Tencent reportedly weighing exits from some studio stakes, but not FromSoftware

Bloomberg reported that Tencent is negotiating exits from several minority investments in video game studios as part of a reassessment of its portfolio. The company is looking to offload stakes in multiple partners, and the only studio named was Marvelous, developer of Story of Seasons and Daemon X Machina.

Tencent holds minority investments in Ubisoft, Bloober Team, Epic Games, Shift Up and Remedy, and it acquired a 20% stake in Marvelous in 2020. The tech giant is reportedly considering selling stakes back to original management in some cases, even if it incurs a loss.

The announcement follows a separate report last week about French developer Don't Nod, where Tencent — which owns a 42% stake — is said to be unlikely to continue backing the studio after missed sales expectations; that report suggested Don't Nod could face closure unless it secures a publishing deal with an external partner for its next project.

France

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