February 9, 2024
1 min read

Disney to invest $1.5 bn in Epic Games

This marks Disney’s biggest entry ever into the world of games and offers significant opportunities for growth and expansion..reports Asian Lite News

Entertainment giant Disney has said that it will invest $1.5 billion to acquire an equity stake in the ‘Fortnite’ maker Epic Games and work with the game developer to create a “games and entertainment universe”.

The universe will allow consumers to “play, watch, shop and engage with content, characters and stories from Disney, Pixar, Marvel, Star Wars, Avatar and more”.

“Our exciting new relationship with Epic Games will bring together Disney’s beloved brands and franchises with the hugely popular Fortnite in a transformational new games and entertainment universe,” Robert A. Iger, CEO, The Walt Disney Company, said in a statement.

“This marks Disney’s biggest entry ever into the world of games and offers significant opportunities for growth and expansion,” he added.

The partnership comes after Disney’s successful licensing of characters such as Spider-Man for blockbuster video games. Disney also collaborated with Epic to bring characters from Marvel, Star Wars, “The Nightmare Before Christmas,” “Tron,” and more to Fortnite.

“Disney was one of the first companies to believe in the potential of bringing their worlds together with ours in Fortnite,” said Tim Sweeney, CEO and Founder, Epic Games.

“Now we’re collaborating on something entirely new to build a persistent, open and interoperable ecosystem that will bring together the Disney and Fortnite communities,” he added.

Moreover, the entertainment giant mentioned that the two companies have already engaged hundreds of millions of players through Fortnite content, including the Marvel ‘Nexus War with Galactus’, which drew over 15.3 million concurrent players.

Apart from Fortnite, Epic Games is well-known for challenging Apple and Google in court to force them to reduce their app store fees.

ALSO READ: UBS deepens cost-cutting drive

Previous Story

Job Cuts at Grammarly

Next Story

‘T20 World Cup to Offer Carnival Feel for Fans’

Latest from Business

Gold Shines Bright Amid Global Jitters

Gold and silver continued their bullish run on Monday, scaling new highs amid mounting global uncertainties, heightened geopolitical tensions, and growing expectations of a US Federal Reserve rate cut. According to the

ADNOC signs 15-year LNG deal with Indian Oil

Under the deal, LNG cargoes can be delivered to any port across India, enhancing the country’s energy security and meeting its rising energy demand. Abu Dhabi National Oil Company (ADNOC) has signed

PM Modi: India poised to lead next tech wave

PM Modi underscored that the country is poised to lead the next wave of digital transformation in 5G…reports Asian Lite News Prime Minister Narendra Modi on Wednesday hailed India’s progress in expanding

India Hits 100GW Solar

The expansion is not only in scale but also in quality, with significant capacity dedicated to high-efficiency modules. Many manufacturers have adopted vertically integrated operations, enhancing quality, reducing costs, and improving resilience
Go toTop

Don't Miss

Jairam attacks Modi, Jaishankar over Katchatheevu row

The Congress leader said that the BJP will fail to

India buying Russian oil none of our business: German envoy

Speaking about Germany’s efforts to find a solution to the