Member Since: 3/20/2011
Posts: 26,615
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Sony Acquires Nintendo for 2.5 Billion Dollars
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Nintendo fans across the globe are heartbroken, as the company announced today it has filed for bankruptcy. Nintendo reps made a formal announcement to the Kyoto Shimbum newspaper earlier today, which translates as follows:
"It is our sad duty today to announce that Nintendo, after providing innovative video gaming experiences for over three decades, must re-evaluate its position in the global electronic market. A decision made by our executive board to apply for court protection under the Court Rehabilitation Law due to creditor debts owed requires us to make some hard decisions pertaining to our properties. It is our hope that we can still provide our consumers with valuable entertainment experiences in the future as we work through this situation."
One hour later it was announced that Nintendo's rival, Sony Entertainment has agreed to step in and bail out the Big N for a reported 2.5 billion dollars. The terms of the deal also detail plans for Nintendo to become an exclusive first party developer for Sony thus ending Nintendo's foray into the hardware business.
There was no announcement about the cessation of production of Nintendo's current handheld platform, the 3DS, though specific mention of halting "home console production" could mean that, at least for the moment, production will continue for the handheld hardware. After a troubled start, the Nintendo 3DS has since mushroomed with strong sales due to increased releases of critically acclaimed titles. While the Wii U has struggled since its 2012 launch.
The first Nintendo developed title for the PS4, a sequel to the highly successful Super Mario Galaxy 2, will arrive sometime in Winter of 2016.
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Welp.
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Ciara better get that promo.
