A spokeswoman says some impacted employees will be transferred to another Microsoft-owned studio. She declined to say how many others will let go. Matt Booty, who oversees all of Microsoft's game studios, told staff in an email shared with the WSJ that the closures reflect plans to prioritize high-impact properties. \"We are making these tough decisions to create capacity to increase investment in other parts of our portfolio and focus on our priority games,\" Booty wrote. 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