Embracer Group to close studios and cancel games as part of restructuring
Embracer Group, the corp who've spent several years buying up dozens of video game studios, today announced a financial restructuring that will involve closing studios, cancelling games, and laying off employees. They say this will leave them a "stronger, more efficient company". Their purchases include Gearbox, Crystal Dynamics, Volition, the rights to The Lord Of The Rings, and so many more. Embracer own 138 studios and have over 16,500 people working for them, and it's not clear how many will remain afterwards.
The many, many things Embracer currently own include Gearbox (Borderlands), Crystal Dynamics (Tomb Raider), Eidos Montreal (modern Deus Ex), Volition (Saints Row), Dambuster Studios (Dead Island 2), 3D Realms (Bombshell), Ghost Ship Games (Deep Rock Galactic), Coffee Stain (Goat Simulator and Satisfactory), Piranha Bytes (Gothic, Risen, Elex), Tripwire Interactive (Killing Floor), Warhorse Studios (Kingdom Come: Deliverance), 4A Games (Metro), Snapshot Games (Phoenix Point), Zen Studios (Zen Pinball), Bugbear Entertainment (Wreckfest), New World Interactive (Insurgency), Flying Wild Hog (Shadow Warrior reboot), Beamdog (remasters of Planescape and Baldur's Gate), Perfect World, Saber Interactive, Tuxedo Labs (Teardown), and Middle-earth Enterprises (like, actual Middle-earth). They've also bought individually bought rights to series including Alone In The Dark, Carmageddon, and TimeSplitters. And they have moved beyond games with comic book publisher Dark Horse, board game publisher Asmodee, and various companies for anime, CGI, and more.
No word yet on who and what exactly might be affected, but Embracer laid out their restructuring plan in a press release. Actions include closing some studios, cancelling some
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