((Automatic translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
Walt Disney DIS.N’s investment in Epic Games values the video game company at $22.5 billion, a significant drop from the company’s value two years ago, The Information reported on Thursday, citing a person familiar with the matter.
Disney’s $1.5 billion investment, announced during a post-earnings press conference on Wednesday, will give the entertainment giant a 9% stake in Epic Games, according to the report.
The report adds that Fidelity, T. Mutual funds like Rowe Price and BlackRock recently marked down their stake in Epic Games to roughly the price Disney paid.
Privately held Epic Games, creator of the popular title “Fortnite,” was valued at $31.5 billion when it raised funds in April 2022 from Sony Group Corp 6758.T and the family holding company behind Lego Group.
The deal between Disney and Epic will allow the two companies to create a “massive Disney universe” where consumers can interact with characters and stories from Disney, Pixar, Marvel, Star Wars and Avatar.
“This is Disney’s largest entry into gaming and offers significant opportunities for growth and expansion,” said Chief Executive Officer Bob Iger.
Disney and Epic Games did not immediately respond to Reuters requests for comment.
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