13 movies to know me:
Fear and Loathing in Las Vegas
American Gangster
Belly
Fritz the Cat
Eternal Sunshine of the Spotless Mind
Malcolm X
Requiem for a Dream
The Education of Sonny Carson
The Dark Knight
Clockers
In the Mood for Love
Casino
New Jack City
13 movies to know me:
Silver Linings Playbook
Django Unchained
The Truman Show
Casino Royale
The Shining
Malcolm X
Se7en
Whiplash
Her
Forrest Gump
Dead Poets Society
White Chicks
The Incredibles
BREAKING: EA has officially become a private company for $55 billion.
It now belongs to Saudi Arabia Public Investment Fund (PIF), Silver Lake Partners and Affinity Partners, a private equity firm owned by President Donald Trump’s son-in-law Jared Kushner.
"EA's franchises are some of the most beloved in entertainment, combining exceptional creative talent with a relentless focus on players." said Egon Durban, CEO and Managing Partner of Silver Lake.
"As long-term investors in technology, we admire how EA's innovation fuels imagination and human connection. We're proud to join with PIF and Affinity Partners to invest heavily in EA’s growth, including what AI can do to enhance game development and player experience, and excited to partner with Andrew and the EA team as they raise the bar for fans everywhere.”
EA CEO Andrew Wilson said in a message to staff:
"This moment recognizes the extraordinary people whose creativity, ambition and passion have made EA one of the world's leading interactive entertainment companies. We're entering this next chapter from a position of strength with partners who share our vision and ambition. Together, we'll invest boldly, accelerate innovation, and build the next generation of games and experiences for the hundreds of millions of players and fans who inspire us every day."
EA has publicly stated that the company will "maintain creative control" and continue its "track record of creative freedom and player-first values” under its new owners.
"The Consortium believes in our vision, our leadership and the strength of our teams. They are investing in EA because they believe we are uniquely positioned to lead the future of entertainment."
It's the second-biggest acquisition in gaming history, followed by Microsoft's $68.7 billion deal for Activision Blizzard.
The BAD NEWS?
The deal includes $20 billion of debt financing, making it the largest leveraged buyout ever — which could mean big changes at EA to justify the deal.
According to Gamespot, EA may look to "cut excess spending and rationalize the company’s workforce" to help bring in more money to address the debt.
A report from Financial Times said EA might look to "further bolster AI tools and technologies to help cut development costs and drive profitability". To be sure, EA had said it was already doing this, as are other companies who are embracing AI in an attempt to reduce costs.
Mat Piscatella of Circana told GI Biz no one can say for sure what happens next for EA, but history may not be on EA's side.
"Leveraged buyouts have a certain history that generally hasn’t been great for the acquired companies."
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