Disney set to buy stake in Fortnite maker Epic Games in a deal valued at $1.5B
Disney will integrate the latter into a new games and entertainement universe to enable consumers to play, watch, create, and shop for both digital and physical goods.
Disney is set to buy equity stake in Fortnite maker Epic Games in a deal valued at approximately $1.5 billion, CEO Bob Iger told investors in the latest earnings call.
The former will integrate the latter into a new games and entertainment universe to enable consumers to play, watch, create, and shop for both digital and physical goods. The move also marks Disney's entry into the video games space.
"This new universe from Disney and Epic provides us with a tremendous opportunity to not only meet more consumers where they are, but to allow more audiences to cultivate a bond with Disney’s iconic brands and franchises," Iger said.
In February last year, Epic Games in a plea to National Companies Law Appellate Tribunal alleged that Google was frightening users by displaying dire warnings and technically complex steps, causing them difficulty to download apps.
Earlier this month, the Supreme Court of the United States denied a request to hear an antitrust dispute between Apple and Epic Games. It rejected petitions from both parties, The Verge reported.
The battle between Epic Games and Apple has been going on from 2020, since the Fortnite maker implemented its own payment mechanism within the game bypassing Apple's commission on in-app purchases.
Fortnite is a survival action video game developed and published by Epic Games.
Disclaimer: This story has been updated to correct a factual error.
Edited by Megha Reddy