Report: Sony Could Take Full Control of Bungie if It Fails to Meet Financial Targets - NewsWilliam D'Angelo , posted on 03 January 2024 / 3,553 Views
Sony Interactive Entertainment completed its acquisition of Destiny developer Bungie in July 2022. Bungie at the time stated it would "continue to independently publish and creatively develop" their games with its own board of directors.
Bungie could be under threat at losing its independence, according to multiple sources who spoke with IGN.
The sources claim they were told by leaders that the current split board structure could be dissolved by Sony if Bungie fails to meet certain financial thresholds by too great an amount. Sony would then be able to take full control of the developer.
Bungie has been struggling recently as the studio was recently hit with layoffs. It was reported by eight percent of Bungie or about 100 employees were laid off due to a drop off in the popularity of Destiny 2. Executives at the developer at a meeting told employees revenue was 45 percent below projections for the year, according to multiple sources.
Bungie could be facing more layoffs in the future if The Final Shape expansion underperforms.
"We know we need Final Shape to do well," said the source. "And the feeling at the studio is that if it doesn’t we’re definitely looking at more layoffs."
The Final Shape expansion for Destiny 2 was recently delayed from February 27, 2024 release date to June 4, 2024.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.