Disney to sell Fox video game arm
The move comes following the company’s purchase of 21st Century Fox earlier this year
If anyone has some extra change lying around, this is the chance to pick up a major video game operation.
Earlier this year, the Walt Disney Co. purchase 21st Century Fox for $71 billion and the company has been slowly looking to let go some of its assets. The latest asset to be put up for sale is FoxNext, the video game arm that was part of the acquisition. No price has been mentioned, so that must mean that any offer would be considered.
FoxNext was founded two years ago, just getting started before the acquisition. It makes free-to-play mobile games that are based on entertainment properties, including Marvel Strike Force, and has been relatively successful. MSF, for example, earned over $150 million its first year and the company has also been working on variations of both the Aliens and the Avatar films.
Video games apparently don’t mesh with Disney’s family-first business mentality, the same way that it has avoided, as much as possible, getting into gambling. The company has tried before, offering its Infinity line of games and toys, but shut the operations down in 2016. It now prefers simply licensing its intellectual property to other developers so they can do all the hard work. Disney CEO Bob Iger has stated, “We’ve just decided that the best place for us to be in that space is licensing and not publishing.”
Along with FoxNext, Disney had picked up Fox’s regional sports networks, which it has already sold. The acquisition also included a piece of the Eredivisie soccer team out of the Netherlands and Afghanistan’s largest media company, Moby Group. It also included a gambling entity, but hasn’t said whether or not it will dump it.
21st Century Fox had a stake in sports gambling company DraftKings, and that stake now belongs to Disney.