Sony’s Acquisition of Bungie Raises Questions
A recent report has raised concerns about the acquisition of Bungie by Sony, suggesting that the studio may have misled the PlayStation company about its financial status. This revelation comes following a series of layoffs at Bungie, including the departure of long-time senior executives, leading to speculation about the leadership of CEO Pete Parsons.
The $3.6 Billion Question: Was Sony’s Purchase of Bungie Justified?
Veteran journalist Stephen Totilo’s investigation into the matter uncovered insights from former Bungie employees, with one suggesting that Sony may have paid too much to acquire the studio. The employee alleged that Bungie sold Sony on promises they couldn’t keep, raising doubts about the value of the $3.6 billion deal. Despite the success of Destiny 2: The Final Shape, rumors suggest that the recent layoffs were planned well before the expansion’s release.
Interestingly, it appears that Bungie may have been in a precarious position prior to the acquisition, with one source indicating that the studio was facing possible insolvency if a deal hadn’t been struck with Sony. This desperation to secure a partnership sheds new light on the circumstances surrounding the acquisition.
NEW: I spoke to ex-Bungie workers about yesterday’s big cuts
– This round was in the works prior to Final Shape
– Feeling is Bungie bosses oversold studio to Sony
– Not selling would’ve been worse? Source: “The alternate history is insolvency”
My story:https://t.co/QXm0qzeSQ8— Stephen Totilo (@stephentotilo) August 1, 2024
With the recent layoffs reducing Bungie’s workforce to 850 employees from its peak numbers, questions are being raised about the studio’s future. Having focused solely on Destiny and its sequel for the past decade, Bungie’s track record with past partners like Microsoft and Activision is also under scrutiny. The departure of senior executives Luke Smith and Mark Noseworthy further underscores the challenges facing Bungie’s management.