Near the end of September, EA disclosed a $55 billion deal to take the third-party video game publisher private under a new ownership group including Saudi Arabia’s Public Investment Fund, Jared Kushner’s Affinity Partners, and the private equity firm Silver Lake. It’s also the largest leveraged buyout (LBO) of all time, and it will require EA to settle $20 billion in debt. According to several prominent analysts, the fastest way for EA to reach that number is by shedding studios and selling some of them off.
According to a report by Polygon, multiple analysts believe that BioWare is a prime candidate to be sold because of the studio’s struggles over the last decade. BioWare’s Dragon Age: The Veilguard fell far below EA’s expectations, and the studio was hit by numerous layoffs in the aftermath. A much smaller team at the studio is currently working on the next Mass Effect title, which may entice potential buyers.
EA is currently throwing its promotional muscle behind Battlefield 6, the first-person shooter that’s competing with Activision’s Call of Duty franchise. While that may mean DICE–the developer of the game’s multiplayer mode–is safe from being sold at the moment, analysts suggest that could change if Battlefield 6 under-performs.
Since The Sims 4 is one of EA’s top-earning games, the analysts believe Maxis is likely safe from being sold off. However, DFC Intelligence president David Cole believes that even Maxis could be sold if a premium offer was made by an outside buyer. He also predicted that there will be sizable layoffs at EA’s studios regardless of whether they are purchased by other companies.
“[Leveraged buyouts] are historically followed by cutbacks and the sell of non-essential assets in the short-term,” Cole told Polygon. “Long term, this can allow a company like EA to focus on more creative risky ventures, as they are not beholden to public shareholders. But short term, we expect them to focus more on core money generators and look to get top dollar for ‘secondary’ IP/products.”
It’s important to note that the deal isn’t finalized yet, and it may not be closed until EA’s fiscal 2027 year, which begins in April 2026. There’s a very long list of properties and IP owned by EA, and GameSpot has already broken down the deal and what may happen next.
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