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- Hacker News
- Ah private equity, the king midas of shit.by thefz
- This is being bought by Affinity Partners, the same Kushner led group that’s trying to buy out FIFA?
Is the Trump family just going to own all of our entertainment and military companies?
by lovich - Does this mean we'll finally get a new Sim City?by LarsDu88
- Wow, so EA’s yearly loan interest alone will be more than their yearly profits.
If they aren't completely toast, they'll be a shell of what they are today, which is already a shell of what they once were.
by nrightnour - Because the Saudis leveraged this buyout via a massive loan from JP Morgan, EA's debt is now 10 times higher than it was when it was a publicly traded company: $2.2b to $22b.
Turns out the notion that they wouldn’t need humans to make games and they would use AI for most things was a pipe dream and firing staff to be profitable with the huge loan didn't work.
Now they are fucked.
Every company that spends money to buy up companies died and goes defunct because they keep failing to realize that they have to keep spending loads of money to make money and it doesn’t just roll in after acquiring IPs. Not even mobile slop or live service can save them anymore.
by krige - What a waste of Saudi money.by rockskon
- End of an era. Who do we vote as the worst company ever now?by tomkarho