The Walt Disney Co. said Wednesday it is paying $1.5 billion for a stake in "Fortnite" maker Epic Games, working with the game developer to create a "games and entertainment universe" that will feature games, shows and characters from Disney, Pixar, Marvel, Star Wars, Avatar and more.
"This marks Disney's biggest entry ever into the world of games and offers significant opportunities for growth and expansion," Disney CEO Bob Iger said in a statement.
Disney said the two companies have already collaborated on "Fortnite" content, including the Marvel "Nexus War with Galactus," which drew more than 15.3 million concurrent players.
Avid completes acquisition of Wolftech
Avidยฎ, known for software solutions for professional media production, has completed the acquisition of Wolftech Broadcast Solutions, a leader in cloud-based multiplatform news planning, production and publishing solutions.
The acquisition enables Avid to combine its digital-first, end-to-end media solution with Wolftechโs expertise in story-centric workflow management. News organizations will be able to increase efficiency and accelerate story delivery through enhanced remote collaboration and multiplatform amplification.
Avid CEO Wellford Dillard stated, โWolftech is unquestionably on the leading edge of where the industry is going, and this acquisition demonstrates Avidโs commitment to transform news, sports, and live production workflows. We are delighted to welcome Wolftech into the Avid family.โ
Wolftech CEO Arne Berven added, โWe were focused on finding a partner that could accelerate the adoption of our platform globally. We explored a number of possibilities, but when we talked to Avid, we knew it was the right match.โ
The closing of the acquisition follows Avidโs announcement on October 7 that the company had entered into a definitive agreement to acquire Wolftech.
With this acquisition, Avid deepens the integration between the two toolsets while continuing to embrace an open approach in partnering with a wide range of media production tools and newsroom systems. Existing Wolftech customers will benefit from Avidโs global scale for customer support and professional services.
Ian Axton, head of production operations for ITV News, said, โAs a customer of both Avid and Wolftech weโre excited about the benefits this acquisition will bring to our users and our business. Wolftech has transformed... Read More