Activision Blizzard vs Stillfront Group

One in Three Acquired Game Studios Shut Down Since 2000

A new analysis of over 300 game studios acquired by major companies since 2000 reveals that one in three has been shut down completely, with half closing within five years of acquisition. The study, conducted by Sebastian Cardoso (ex-Riot, Crytek, EA) and published on the Game Studio Unlocked newsletter, found that 60.8% of acquired studios saw either declining output or closure, and only 25.1% remained institutionally intact and producing at prior levels. The acquirer's identity was the strongest predictor of fate: all 17 Activision Blizzard ownership periods ended in decline or closure, as did Disney, Midway, and Thunderful; EA's figure was 83%. In contrast, Nintendo, Kadokawa, Krafton, and Sumo Group had clean records. Closures have accelerated, with 33 since 2023 versus just one from 2019-2022. Self-founded studios fared worse (87.5% declined or closed), while independent studios showed a 2% closure rate over seven years.

• One in three acquired game studios shut down since 2000.
• 60.8% of acquired studios saw decline or closure.
• All 17 Activision Blizzard acquisitions ended in decline or closure.

Private Equity Eyed $150bn Xbox Buyout, Microsoft Says Not For Sale

A group of private equity firms reportedly explored acquiring Microsoft's Xbox gaming division in a deal that could have valued the business between $100 billion and $150 billion, according to The Information. The talks were exploratory and did not lead to formal negotiations with Microsoft. Microsoft responded with a statement that 'Xbox is not for sale'. The report comes as Microsoft continues efforts to turn around the division, whose revenue fell 7% to $21.8 billion in the fiscal year ending June, with adjusted profit margins dropping to 3%. The division includes Activision Blizzard, acquired in 2023, and employs around 14,000 people. Microsoft has also considered spinning out Xbox or restructuring it as a wholly owned subsidiary. Recently, it announced job cuts of 3,200 employees and new divisions to expand franchises via media and live experiences.

• Private equity firms explored buying Microsoft's Xbox division, valuing it at $100-150 billion.
• The talks were exploratory and did not lead to negotiations with Microsoft; Microsoft said Xbox is not for sale.
• Xbox revenue fell 7% to $21.8 billion for the fiscal year ending June, with adjusted profit margin dropping to 3%.

Minecraft Blast testing expands to Canada and Australia

Minecraft Blast, a new puzzle game developed by King in collaboration with Mojang, is expanding its testing phase to Canada and Australia this October. The game combines Minecraft's IP with King's expertise in casual puzzle games. It was conceived after Microsoft's acquisition of Activision Blizzard, enabling collaboration between the two studios. The game features blast-style gameplay where players clear puzzles to earn energy and build a voxel world. Testing aims to validate player engagement, retention, and monetization. The first test in Malaysia showed positive results, and the upcoming Western test will be limited to a few weeks. A global launch is still far off, but the developers are focused on quality and broad appeal.

• Minecraft Blast is expanding its testing phase to Canada and Australia in October 2026.
• The game is developed by King, with Mojang overseeing IP representation.
• The game was conceived after Microsoft's $69 billion acquisition of Activision Blizzard (including King).

Stillfront appoints Marcus Jacobs as CEO

Stillfront Group, a Swedish gaming firm behind titles like Albion Online and BitLife, has appointed Marcus Jacobs as its new President and Group CEO, effective November 1, 2026. Jacobs brings over 25 years of games industry experience, including roles as director of monetisation at Electronic Arts, seven years on King's Candy Crush executive team, and chief commercial officer at Embark Studios. He also served on Stillfront's Board of Directors from 2022 to 2026. Jacobs will succeed Alexis Bonte, who remains in the role until the handover. The announcement accompanied Stillfront's Q3 2026 results, which showed net revenue of SEK 1,291 million (~$130 million), down 1% year-on-year, and adjusted EBITDAC of SEK 366 million (~$36.8 million), a 16% decline. Bonte attributed the dip to deprioritized catalogue games, while key franchises like Big, Empire, and Board grew organically for the fifth consecutive quarter.

• Marcus Jacobs becomes Stillfront's President and Group CEO on November 1, 2026, succeeding Alexis Bonte.
• Jacobs has over 25 years of games industry experience, including roles at EA, King, and Embark Studios, and served on Stillfront's Board from 2022 to 2026.
• Stillfront reported Q3 2026 net revenue of SEK 1,291 million (~$130 million), down 1% year-on-year.

Stillfront appoints Marcus Jacobs as new President and Group CEO

The Board of Directors of Stillfront Group AB (publ) has appointed Marcus Jacobs as new President and Group CEO.