Report: PlayStation will takeover Bungie if studio misses financial targets

Report: PlayStation will takeover Bungie if studio misses financial targets

PlayStation maker Sony is set to take full control of Destiny maker Bungie if the developer misses its financial targets.

IGN reports that as it stands, the studio is owned by Sony but is an independent subsidiary. The developer's board is evenly split between PlayStation execs and Bungie management with CEO Pete Parsons having a tiebreaker vote.

If Bungie misses its financial goals, PlayStation will dissolve the board and take control. This is apparently part of the reason why the studio opted to lay off staff in October of this year. 100 people were out of a job at Bungie's behest, rather than Sony's, in an attempt to level the ship.

These layoffs, along with other cost cutting, has led to morale at the studio hitting rock bottom. There is a hiring freeze in place and holiday bonuses being axed while performance bonuses have been reduced.

Staff say that there is definite pressure for upcoming Destiny 2 expansion, The Final Shape, to hit the numbers, not least because chief people officer Holly Barbacovi has reportedly said that layoffs were something the company could do again.

“We know we need Final Shape to do well,” one source said.

“And the feeling at the studio is that if it doesn’t we’re definitely looking at more layoffs.”

Sony acquired Bungie for $3.7 billion in 2022

PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.