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News Witcher 3 Dev Responds to Hostile Takeover Rumors

News Bot Nov 10, 2016

  1. News Bot

    News Bot Chaos Immortal

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    Earlier this week, The Witcher developer CD Projekt Red announced a November 29 meeting during which shareholders will vote on measures that would help defend itself from a potential hostile takeover. Some feared this voting session may have been in response to an outside company eyeing the Polish studio for a buyout. But this does not appear to be the case.

    A spokesperson for CD Projekt Red said this measure is not in response to any recent event. The meeting is taking place to vote on preventative measures, should the company ever face a hostile takeover bid.

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    "As for the rumor, it emerged after the [board of directors] suggested introducing a voting cap during the upcoming shareholder meeting. However, the proposal is not a reaction to any current events affecting CD Projekt," a spokesperson told GameSpot. "Rather, it is meant as insurance against future hypothetical scenarios which may never materialize. We wish to safeguard the interests of minority shareholders in a hypothetical case where a major shareholder emerges professing a business and strategic vision which conflicts with ours."

    Wccftech was first to report on CD Projekt Red's statement.

    This is not the first time that CD Projekt Red has responded to reports about a possible takeover. In September 2015, it was claimed that the studio was in talks with Electronic Arts about a buyout, but CD Projekt Red later denied this.

    Speaking to Develop in June 2015, CD Projekt said it gets approached by companies for acquisition on a "regular basis," but added that it doesn't plan on giving up its independence.

    In 2013, CD Projekt Red studio head Adam Badowski said being independent is a "crucial" component of the developer's overall strategy.

    "That means we need to be independent in both ways. First, financially and secondly creatively; they're both crucial for us," he said. "So as a company we're listed publicly on the Warsaw stock exchange, which gave us financial independence and creatively we own all our IP so we're free to invest in our own business with total creative freedom. This gives us a fresh eye in the studio, so it's very important to us. Maybe we could get extra money or experience, but it wouldn't make us happy."

    Some of CD Projekt Red's upcoming games include Gwent: The Witcher Card Game and Cyberpunk 2077.

    Assassin's Creed publisher Ubisoft is currently facing a potential hostile takeover bid from Vivendi, so it could be that CD Projekt Red is trying to prevent something similar happening to them.

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