TTWO News & Events

"Game On" is The Fly's weekly recap of the stories powering up or beating down video game stocks.NEW RELEASES:This week's most notable new release is Electronic Arts'third-person fighting game "EA Sports UFC 6," which launches June 19 for PlayStation 5and Xbox Series X/S. Also out this week is Square Enix'saction role-playing game "The Adventures of Elliott: The Millennium Tales," which launches June 18 for PC, PlayStation 5, Xbox Series X/S, and Nintendo Switch 2.XBOX LAYOFFS/CLOSURE:Last Wednesday, Bloomberg's Jason Schreier reported that Microsoft's Xbox business is planning significant layoffs next month. The job cuts, the exact scale of which is not yet known, are expected soon after the close of the Xbox maker's fiscal year on June 30, Schreier said, noting that Xbox also intends to significantly slash budgets for marketing and some other parts of the business.That same day, Xbox CEO Asha Sharma and Xbox chief content officer Matt Booty released online a statement it issued to Xbox staff globally. In the statement, the executives discussed the challenges the business faces, including the "hardware component crisis," the massive decline in annual revenue for the business, and the current platform infrastructure not being "built for the battle ahead." The statement did not, however, contain any specific mention of job cuts.Several days later, The Information's Aaron Holmes, citing three people with direct knowledge of the discussions, that Microsoft has considered spinning out or restructuring its Xbox unit, which could make it easier to sell. Microsoft doesn't have any imminent restructuring plans, but those options are on the table, sources told the website.On Monday, however, Bloomberg's Schreier, citing people familiar with the company's plans, that several Xbox development studios, including "South of Midnight" developer Compulsion Games and "Psychonauts" developer Double Fine, are in active talks to spin off as they attempt to ward off closures. Meanwhile, "Hellblade" studio Ninja Theory is also in negotiations with Xbox, as are a number of other studios across the portfolio at risk of being closed, the author noted. Kotaku separately reported that Compulsion, whose workforce counts over 90 staff, would be shut down, while The Verge said that workers at Ninja Theory were informed of a studio closure but are hoping the studio will find a buyer. The Fly notes that "South of Midnight" released just last year, that Double Fine released "Keeper" and "Kiln" within the last eight months, and Ninja Theory's upcoming game "Senua" was announced at the Xbox Games Showcase last week.EA ADVERTISING:On Monday, Electronic Arts announced the launch of EA Advertising, a new platform "transforming how brands connect with audiences through digital and real-world experiences across its global portfolio of games." As part of the launch, EA Advertising is introducing new ways for brands to reach audiences and measure performance across its ecosystem: Brand Partnerships and Gameplay Integrations; Ad Units in 3D Sports Simulations; Enhanced Targeting and Measurement Capabilities; EA SPORTS Partner Program.MORE VIDEO GAME NEWS:Robloxthe global rollout of Roblox Kids and Roblox Select accountsRussia's TASS said that Roblox has resumed operations in Russia,Ubisoftclosed two development studios, which will result in up to 380 layoffs

"Game On" is The Fly's weekly recap of the stories powering up or beating down video game stocks.STATE OF PLAY:Over the past week, multiple game companies have held online and in-person showcases during which they announced a number of new upcoming video games as well as updates for previously announced or released ones. To start, at its State of Play event last Tuesday, Sonymade a number of announcements pertaining to upcoming PlayStation 5 games. Notable announcements include: a new trailer for PS5 exclusive title "Marvel's Wolverine," which launches September 15, 2026; a new trailer for Capcom'saction game "Onimusha: Way of the Sword," out September 25; the announcement of PS5 exclusive "God of War: Laufey," which does not have an announced release date; the unveiling of Ubisoft'splatformer "Rayman Legends Retold," out October 1; a new trailer for Konami's"Silent Hill: Townfall," out September 24; a gameplay trailer for Crystal Dynamics' "Tomb Raider: Legacy of Atlantis," out February 12; and a new trailer for Remedy's "Control Resonant," out September 24.XBOX SHOWCASE:At its Xbox Games Showcase event on Sunday, Microsoft also made a number of notable Xbox-related announcements. Notable announcements include: the introduction of the Xbox Series X25 Limited Edition console; a new trailer for "Call of Duty: Modern Warfare 4" that showed off a new extraction gameplay mode; a new trailer for steampunk RPG "Clockwork Evolution," which is expected to launch in 2027; an announcement for "Doom: The Dark Ages - Revelations," out July 7; a confirmed February 23, 2027 launch date for upcoming RPG "Fable"; a new trailer and extended presentation for shooter "Gears of War: E-Day," which launches October 6 for PC and Xbox Series X/S, with the game announced as an Xbox console exclusive, meaning it will not get a PlayStation 5 port; a July 28 release date for "Halo: Campaign Evolved," a full remake of the single-player content of the first "Halo" game; an announcement for action-adventure title "Senua," out 2027; a reveal for platformer "Spyro: A Realm Beyond," the first new game in the "Spyro" franchise in nearly two decades; a new trailer for Konami's "Castlevania: Belmont's Curses," out October 15; a reveal trailer for Sega's"Crazy Taxi: World Tour," out 2027; a new trailer for Sega's "Persona 4 Revival," a remake of "Persona 4" that launches February 18, 2027; and a teaser trailer for "Persona 6." Of note, all of the announced games will be going to PC as well, with all games besides "Gears of War: E-Day" and "Clockwork Revolution" set to arrive on other platforms at some pointSUMMER GAME FEST:Meanwhile, Summer Game Fest's keynote event was last Friday. Notable announcements at the event included: a reveal trailer for Square Enix's"Final Fantasy VII Revelation, which launches in Spring 2027 for PS5, Nintendo Switch 2, and Xbox Series X/S; a reveal trailer for action title "Stellar Blade: Blood Rain," a sequel to 2024's "Stellar Blade"; an announcement for Capcom's "Monster Hunter Wilds: Ascendance," a downloadable expansion for "Monster Hunter Wilds," out 2027; a new trailer for EA'stactics game "Star Wars: Zero Company," out August 27; a trailer for "Man of Honor," an expansion for Take-Two's"Mafia: The Old Country," out August 14; trailers for upcoming Sega games "Stranger Than Heaven" and "Virtua Fighter Crossroads"; and an announcement trailer for "Resident Evil Veronica," a remake of "Resident Evil - Code: Veronica," out in 2027.NINTENDO DIRECT:During a Nintendo Direct presentation on Tuesday, Nintendo made a number of announcements pertaining to games coming for Switch 2, including: a remake of 1998's "The Legend of Zelda: Ocarina of Time," out 2026; an expansion pass for "Pokemon Pokopia," which will release in three parts later this year; an announcement that Square Enix's "Kingdom Hearts IV" will eventually launch day and date on Switch 2; a reveal trailer for RPG "Xenoblade Genesis," out 2027; Capcom games "Onimusha: Way of the Sword," "Dragon's Dogma 2," and "Devil May Cry 5" are coming to Switch 2, as is Sega's "Metaphor: ReFantazio"; an announcement of a September 17 release date for "Fire Emblem: Fortune's Weave", as well as confirming "Splatoon Raiders" will release July 23; a reveal trailer for "Nintendo Switch Sports Resort," out October 22; and a reveal trailer for Square Enix role-playing game "Final Fantasy Resonance."MORE VIDEO GAME NEWS:Valve said its upcoming gaming consoleand its VR headset Steam Frame will be shipping "this summer"Paramount Skydanceannounced theBandai Namco's"Elden Ring: Tarnished Edition"Capcom's "Street Fighter 6" hasworldwide since its 2023 releasePlayStation 5 sales in the U.K. fell 50% in May,Xbox chief strategy officer Matthew Ball said that the gaming company's subscription service Xbox Game Pass lost "millions" of subscribers in the period of a few months after the service received a 50% price hike in October 2025,