The exact opposite happened to EA. It was publicly traded before, then bought by Trump’s son-in-law and Saudi Arabia, but also they took a massive loan to buy it and most of that loan was added to EA’s debt, not in any of their own names. So now EA is in a metric fucktonne of debt (went from 2 billion to 20 billion with this deal).
I suspect they’ll just let it go bankrupt once they’ve managed to loot the IP (FIFA in particular) and transfer it to some other company. Then JP Morgan Chase is left holding the bag and Jamie Dimon will have to decide if he wants to sue Saudi Arabia or not.
Leveraged buyouts are the devil. If going public basically guarantees enshittification, a leveraged buyout pretty much guarantees bankruptcy with or without enshittification and cuts.
Seems like every company that is listed as a stock is just a pump and dump for CEO billionaires nowadays
The exact opposite happened to EA. It was publicly traded before, then bought by Trump’s son-in-law and Saudi Arabia, but also they took a massive loan to buy it and most of that loan was added to EA’s debt, not in any of their own names. So now EA is in a metric fucktonne of debt (went from 2 billion to 20 billion with this deal).
I suspect they’ll just let it go bankrupt once they’ve managed to loot the IP (FIFA in particular) and transfer it to some other company. Then JP Morgan Chase is left holding the bag and Jamie Dimon will have to decide if he wants to sue Saudi Arabia or not.
Leveraged buyouts are the devil. If going public basically guarantees enshittification, a leveraged buyout pretty much guarantees bankruptcy with or without enshittification and cuts.