On the other hand, ZeniMax Media Chairman and CEO Robert Altman said, “This is a thrilling day for this company, our employees, and our fans. We have enjoyed a close partnership with Microsoft for decades, and this deal is a natural progression of those years working together.”
Microsoft will be adding about 2,300 ZeniMax Media employees to its payroll. The deal is expected to close in the second half of fiscal 2021.
The tech giant bowed out of negotiations to buy an interest in TikTok, but it is continuing its strategy of using mergers and acquisitions to stay connected to young consumers.
The video game console market
We are in the ninth generation of video consoles. On November 10, Microsoft is launching new consoles. The Xbox Series X and stripped-down Series S version will compete with Sony’s new PlayStation 5 console, which is also scheduled for release in November.
Bethesda has two studios developing upcoming titles that are by-contract will be released first on Sony consoles. Microsoft agreed to honor those commitments to Sony but future games and cross-platform availability will be reviewed on a “case-by-case basis,” Phil Spencer, head of Xbox, told Bloomberg News.
The Gamepass advantage
Microsoft said it is buying Bethesda to help increase the choices in its Xbox Game Pass game subscription service. Which now has over 15 million subscribers.
