![]() ![]() That undercuts their cloud argument and strengthens the argument that they did not adequately consider Relevant Consumer Benefits of the deal. District Court have now said, essentially, that the deal appears to be a positive for cloud competition and/or cloud consumers. That makes the arguments that they failed to adequately consider comity much stronger. Why I think the CMA and MSFT will reach an agreement: I tend to think the CMA and MSFT will reach an agreement now, but I'm not sure, as follows: I understand this is a board that likes to default to "business = bad", but things aren't that simple But acquisitions need to be there as an "endgoal" for companues or you will see investment in games dry up REAL QUICK. Jim Ryan himself has said this.Īlso, Jeff Grubb mentioned this point the other night and I feel like we never talk about. Some will fail and fade away, some will succeed spectacularly and be the next Blizzard or Bungie. As we have already seen with Jeff Strain, many people at the acquired studios wait it out until their shares vest, they leave, and they start their own studio. But the industry is NOT in a state to be concerned about overall consolidation. Yes that change be scary, especially because it's tough to be "fans" of any of these studios now, since they're mostly prerelease. But new ones will rise to take their place. We are in a great reset period where yes, many of your favorite studios and publishers will get gobbled up. Any one of these could be a major in the next few years (some like Nexon and Epic already are): Yellow Brick Games (Mike Laidlaw, ex-Bioware)Īnd as far as publishers go, here's a bunch that are either brand new or have risen in prominence in the last few years.Wildlight Entertainment (Ex-Respawn, Infinity Ward, Naughty Dog).Wildflower Interactive (Bruce Straley ).Something Wicked Games (Ex-Bethesda & Obsidian, game announced as "Wyrdsong").Second Dinner (Ben Brode released Marvel SNAP).ProbablyMonsters (Banner that includes several studios under it).Mountaintop Studios (Ex-Respawn, Bungie, Blizzard, Naughty Dog).Magic Soup Games (Ex-heads of Blizzard).Jumpship (Playdead co-founder, first game was Somerville).Ivy Road (Creator of Gone Home, creator of The Stanley Parable, composer of Minecraft).Inflexion Games (Ex-Bioware, game announced as "Nightingale").Gardens (Journey, Skyrim, and Spider-Man devs).Frost Giant (Ex-Blizzard, game announced as "Stormgate").Eyes Out (Cory Davis and Robin Finck ).Next game announced as "Penny's Big Breakaway") Evening Star Studios (Makers of "Sonic Mania".Deviation Games (Ex-Call of Duty & DICE).Denkiworks (Former The Tomorrow Children & Cursed to Golf).Dark Passenger (Ex-CD Projekt Red, making feudal Japan online game).Build a Rocket Boy (Lezlie Benzies Game announced as "Everywhere").Blank (Ex-CDPR, director of Cyberpunk 2077 and co-director of The Witcher 3).Ascendant Studios (Bret Robbins Game announced as "Immortals of Aveum").This is an incomplete list of brand new, independent, notable (and mostly AAA) studios we have seen formed over the last few years: I doubt they are going to go against an active CMA Order, but if they were and wanted to move fast, something like Thursday/Friday would be about as fast as I think they could do it.Ĭlick to shrink.It's just facts. I don't think any seasoned merger arbitrage traders expect this to be done by Tuesday. Typically some employee at some level is telling the press when they lose the ability to make retirement plan transactions, and the Nasdaq will definitely notify if it recieves voluntary delistment papers. Personally, I think we're going past the 18th at this point, just because of the logistics, unless a heck of alot has been done with a remarkable absence of leaks. There is a well trodden path to large corporate deals closing, with steps we just haven't seen starting. Then money gets turned over to a financial company that manages payouts for shares, as they are soon going to be converted to cash. Around the same time they send a notice to the Nasdaq to delist the stock on a specific day. This is because they need to do internal accounting for precisely how many shares there are. First, you see a lock on options exercises 401k plan transactions, etc., for insiders. Click to shrink.I'm going to say around 4%.
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