Sony Writes Off $560 Million Due to Bungie Acquisition Missteps
Sony's gaming division has written off $560 million in losses related to Bungie, which was acquired for $3.6 billion in 2022.
This is not the first time Sony has reported losses associated with Bungie. Over the past year, the total write-offs have reached approximately $765 million, and according to the latest report, further write-offs may occur in the current financial year.
The report does not specify which Bungie assets were revalued, leading to the $560 million write-off. This write-off occurred shortly after the release of the multiplayer shooter Marathon — Bungie's first new project in a decade.
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Contrary to expectations, the report does not disclose sales figures or audience metrics for Marathon. Two months have passed since the game's release, and the lack of published statistics is generally seen as a bad sign.
According to insiders, after Bungie's failures over the past four years, Sony has taken control of the studio, replacing its previous management. Long-time Bungie head Pete Parsons has left the company.
