CD Projekt Red Responds to Hostile Takeover Rumors

on November 10, 2016 5:11 PM

Earlier this week, developer CD Projekt Red — the team behind the Witcher series —  announced a November 29th meeting during which shareholders will vote on measures that would help defend itself from a potential hostile takeover.

As the internet does: it ran away with this. Rumors began to appear everywhere of CD Projekt Red being in danger of a hostile takeover, with some even suggesting EA were behind the move.

Today, CD Projekt Red put an end to those silly rumors. According to a spokesperson of the company, the measure being taken is not in response to any recent event, but rather is simply a meeting taking place to vote on preventative measures, should the company ever actually face a hostile takeover.

The spokesperson said the following:

“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.”

As you may know, this is not the first time speculation about a hostile takeover of CD Projekt Red has emerged. In September 2015, it was reported that the studio was in talks with EA about a buyout, something CD Projekt Red later denied. Earlier that year in June, when speaking to Develop, the developer said it is approached by companies about an acquisition on a “regular basis.”

Despite all of this speculation flying around it, CD Projekt Red has always been adamant that staying independent is paramount to it. Something I personally hope never, ever changes.

 

 /  Assignments Editor & News Editor
Tyler Fischer is the Assignments Editor and News Editor at DualShockers. He specializes in writing breaking news, managing assignments, and organization. Born and raised in New York, Tyler studies journalism and public relations at SUNY New Paltz. In his free time he enjoys playing and watching soccer, getting lost in game lore, and writing comedy scripts.