Shares plummet as Ubisoft cancels long-awaited video game remake
Video game remake cancelled by major publisher
- Ubisoft's shares plummeted by 33 per cent on Thursday after the French video game publisher announced a significant reorganisation and the cancellation of six upcoming titles, including a Prince of Persia remake.
- The company plans to restructure into five distinct creative divisions, known as 'Creative Houses', which will oversee their respective game portfolios from brand development to sales and manage their own budgets.
- Ubisoft narrowed its net bookings forecast for 2026 to approximately €1.5 billion and now expects an operating loss of around €1 billion, attributing €650 million of this to game cancellations and delays.
- The publisher withdrew its previous financial guidance for the 2026/27 fiscal year, with analysts expressing concerns that a return to positive cash generation seems distant and the financial structure may weaken.
- To mitigate financial challenges, Ubisoft is pursuing an additional €200 million in cost savings over the next two years and is considering potential asset sales, following a delayed €100 million cost reduction programme.