Hopefully it’s a leveraged buyout and this is the death of EA.
Edit: Haha I clicked the link and it really is an LBO.
It is a leveraged buyout.
Yup I added an edit. LBOs should be illegal man. Just search how many companies have been bought like this and then driven out of business.
@dependencyinjection Let's hope their IPs are bought by companies that actually know what to do with them.
And the worst get worst-er
101 how to make your company’s bad public image even worse.
Oh, cool, another buyout where the buyer doesn't have to actually pay for it, they just take out a loan and magically make the company pay for it.
This shit needs to be made illegal. All it does is kill off businesses. Sears and JoAnn Fabrics both died to this trash.
Toys R Us too 🤬
It’s the workers who pay the price for the greed of the CEOs, shareholders, and the new owners.
Basically Tesla, oof
For a preview of what happens, look at the embracer buyouts. This is essentially a funeral
Yup. Or Toys R Us, or Debenhams (UK), or any other number of LBOs which led to the death of the company.
Just when you think EA can't get any shittier, they find another way to lower the bar.
Going private could have been a net positive. But, not from venture capitalists, and certainly not from the Saudis.
Also, taking on this much debt as part of the buyout is just asking to be gutted and carved out, complete with record-breaking layoffs.
Toys R Us anyone?
EA 0.00052 seconds after hearing Nintendo is the worst game company…
Sail the high seas.
EA has basically been dead to me for a very long time, even though I know a couple of people who work there.
While the whole Saudi Arabia / Private Equity angle is terrible, part of me thinks/hopes/wishes that this is part of their whole sports-washing angle - and there is a slim but non-0 chance that there will be an improvement in the quality of their studio output over the next few years.
I’ll continue to avoid buying their games, but it would be nice to see those that still do not getting nickel-and-dimed as hard as they currently are.
Who knows, there is also the potential that this buyout backfires and Saudi’s human rights abuses become even more public knowledge as a result?
When times are as bad as they currently are, we have to hope.
Saudi owning FIFA is hilarious seeing most of its profit comes from gambling. Muslims my ass 😂 Not that they ever practiced what they preached anyway—Islam or not, religion has always been nothing but a tool of oppression to rulers.
Y'all shouldn't be buying EA games anyway.
At this point, I see pirating The Sims as a moral imperative. There’s no reason the full game should be ~$1500.
I downloaded every EA game ever made and I don't even want to play any of them. I have the files imprisoned on my computer, forever. Bwahahaha!
EA has not been able to send the Auth Codes 2-factor to my e-mail with my own domain for ages.
The support (probably AI) sends me a link to a support article about 2-factor authorisation every time. EXACTLY THE ARTICLE WHERE YOU HAVE TO SCROLL ALL THE WAY DOWN TO CONTACT SUPPORT.
I couldn't be more excited about what's ahead,” said Jared Kushner, Chief Executive Officer of Affinity Partners.
Because it just wouldn't be a story without a Trump family angle.
E A Sports. It’s in the shame!
Surely gamers will find it within themselves once in their lives to actually not buy garbage from a country that doesn’t even want them alive. Surely gamers, even though they’ve never been able to find it with themselves before, will somehow figure out how to do the right thing for once in their lives And not fund this shit country.
Surely this is the line in the sand.
Who the fuck am I kidding?
going private with debt is a sign of upcoming bankruptcy, possibly dissolution. but with Kushner and the Saudis, probably more a sign of money laundering
Just when you thought EA couldn’t suck worse they find a way!
Truly sad times
Not because of EA, but because of the private equity shit. They want to control everything
Holy shit, that is a lot of debt... EA is going to be absolutely gutted. I imagine the ones gutting it will be paid generously for the trouble though.
Huge fucking yikes on the privacy side of things, if you didn’t learn from the other 100 negatives about this company…. Enjoy fucking yourself and the world. Stop feeding evil.
I’m surprised that there isn’t any government organization that controls or oversees this kind of buyout, especially when so many billions are involved.
There is, but do you know who Jared Kushner is?
His dad is the president of Nintendo!
This is a genuine question and not a passive aggressive one: why make the submission a link to a social media post when that post is mostly just a link to a news site anyway? (you could include link to or even quote the commentary either in the submission body or a comment if you think it's a valuable addition)
edit: has since been answered in another comment orz, I opened this and then was talking to people for a while before commenting
The new FIFA will be crazy. To celebrate a goal, you can now kill and dismember a sideline reporter.
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