Disney investing $1.5B in NC-based Epic Games
Disney is betting big on Epic Games, announcing a major investment in the North Carolina-based creator of Fortnite.
Bob Iger, CEO of Disney, took the company’s earnings call on Wednesday as an opportunity to announce a $1.5 billion investment in Epic Games, according to our newsgathering partners at ABC11.
Epic Games, headquartered in Cary, has incorporated playable Disney characters into Fortnite in the past. Iger said Disney plans to work with Epic Games to create a new virtual reality universe and new games incorporating more characters from its portfolio of properties like Marvel and Star Wars.
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“Our exciting new relationship with Epic Games will bring together Disney’s beloved brands and franchises with the hugely popular Fortnite in a transformational new games and entertainment universe,” said Iger. “This marks Disney’s biggest entry ever into the world of games and offers significant opportunities for growth and expansion.”
Tim Sweeney, CEO and founder of Epic Games, said the collaboration will bring something entirely new to gamers.
Creating a new universe ✨@Disney x Epic Gameshttps://t.co/gTwt5e3dpz pic.twitter.com/iPC0T2FlzU
— Fortnite (@FortniteGame) February 7, 2024
“Disney was one of the first companies to believe in the potential of bringing their worlds together with ours in Fortnite, and they use Unreal Engine across their portfolio,” said Sweeney. “Now we’re collaborating on something entirely new to build a persistent, open and interoperable ecosystem that will bring together the Disney and Fortnite communities.”
Cary Mayor Harold Weinbrecht said he believes the investment is good news and looks forward to seeing the impact it will have on Epic Games and Cary.
“Hopefully, Epic and Disney will develop a long partnership,” Weinbrecht said in a release. “Regardless of your place or stage in life, millions of people around the world have found inspiration, happiness, excitement, and joy in the experiences offered by Disney and Epic Games, so collectively we can’t wait to see what comes next for those of us in Cary. We are excited to see how both companies will come together to stay on ‘Top of the Arc’ and what role Cary, NC plays in that.”
Shares of Disney jumped after the results came out that Disney exceeded earnings expectations.
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