Electronic Arts just confirmed a major shakeup that included the closure of BioWare and cancellation of its upcoming Mass Effect game. Closing the studio and cancelling the project was a horrible thing for the people who worked there and fans who enjoy BioWare games and were looking forward to the next Mass Effect . But taking that action was no surprise whatsoever from a business sense. Video game analyst Joost Van Dreunen told IGN that EA needed to make drastic cuts to service the $18 billion in debt that it has taken on due to the leveraged structure of its sale to Saudi Arabia's PIF, Silver Lake, and Affinity. Interest payments alone on that debt are about $1.8 billion annually, which exceeds how much money EA makes in annual EBITDA ($1.5 billion). Van Dreunen said BioWare getting shut down was "entirely predictable and precisely what a leveraged buyout looks like once the deal close
Cancelling Mass Effect And Closing BioWare Was An Obvious Thing For EA To Do, Experts Say
Original reporting
GameSpot: read the full reportFollow this story
Earlier reports and follow-ups on the same developing story.
- BioWare Shutting Down, Next Mass Effect Canceled
- EA Shuts Down Dragon Age, Mass Effect Studio BioWare
- BioWare is closing down and Mass Effect 5 is cancelled, months after Saudi Arabia's $55bn EA buyout
- The Internet Reacts to the Cancellation of Mass Effect 5 and the Death of BioWare
- BioWare’s Closure Reportedly Won’t Affect The Mass Effect TV Show
- Mass Effect 5 trailer leaks following BioWare shutdown
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