Just when you think EA can't get any shittier, they find another way to lower the bar.
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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?
So we won't even get a shitty titanfall 3?
Titanfall is cooked. They’re 100% killing the servers. I guess we’ll have to go back to the northstar client.
EA 0.00052 seconds after hearing Nintendo is the worst game company…
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.
It would be interesting if EA pulled away from lootboxes for their owner's ideological reasons.
Maybe they'll remove the gambling. Probably not but it would be good if they did.
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.
Basically Tesla, oof
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.
E A Sports. It’s in the shame!
Rest in piss, EA
If we're lucky, they'll do a Toys-R-Us and make EA fund it's own buyout.
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
Nah the Saudis are desperate to diversify. And they have the money to do it. I know it's leveraged but they'll see it through.
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.
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.
Good riddance. I hope by "private" they mean we won't hear from them again--they're a very private company, they keep to themselves, and never say anything. That sort of private.
(I know that's not what it means)
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
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.
The new FIFA will be crazy. To celebrate a goal, you can now kill and dismember a sideline reporter.
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.
Just when you thought EA couldn’t suck worse they find a way!
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.
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.
Couldn't happen to a nicer company
Truly sad times
Not because of EA, but because of the private equity shit. They want to control everything
Is this better or worse than being a public company?
This specific instance? Worse.
It's being bought by blood money (Kushner's $2billion investment/bribe to hush up the US government about the brutal murder of a US resident journalist at the hands of the Saudis). Plus a country that somehow is even more squeamish about content than the US is in charge - look forward to way more censorship.
Reddit, and by extension Lemmy, have this infatuated vision of how private companies are actually great for customers because whenever somebody asks about Steam the explanation given is that if this were a publicly traded company it would be horrendous but because it's private everything is perfect and there are rainbows inside their offices.
The truth is EA will be just as aggressively profit driven as it already is, the new owners will try to reduce costs just like always, and IPs that sell more will continue to be prioritized just like before.
Essentially a private company can be owned by a dickhead, or a nice person who's not all about profitmaxing. A publicly traded company is forced to maximize shareholder value.
Valve as a publicly traded company would quickly become another EA/Microsoft/Whatever, because it's only the next quarter that matters. Valve under GabeN has been built to bring in large, and yet sustainable profits.
EA's new owners are going to be the absolute worst. So it's going to be a worse company than before.
Consider that Erik Prince's murder-for-hire company is private. So is Xitter now that Melon bought it.
So it's not that private companies are better, but rather that they have the capacity to be better. And it all depends on the owners.
I gave up on EA a long time back, and them not making Alice: Asylum was the final nail in their coffin.
Huh.
So who's betting that EA dissolves over the next few years and they start passing their IPs around to other companies? Not sure how I feel about this because on one hand it could end with EA in the gutter and their dead franchises in the hands of companies that still know how to make games
Mmmhhh, The FIA president, an Emirati, recently consolidated all power and made himself dictator of the association. Now the Saudis bought EA, the publisher that releases the F1 game. Bet the next thing to happen is a Qatari will buy Formula One, the current owner has already stated that he is willing to sell for the right offer.
I haven't bought an EA game since Mass Effect 3. This is just one more reason to never give them my money.
they don’t make good games anymore anyway
They've never made good games. They sometimes allowed one of their devs to make a good game when they weren't looking, but no one is perfect.
Sail the high seas.
For a preview of what happens, look at the embracer buyouts. This is essentially a funeral