One of the biggest pieces of news in gaming this year was EA’s announcement that it was selling itself for $55 billion to investors including Saudi Arabia. The announcement of the deal has sent shockwaves through the gaming world, and now Head of Xbox Game Studios Matt Booty has commented on the deal, saying the price tag reflects how big video games have come in the global media landscape.
“Games have really become a foundational part of entertainment,” Booty told Variety. “And as such, I think we’re seeing these valuations and transactions that really reflect their place in modern entertainment.”
The price of the sale “reflects the value that exists in all of” the gaming IP that EA owns, including Madden, FC, and The Sims, Booty said.
