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22.01.26 - 20:12
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Ubisoft cancels projects and announces restructure in fight to stay competitive (The Guardian)
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Video game publisher to cancel Prince of Persia remake and close studios after several difficult yearsThe video game publisher behind the Assassin's Creed series has cancelled six projects including a remake of Prince of Persia: The Sands of Time as it fights to stay competitive in the global gaming market.Ubisoft announced a sweeping reorganisation and said it would cancel six games, sending its shares to their lowest level in more than a decade on Thursday. Continue reading......
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22.01.26 - 14:21
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Ubisoft Crashes Most On Record After Tom Clancy′s Rainbow Six Maker Unveils Reorganization, Cancels Games (ZeroHedge)
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Ubisoft Crashes Most On Record After Tom Clancy's Rainbow Six Maker Unveils Reorganization, Cancels Games
Ubisoft Entertainment SA shares in Paris crashed the most on record after the maker of Tom Clancy's Rainbow Six Siege (more commonly known for Assassin's Creed) announced widespread restructuring, studio closures, project cancellations, and sharply lower guidance.
Shares plunged as much as 36% in the intraday session, currently down 33%, the steepest drop on record.
Shares are down to around 2011 lows. Will the 2002 lows be next?
The French gaming company said it expects a 1 billion euro EBIT loss in FY 2025-26, driven by a one-off 650 million euro writedown tied to the restructuring. It will close studios in Stockholm and Halifax, cut about 100 million euros in fixed costs by March (a year ahead of plan), and target an additional 200 million in cuts over the next few years.
Six games were canceled and seven delayed, including the long-awaited Prince of Persia: The Sands of Time remake,...
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