London: The video game industry has had a remarkable week, with Electronic Arts completing a landmark $55 billion buyout, Grand Theft Auto VI entering a much bigger marketing phase and indie publisher Devolver Digital announcing plans to leave the stock market.
Amid the corporate upheaval, there is also a more welcome development for music fans. Australian electronic group The Avalanches have returned with a new single, “Can’t Get Over Losing You”, offering a rather different soundtrack to an industry dealing with acquisitions, shifting business models and enormous expectations.
The developments highlight how dramatically the gaming business has changed. Some of the world’s biggest publishers are now increasingly influenced by sovereign wealth funds and private capital, while smaller independent companies are reconsidering whether being publicly listed is compatible with the unpredictable economics of game development.
Saudi-backed consortium completes EA takeover
The biggest development is the completion of Electronic Arts’ $55 billion take-private transaction.
EA is now privately owned by a consortium involving Saudi Arabia’s Public Investment Fund (PIF), private equity firm Silver Lake and Affinity Partners. The deal has transformed one of the world’s largest video game publishers from a publicly traded company into a privately held business.
The transaction is one of the largest leveraged buyouts in history and represents a significant expansion of Saudi Arabia’s involvement in the global entertainment industry.
EA’s portfolio includes some of the biggest franchises in gaming, including EA Sports FC, Madden NFL, The Sims, Battlefield and Apex Legends. The company has spent decades building a position across sports games, blockbuster action titles, live services and mobile entertainment.
The acquisition also brings renewed attention to the role of Saudi Arabia’s PIF in the international games industry. The sovereign wealth fund has previously invested heavily in gaming companies and related entertainment businesses as part of the kingdom’s broader economic diversification strategy.
EA has said the new ownership structure will provide long-term capital and allow the company to accelerate creativity and innovation. However, the transaction is also likely to generate continued debate about the influence of sovereign wealth and geopolitical interests on major entertainment companies.
For players, the immediate question is what the takeover means for EA’s games. There has been no announcement of a sweeping change to the company’s studios or major franchises, meaning the longer-term effects will likely become clearer through future releases, investment decisions and corporate strategy.
GTA VI marketing enters a new phase
If the EA acquisition represents the business side of gaming, Grand Theft Auto VI represents the industry’s extraordinary ability to generate cultural attention.
Rockstar Games’ parent company Take-Two Interactive has repeatedly reaffirmed November 19, 2026 as the release date for Grand Theft Auto VI. Take-Two CEO Strauss Zelnick previously confirmed that Rockstar’s marketing campaign would begin during the summer.
That marketing campaign is expected to look very different from the traditional blockbuster game campaigns of the past.
Zelnick has indicated that the company intends to build a broad campaign around where audiences consume entertainment today, rather than relying heavily on traditional television advertising. The strategy reflects the enormous reach of social media, streaming platforms, influencers and online communities.
The scale of interest surrounding GTA VI means Rockstar does not need to convince audiences that the game exists. Instead, the challenge is keeping attention focused on the title for months before launch without exhausting the audience.
That has already created a strange marketing environment in which every trailer, screenshot, product listing, rumour and social media post can become a major news event.
The game is expected to be one of the biggest entertainment launches of 2026, and its November release is already influencing the schedules of other publishers. The sheer size of the Grand Theft Auto brand means smaller and mid-sized games risk being drowned out if they launch too close to Rockstar’s blockbuster.
Devolver Digital decides public markets are not worth it
Another striking development this week came from Devolver Digital.
The indie publisher has announced plans to cancel its listing on London’s AIM market and return to private ownership. The company went public in November 2021, but its management now argues that the demands of the public market do not fit the unpredictable nature of the video game business.
Devolver has pointed to the difficulties of delivering consistent growth in an industry where development cycles are long, game launches are unpredictable and consumer spending can change quickly.
The company also expects going private to reduce annual costs by approximately $1.6 million. Its board believes the public valuation does not accurately reflect the underlying value of the business.
Shareholders are expected to vote on the proposal in September. If approved, Devolver is expected to leave the AIM market in September.
The move is particularly interesting because Devolver has historically positioned itself as an alternative to the conventional games industry. The publisher became known for supporting unusual, creative and often experimental titles rather than relying exclusively on blockbuster franchises.
Its return to private ownership therefore raises a broader question: was becoming a publicly traded company the wrong structure for a publisher whose business depends on discovering a handful of successful games among a much wider portfolio?
The answer is not necessarily straightforward. Going private does not eliminate shareholders or financial pressures, but it can reduce the demands associated with public reporting, market expectations and short-term share-price movements.
Was going public Devolver’s big mistake?
The decision has prompted considerable discussion among gamers and industry observers.
Devolver’s original public listing valued the company at hundreds of millions of pounds. Since then, the wider video game industry has experienced layoffs, project cancellations, shifting platform economics and growing development costs.
The problem is particularly acute for indie publishers. A large blockbuster can generate billions of dollars in revenue, while a smaller game may need only a modest audience to become successful. That makes predictable quarterly growth difficult.
Devolver’s management has argued that the public-market structure has not been a good match for those realities. The company now wants to focus on long-term creative and business decisions rather than meeting market expectations.
That makes the situation an interesting counterpoint to EA.
EA is moving from public ownership into the hands of a large investment consortium, while Devolver is voluntarily seeking a return to private ownership after several years as a listed company.
Both moves point towards the same underlying issue: traditional public-market expectations can be difficult to reconcile with an entertainment industry where success is inherently unpredictable.
The Avalanches provide a welcome musical detour
Away from corporate gaming news, The Avalanches have provided something much more pleasant to talk about.
The Australian electronic group has released “Can’t Get Over Losing You”, a new single featuring Portraits of Tracy. The track arrives ahead of the group’s fourth album, No Bad Memories, scheduled for release on October 16.
The release marks another chapter for a group whose discography has always been defined by ambitious sampling, unexpected collaborations and an unusually detailed approach to electronic music.
The Avalanches first became globally known through their 2000 debut album Since I Left You. The album became famous for its intricate sample-based construction and remains one of the defining releases of the plunderphonics movement.
Their follow-up, Wildflower, arrived in 2016 after a 16-year gap. The group subsequently became more consistent, releasing We Will Always Love You in 2020.
No Bad Memories will be their first album since 2020 and their third major studio album since their celebrated debut.
According to recent reporting, the new record will explore material drawn from areas including jingles and advertisements and is expected to contain 31 tracks. Several previously released songs will also appear on the album.
For longtime fans, the new single is therefore more than just another standalone track. It signals the arrival of a new Avalanches era after a six-year gap between albums.
Gaming’s strange new era
Taken together, the week’s developments paint a fascinating picture of the modern entertainment industry.
EA, one of gaming’s largest companies, is now privately controlled by a consortium led in part by Saudi Arabia’s sovereign wealth fund. Devolver Digital, an independent publisher once valued at hundreds of millions of pounds, is attempting to leave the public markets. Meanwhile, Rockstar Games is preparing the biggest marketing campaign of its generation around Grand Theft Auto VI.
The common thread is scale.
The largest publishers are attracting enormous pools of investment because successful intellectual property can generate revenue across games, online services, mobile platforms, film, television and merchandise. At the other end of the industry, smaller publishers are looking for structures that give them enough flexibility to survive unpredictable launches.
And somewhere in the middle of all this, The Avalanches are reminding everyone that games and entertainment are still ultimately about creativity.
Conclusion
The video game industry is entering a period of significant change. EA’s $55 billion takeover demonstrates the extraordinary financial value attached to major gaming companies, while Devolver Digital’s proposed return to private ownership highlights the difficulties smaller publishers can face in public markets.
At the same time, Grand Theft Auto VI is shaping the industry’s release calendar and marketing strategies months before its November launch.
For players, the business developments may not immediately change what appears on their screens. But over time, ownership decisions, financial pressures and marketing strategies will influence which games get made, how they are funded and how they reach audiences.
And for those looking for a break from all the corporate drama, there is always a new Avalanches track waiting with headphones at the ready.