Disney To Invest USD 1.5 Billion in Epic Games To Create Games and Entertainment Universe
Our exciting new relationship with Epic Games will bring together Disney’s beloved brands and franchises with the hugely popular Fortnite in a transformational new games and entertainment universe," Robert A. Iger, CEO, The Walt Disney Company, said in a statement.
San Francisco, February 8: Entertainment giant Disney has said that it will invest $1.5 billion to acquire an equity stake in the 'Fortnite' maker Epic Games and work with the game developer to create a "games and entertainment universe". The universe will allow consumers to "play, watch, shop and engage with content, characters and stories from Disney, Pixar, Marvel, Star Wars, Avatar and more".
"Our exciting new relationship with Epic Games will bring together Disney’s beloved brands and franchises with the hugely popular Fortnite in a transformational new games and entertainment universe," Robert A. Iger, CEO, The Walt Disney Company, said in a statement. "This marks Disney’s biggest entry ever into the world of games and offers significant opportunities for growth and expansion," he added. OpenAI To Add Watermark to AI-Generated Using 'DALL-E 3 Model', Will Adopt 'C2PA Technical Standard' Amid Growing Concerns of Misusing Information Ahead of Election.
The partnership comes after Disney's successful licensing of characters such as Spider-Man for blockbuster video games. Disney also collaborated with Epic to bring characters from Marvel, Star Wars, “The Nightmare Before Christmas,” “Tron,” and more to Fortnite. "Disney was one of the first companies to believe in the potential of bringing their worlds together with ours in Fortnite," said Tim Sweeney, CEO and Founder, Epic Games. WhatsApp New Update: Meta-Owned Platform To Allow Third-Party Messaging Apps Before EU’s Digital Markets Act Comes Into Force in March 2024.
"Now we’re collaborating on something entirely new to build a persistent, open and interoperable ecosystem that will bring together the Disney and Fortnite communities," he added. Moreover, the entertainment giant mentioned that the two companies have already engaged hundreds of millions of players through Fortnite content, including the Marvel 'Nexus War with Galactus', which drew over 15.3 million concurrent players. Apart from Fortnite, Epic Games is well-known for challenging Apple and Google in court to force them to reduce their app store fees.
(The above story first appeared on LatestLY on Feb 08, 2024 10:48 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).