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Xbox Boss Phil Spencer Isn't Retiring, Despite Rumors Otherwise

Xbox Boss Phil Spencer Isn't Retiring, Despite Rumors Otherwise https://ift.tt/tYsSWy6 The rumored Xbox layoffs arrived earlier today, and they were even deeper than expected. Microsoft made significant job cuts across the board, including the cancelation of Rare's Everwild and a new MMO from The Elder Scrolls Online team . But Xbox boss Phil Spencer still has his job, and despite rumors to the contrary, he isn't retiring. Xbox's head of communications Kari Perez told The Verge that, "Phil is not retiring anytime soon." That was in response to a rumor spread by Call of Duty leaker GhostofHope that claimed Spencer will step down from his role as Microsoft Gaming CEO after the next-generation Xbox console launch, which would pave the way for Xbox president Sarah Bond to succeed him. As that rumor gained traction, Microsoft communications chief Frank Shaw posted on X that it was made up. In response to the outcry over the layoffs, Spencer claimed that the ...
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Take-Two Buys Gearbox Entertainment From Embracer For $460M

Take-Two Buys Gearbox Entertainment From Embracer For $460M https://ift.tt/k1CBDEw

After months of rumors that Embracer Group was looking for buyers for Borderlands developer Gearbox Entertainment, the studio is now officially being sold to 2K parent company Take-Two Interactive in a deal worth $460 million.

Gearbox was one of Embracer Group's biggest acquisitions when it bought the company in 2021, in a deal worth up to $1.3 billion. As the deal was based on Gearbox reaching certain milestones, it's unclear how much of that $1.3 billion Embracer ended up paying out beyond $363 million in guaranteed upfront payments.

Now, as reported by Brian Crecente on X, Take-Two Interactive has purchased Gearbox for $460 million, which will be paid out in Take-Two shares. The purchase includes Gearbox Software in Texas, Gearbox Montreal, and Gearbox Studio Quebec, and will cover Gearbox IP including Borderlands and Tiny Tina's Wonderlands, Risk of Rain, Brothers in Arms, and Duke Nukem.

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