Video Game Brands and Their Corporate Parents

Electronic Arts sold for $55 billion to a consortium led by Saudi Arabia's Public Investment Fund, Silver Lake, and Jared Kushner's Affinity Partners. Microsoft bought Activision Blizzard for $75.4 billion. Tencent owns Riot Games and Supercell outright and holds a 28 percent stake in Epic Games. Sony bought Bungie for $3.6 billion. The video game industry has consolidated at a pace that rivals any other media sector.

The brands you play are owned by a small number of corporate parents. Call of Duty, World of Warcraft, and Candy Crush are owned by Microsoft. League of Legends and Valorant are owned by Tencent. Fortnite is owned by Epic Games, in which Tencent holds a 28 percent stake. Grand Theft Auto is owned by Take-Two Interactive. The Sims, Battlefield, and EA FC are owned by Electronic Arts, now a private company.

We tracked video game brands and their corporate parents. The ownership map reveals how a $200 billion industry is controlled by a handful of conglomerates. For more on how brand ownership shapes consumer choice, see our psychology of brand ownership.

The $55 Billion EA Acquisition

Electronic Arts announced on August 4, 2026, that its acquisition by PIF, Silver Lake, and Affinity Partners had successfully closed. The Consortium's agreement to acquire EA was previously announced on September 29, 2025, and was approved by EA stockholders at the special meeting of stockholders held on December 22, 2025.

With the transaction complete, EA stockholders received $210 in cash for each share of EA common stock they owned as of the closing. EA's common stock has ceased trading and is delisted from NASDAQ.

The deal values the maker of Battlefield and Madden NFL at $55 billion, which if completed would be the largest leveraged buyout in history. Saudi Arabia's PIF, Kushner's Affinity Partners, and private equity firm Silver Lake came together to buy the popular videogame maker with a combination of $36 billion in cash, equity already held by PIF, and $20 billion in debt financed by JPMorgan.

PIF is one of the world's most impactful investors, enabling the creation of key sectors and opportunities that help shape the global economy. The gaming and esports industry is one of its priority sectors, contributing to the diversification of the local economy. Saudi Arabia has also hosted major esports tournaments, including the Esports World Cup in 2025.

EA's portfolio includes The Sims, Battlefield, Madden NFL, Apex Legends, and EA FC. The company is now private, controlled by a Saudi-led consortium. For more on how sovereign wealth funds acquire entertainment brands, see our why conglomerates buy independent brands.

The $75.4 Billion Microsoft-Activision Blizzard Deal

Microsoft completed its acquisition of Activision Blizzard on October 13, 2023, for a total purchase price of $75.4 billion, consisting primarily of cash. The acquisition is the largest video game acquisition by transaction value in history.

Microsoft brought Activision Blizzard under its Microsoft Gaming business unit as a sibling division to Xbox Game Studios and ZeniMax Media. With it, Microsoft gained ownership of several franchises under Activision, Blizzard Entertainment, and King, including Call of Duty, Crash Bandicoot, Spyro, Warcraft, StarCraft, Diablo, Overwatch, and Candy Crush.

The deal was originally unveiled in January 2022 at $68.7 billion, or approximately $95 per share. The deal cleared its final big hurdle, an approval from Britain's Competition and Markets Authority, after Microsoft agreed to sell streaming rights for Activision's games to allay competition concerns.

Activision Blizzard was one of the largest video game publishers in the world, with annual revenues of about $8.8 billion in 2021. The acquisition gave Microsoft the third-largest gaming company position in the world, behind Chinese company Tencent and the Japanese conglomerate Sony.

Microsoft's gaming portfolio now includes Xbox, Minecraft, Call of Duty, Candy Crush, World of Warcraft, Diablo, Overwatch, StarCraft, Crash Bandicoot, and Spyro. One corporation owns many of the most played game franchises in the world.

Tencent: The World's Largest Game Company

Tencent is the largest game company in the world, with RMB242 billion, approximately $33 billion, in games segment revenue in 2025. International markets contributed 32 percent of games segment revenue.

Tencent's gaming portfolio is built through both acquisitions and strategic stakes. The company fully owns Riot Games and Supercell. It holds a 28 percent stake in Epic Games. These three companies' gaming products reach more than one billion players worldwide.

Tencent began investing in Riot Games in 2008 and completed a full acquisition in 2011, making it a wholly owned subsidiary. Riot Games is best known for developing League of Legends and Valorant. Tencent acquired a 28 percent stake in Epic Games around 2012, through multiple rounds of investment. Epic Games is the developer of Fortnite and the widely used Unreal Engine.

Tencent, as part of a consortium led by SoftBank, acquired a significant stake in Supercell in 2016, and later increased its holdings to become the controlling shareholder. Supercell is famous for Clash of Clans and Clash Royale.

The Trump administration has been engaged in intense discussions over whether to allow Tencent to continue holding stakes in US and Finnish gaming companies, according to Reuters. The debate centers on Tencent's investments in Epic Games, Riot Games, and Supercell. The investments are viewed as potentially involving sensitive data of a large number of US users.

Tencent's domestic games revenues were RMB164.2 billion in 2025, up 18 percent year-on-year. International games revenues were RMB77.4 billion, up 33 percent year-on-year. Tencent's evergreen games portfolio includes Honour of Kings, Peacekeeper Elite, Delta Force, VALORANT, and PUBG Mobile.

Sony's $3.6 Billion Bungie Acquisition

Sony Interactive Entertainment acquired Bungie Inc, the original creator of the Halo videogame and developer of Destiny, in a deal valued at $3.6 billion. The acquisition was announced on January 31, 2022.

Bungie joined Sony's PlayStation family as the Japanese conglomerate strengthened its network of in-house gaming studios behind hits such as Spider-Man to take on cash-rich rivals. Jim Ryan, head of the Sony Corp unit responsible for PlayStation, said: "This is an important step in our strategy to expand the reach of PlayStation to a much wider audience."

Bungie operates as an independent unit of Sony Interactive Entertainment, run by its board chaired by CEO Pete Parsons. The acquisition gave Sony one of the most popular first-person shooter games to compete with the massive Call of Duty series, which Sony's main rival now owns through Activision.

The Bungie acquisition was the third significant video-game acquisition in January 2022, following Microsoft's purchase of Activision Blizzard and Take-Two Interactive's acquisition of Zynga. The wave of consolidation in the gaming industry was underway.

Sony's gaming portfolio includes PlayStation, Bungie, Naughty Dog, Insomniac Games, Santa Monica Studio, and Sucker Punch Productions. The company competes directly with Microsoft's Xbox division and Tencent's global gaming empire.

Saudi Arabia's Gaming Empire

Saudi Arabia's Public Investment Fund is transferring roughly $12 billion worth of gaming company shares, including firms such as Nintendo and Bandai Namco Holdings, to its subsidiary Savvy Games Group.

Savvy's status as a powerhouse in the industry will grow as the company still possesses billions of dollars earmarked for future investment in gaming businesses. Once the transfers are complete, Savvy will own about 10 percent of firms such as Koei Tecmo Holdings, NCSoft Corp., Nexon Co., and Square Enix Holdings Co.

The PIF acquired a 5 percent stake in Nintendo in 2022, worth about $2.98 billion. The purchase was described as potentially "the start for Japanese gaming companies to be integrated into a global industry reshuffle."

Saudi Arabia's gaming strategy now includes the $55 billion EA acquisition, significant stakes in Nintendo, Bandai Namco, Square Enix, Nexon, NCSoft, and Koei Tecmo, and the Esports World Cup. The kingdom is building a gaming empire that spans publishing, development, and esports.

PIF's head of international investments Turqi Alnowaiser said: "Entertainment and sports are key areas of strategic focus" for the fund. The EA acquisition is the largest single move in this strategy, but it is part of a broader pattern of Saudi investment in the gaming industry.

Source: EA, Microsoft, Sony, Tencent press releases and SEC filings. All brand ownership data verified through WhoBrands.com research methodology.

The Consolidation Wave

The video game industry has experienced a consolidation wave that rivals any other media sector. In the span of four years, from 2022 to 2026, the industry saw over $134 billion in acquisition value.

Microsoft acquired Activision Blizzard for $75.4 billion in October 2023. Sony acquired Bungie for $3.6 billion in January 2022. Take-Two Interactive acquired Zynga for $12.7 billion in January 2022. The PIF, Silver Lake, and Affinity Partners acquired EA for $55 billion in August 2026.

The consolidation wave is driven by three factors. Platform competition, where Microsoft, Sony, and Tencent compete for platform dominance. Content acquisition, where acquirers buy game franchises to populate their platforms. Geographic expansion, where Saudi Arabia's PIF invests in gaming as part of its economic diversification strategy.

The result is an industry where a small number of corporate parents control the most played game franchises in the world. Microsoft owns Call of Duty, Candy Crush, and World of Warcraft. Tencent owns League of Legends, Valorant, and Clash of Clans. The PIF-led consortium owns The Sims, Battlefield, and Madden NFL. Sony owns Destiny. Take-Two owns Grand Theft Auto.

For more on how consolidation affects consumer choice, see our why people hate big companies but love their brands.

The Crossover with Film and Streaming

Video game brands increasingly cross over into film and streaming. The Spider-Man: Brand New Day campaign extended into Fortnite and PUBG Mobile. Fortnite brought Spider-Man back with an outfit and in-game moments, including a never-before-seen clip introduced by Tom Holland.

The crossover works because gaming integrations are not add-ons. They are parallel premieres. Letting fans watch clips in-game reframes marketing as access. The game becomes a distribution channel for the film, and the film becomes a marketing channel for the game.

The crossover also extends to brand ownership. Disney holds Spider-Man's merchandise and licensing rights. Epic Games holds Fortnite. Tencent holds a 28 percent stake in Epic Games. The brand ownership chain connects film, gaming, and merchandise through a web of corporate parents.

For more on how brands appear in films, see our product placement brands behind your favourite films.

What This Means for Brand Ownership

The video game industry has consolidated at a pace that rivals any other media sector. The brands you play are owned by a small number of corporate parents. Microsoft, Tencent, Sony, the PIF-led consortium, and Take-Two Interactive control many of the most played game franchises in the world.

The consolidation wave is driven by platform competition, content acquisition, and geographic expansion. Saudi Arabia's PIF is building a gaming empire that spans publishing, development, and esports. Microsoft is building a gaming portfolio that spans console, PC, and cloud. Tencent is building a global gaming empire that spans mobile, PC, and console.

Use WhoBrands.com to trace the ownership behind every video game brand. The game you play may now be owned by a multinational technology company, a sovereign wealth fund, or a private equity firm. For more on how to research brand ownership, see our how to research a parent company before buying their products.

FAQ

Who owns Electronic Arts now? Electronic Arts is owned by a consortium led by Saudi Arabia's Public Investment Fund, Silver Lake, and Affinity Partners, which is run by Jared Kushner. The acquisition closed on August 4, 2026, for $55 billion, the largest leveraged buyout in history. EA stockholders received $210 in cash for each share. EA's common stock has ceased trading and is delisted from NASDAQ. EA's portfolio includes The Sims, Battlefield, Madden NFL, Apex Legends, and EA FC.

Who owns Call of Duty now? Call of Duty is owned by Microsoft. Microsoft completed its acquisition of Activision Blizzard on October 13, 2023, for a total purchase price of $75.4 billion. Activision Blizzard was brought under Microsoft's Gaming business unit as a sibling division to Xbox Game Studios and ZeniMax Media. The acquisition is the largest video game acquisition by transaction value in history.

Who owns Fortnite now? Fortnite is owned by Epic Games. Tencent holds a 28 percent stake in Epic Games, acquired around 2012 through multiple rounds of investment. Epic Games remains an independent company, with Tencent as a significant minority shareholder. The Trump administration has been reviewing whether Tencent can retain its stakes in US gaming companies including Epic Games.

Who owns League of Legends now? League of Legends is owned by Tencent. Tencent began investing in Riot Games in 2008 and completed a full acquisition in 2011, making Riot Games a wholly owned subsidiary. Riot Games is the developer of League of Legends and Valorant. Tencent is the largest game company in the world, with approximately $33 billion in games segment revenue in 2025.

Explore Related Brands

• Fortnite -- Epic Games brand, Tencent holds 28 percent stake
• Call of Duty -- Microsoft brand, acquired through $75.4B Activision Blizzard deal
• Minecraft -- Microsoft brand, part of Microsoft Gaming portfolio
• Xbox -- Microsoft gaming platform brand
• PlayStation -- Sony gaming platform brand
• Candy Crush -- Microsoft brand, acquired through Activision Blizzard King deal

Browse all technology brands

Also read: Product Placement: The Brands Behind Your Favourite Films -- how video game brands like Fortnite and PUBG Mobile cross over into film marketing campaigns.

Sources

1. EA: EA Announces Completion of Acquisition by PIF, Silver Lake, and Affinity Partners -- https://www.ea.com/news/ea-announces-completion-of-acquisition 2. Reuters: Electronic Arts to go private in record-setting $55 billion LBO -- https://www.reuters.com/business/media-telecom/electronic-arts-go-private-55-billion-deal-with-pif-silver-lake-2025-09-29/ 3. AP News: Video game giant Electronic Arts closes $55 billion go-private sale -- https://apnews.com/article/electronic-arts-sims-battlefield-silver-lake-e50d653ac4616d063296e2021d826a3c 4. SEC Filing: Microsoft 8-K Completion of Activision Blizzard Acquisition -- https://www.sec.gov/Archives/edgar/data/789019/000119312523255762/d537928d8k.htm 5. Wikipedia: Acquisition of Activision Blizzard by Microsoft -- https://en.wikipedia.org/wiki/Acquisition_of_Activision_Blizzard_by_Microsoft 6. Reuters: Sony to buy Destiny videogame developer Bungie in $3.6 bln deal -- https://www.reuters.com/technology/sony-buy-videogame-developer-bungie-36-billion-deal-2022-01-31/ 7. TechNode: Trump administration reportedly reviews whether Tencent can retain stakes in US gaming companies -- https://technode.com/2026/03/04/trump-administration-reportedly-reviews-whether-tencent-can-retain-stakes-in-us-gaming-companies/ 8. Tencent: 2025 Annual and Fourth Quarter Results -- https://static.www.tencent.com/uploads/2026/03/18/c5a080d9b669f63b4e55182acee96bc2.pdf 9. Bloomberg: Saudi Arabia Moves Billions In Video-Game Stock to Subsidiary Savvy -- https://www.bloomberg.com/news/articles/2026-01-14/saudi-arabia-moves-billions-in-video-game-stock-to-subsidiary

All brand ownership data verified through WhoBrands.com research methodology. Last updated: August 2026.

About WhoBrands

WhoBrands.com provides accurate, comprehensive brand ownership information through extensive research of SEC filings, corporate press releases, and official company documents. Our database covers thousands of brands across dozens of industries. Learn about our methodology.