Sony Gaming Unit Adds Uber Antitrust Lawyer Amid Expansion Plans

[peter42O]

Publisher wise, my money would be on Square Enix but with that said, I don't see Sony acquiring any publisher not even because of the purchase cost but because of the cost, post close. I don't see Sony adding thousands of employees and development costs to their company.

I can see Sony acquiring a few development studios instead. Low cost, low risk, high reward. With Sony acquiring another eSports company a few days ago, I can see them going after NetherRealm from Warner/Discovery as that would include the MK IP.

One other thing is that Sony could be prepping for an acquisition that has nothing to do with gaming. Just have to wait and see.

 

[Dabaus]

-In the 360 days released a couple exclusives mostly because PS3 still didn't exist when they were released
-REVII VR, RE Village VR, RE4R VR and SF6 (for the PS4 gen) are exclusives. MH World is console exclusive for Japan
-Capcom has a close relation/deals with all platforms but an acquisition could limit future ones to a single console


-Too expensive for Sony
-Doesn't seem to want to sell, instead they are acquiring


-All company have delays and cancellations for time to time. The difference is that Ubisoft mentions them even for unannunced games or for games without public release dats
-Their yearly revenue has been growing since forever
-The amount of assets and IPs (3 of them made over $300M last year, a weak one for them due to covid) they have could make it too expensive for Sony
-They said they don't want or need to sell
-This year is going a weak one for them due to (mostly covid related) covid delays and too long development for super big ass AAAA games but still going to release over a dozen games this year
-Toxic work culture is bullshit, there are only a few supposed/rumored cases for over 20K workers (+many thousands of workers who had been there previously), over 40 studios and almost 40 years of history
-Amount of workforce has nothing to do with antitrust
-Every year there are tons of staff who join and leave big companies, The Haven ones were a tiny portion of them and many of them left Ubi many years ago.


-Too expensive for Sony
-Top 1 company for sports and key actor for racing (they recently bought Codemasters and Need for Speed is one of their mismanaged IPs but one of the best selling IPs in gaming history)
-Licensing agreements don't change if other company buys them and don't cause any legal issue, same goes with having studios in many countries


-Very likely too expensive for Sony
-UE owned by a console maker wouldn't change anything if continues being multiplatform as it is, or as it also is the Sony multiplatform engines that they made and 3rd party companies use. As an example, all FromSoft souls games (including multiplats) use a Sony engine


-They don't have any IP
-Only have two hit games and both were released with many issues
-I think Valve would the only company that could potentially rise antitrust concens because in addition to be market leader in consoles they would own the -by far- top pc games store and don't know if now in VR gaming (not in VR hardware) would be also market leader too. But like in console there is no monopoly in PC because there are many stores and revenue is split between a lot of companies.


Regarding Bandai Namco:
-It's the biggest Japanese 3rd party gaming company in revenue and market cap
-Their revenue and net income is in a growing trend since decades ago
-It's the top 6 biggest mobile gaming publisher in the world by revenue
-Market leader in soulsborne, Japanese fighting games or anime games genres
-Far from Square Enix in JRPG but may be top 2 or top 3 player in this genre in sales
-Bandai Namco and Sony plus its CEO are the owners of Dimps, developers of Street Fighter IV, V and 6. So buying Namco pretty likely would also mean to buy Dimps
-Sony got a recent deal to make toys and statues of their games, Bandai Namco until recently was the top 1 toys company in the world (in very recent years Lego is the top 1)
-They have many classic arcade IPs that would be a great fit for VR (Ace Combat, Ridge Racer, Time Crisis...)
-They have many IPs that would be a good fit for movies, tv series or anime
-They have the exclusive rights to use many top anime IPs in videogames
-Like most big Japanese 3rd party publishers they cover business areas (some of them outside gaming) out of Sony's areas of interest
-Pretty likely too expensive for Sony (it would mean pretty likely >25B)
-Like almost all the other companies listed here, may not want or may not need to sell

Who do you think Sony is likely targeting ?

 

[Yurinka]

Who do you think Sony is likely targeting ?

Sony wants to grow pretty much everywhere so I think there are a ton of candidates that may fit. Excluding a few top ones who could be too expensive for their budget (even if they could make an exception for a handful cases using extra cash or debt) there are many potential targets that basically will depend on if they want to sell or not, or if it's easy for them to handle business that don't interest Sony.

These are some areas where Sony seems to want to grow:

• Absorb teams of former coworkers/parters into existing internal 1st party studios to grow them (they did it recently getting Fabrik to help Firesprite, Valkyrie to help Santa Monica or Legion Labs -engine and tools company with former Ubisoft/Motive/Stadia staff- for Haven). Here we could Lucid merged into Firesprite or a lot of their staff hired by them, or to hire a ton of current or past key Ready at Dawn staff for some Sony AAA studio in California.
• Acquire AAA-ish single game development studios to develop PS exclusive games at PS Studios, mostly teams who previously made exclusives for them, mainly as 2nd party teams (Insomniac, Housemarque, Firesprite, Bluepoint...) or has key staff who previously worked in internal 1st party studios (Firesprite). Here we could see Arrowhead, Ember Labs, ARC System Works, Firewalk, Deviation, From Software, Netherrealm, Quantic Dream, Bokeh, BlueTwelve... here they'd value if this studio works in a genre/game type not covered by other internal teams. Extra points if they created multiple successful new IPs.
• Successful AAA-ish VR teams like Hello Games, Camouflaj, Impulse Gear, Polyarc, Warpfrog, First Contact Entertainment, specially if they previously worked by them in exclusives or can help them bring some big blockbuster Sony IP to VR
• Successful mobile game publishers, specially those who may help bring PS IPs to mobile or are key actors in mobile gaming or are already successful on bringing console IPs to mobile and even better if do it with non-predatory monetization. Main candidates: Square Enix, Bandai Namco, Netmarble, miHoyo, CyberAgent (parent company of CyGames), GungHo, Konami, NC Soft, Gameloft, Scopely... Extra points if they are big specially in Asia or PC in addition to in mobile, or bonus points if also are important in console.
• Top console publishers that aren't too expensive for Sony (this could be the case of Valve, Epic, EA, Take 2, Bandai Namco, Riot, Ubisoft or some top mobile publishers), that are market leaders or key players in top/key genres/game types not covered or mastered by already existing internal 1st party studios like RPG, fighting games, horror, fps, non-baseball sports, soulsborne, monster hunting, kid friendly games... and key points if they are specially big at creating new successful top IPs, if have a great catalog for PS Plus, if are big in PC or mobile, VR or eSports or if their IPs are a good fit for movies/tv shows/anime or if they master to make game adaptations of movies/anime/comics/tv shows IPs or if they are specially big in Asia (not only limited to console). Main possible targets: Bandai Namco (maybe too expensive), Square-Enix, Capcom, Ubisoft (may be too expensive and doesn't want to sell), spare Warner Bros studios, Epic (may be too expensive and doesn't want to sell), Valve (may be too expensive and doesn't want to sell)
• Support companies of any kind: gamedev outsourcing, porting, VR tech, streaming or server tech, game development/engines tech (like Unreal), eSports related stuff, things to improve the multiplayer experience (Discord) or even companies who can improve the PSN store, the PSN app or a potential PSN PC or mobile app

TLDR: Sony is interested in growing in a ton of different areas so there are many potential candidates but many of them may not want/need to sell, are too expesive or have many important business areas where Sony isn't interested on them. So it's difficult to know who exactly will buy Sony.

 

[Savant]

Too expensive for Sony

That's not even remotely true my friend. Don't blindly start repeating xbot FUD now. Refer to my first response to you/first post in this thred

 

[Savant]

If Sony ever buys a publisher like Take Two taking GTA away from Xbox is a much smaller sacrifice than taking something like CoD away from PlayStation since games sell much more units on PlayStation console due to market share and MS teaching people to not buy games. GTA timed exclusivity has already happened multiple times in the past and R* like to hold back the PC version of their games.

I think people overestimate how much Sony should care about losing CoD years from now (specially since they'll get Modern Warfare 2 and Warzone 2 anyway). They'll have plenty of time to prepare to fill that space with games from studios like Deviation, Guerrilla or even just partnering with EA to rehabilitate BF. Something like GTA is a lot hardware to replace because MS doesn't have the capability to compete with R* on any level when it comes to game development.

Fortnite would be just like Minecraft, no point in pulling a game like that from any platform.

xbots are scared that Sony can actually respond and are terrified of Sony's response. They are now trying to cope with any possible responses

The GTA IP is magnitudes LARGER than the Call of Duty IP. The last Call of Duty underperformed and the IP as a whole has been steadily declining. Mile Morales outsold the last Call of Duty game on PS5 during the holidays.

This is why microsoft's obsessive focus on IPs is going to come back and bite them in the corporate ass. IPs die, talents create the IPs and never die. Sony are the smart ones focusing on talent. The big IPs Sony would buy would only be bought FOR BARGAINING CHIPS

Rockstar alone has had multiple IPs sell way higher than the highest selling Call of Duty game. GTA along with the Pokeman IP are 2 of the greatest entertainment IPs.

I never said Sony would keep GTA or Fortnight exclusive.

READING IS FUNDAMENTAL

In fact I said the opposite. Go back and reread my post properly

Again here it is, read this clearly, I said that Sony would buy those IPs AS BARGAINING CHIPS to always keep microsoft in check

 

[Yurinka]

I just found Epic is valued at $31.5B:

Epic Games valued at about $32 bln in funding from Sony, Lego firm

Epic Games said on Monday it had raised $2 billion from Sony Group Corp and the family owned holding company behind the Lego Group, valuing the "Fortnite" creator at $31.5 billion.

www.reuters.com

That's not even remotely true my friend. Don't blindly start repeating xbot FUD now. Refer to my first response to you/first post in this thred

Bullshit, what I say it's true. Show me any factual data or source that proves me wrong.

Sony had a budget not only to acquire, but also to invest and to repurchase Sony stocks not only of SIE, but the whole Sony of under $7B that has been increased to $30B. But again, not for SIE but to the whole Sony and I'm not sure but it may be for multiple years (mentioned medium term, which for a corporation may be around one or three years). When originally they had $18B years ago, right before Bungie and Lasengle they had spent ~8B of it and around 40% of that was for gaming, then with the remaining ~10B they bought Bungie ($3.7B), Haven, Lasengle and who knows what more. But as of March/April ended having under $7B was available after that to be spent until March 2024. As I said, in May after announcing their report of the fiscal year that ended this March they rised the budget for the mid term (meaning to spend on likely a handful years) to $30B.

Take 2 has a market cap of 21.12B, which means to buy that you'd have top pay on top of that pretty likely around 50% premium or even (was 64% for Zynga or 45% for Activision Blizzard) because it's common in the current context of consolidation and there are assets or stocks that aren't in the market, so to buy Take 2 should cost easily way above $30B. Sony has some billions more in cash or they could get debt but if they'd plan to spend $30B only in gaming they'd have rised their acquisitions+investments+stock repurchase budget way more before making the acquisition.

This budget means Sony will spend under 30B in acquisitions, investmnets and stock repurchase until the end of the current fiscal year or a year or two after it. If needed, they'll rise it again after announcing the results of the current fiscal year in may 2023 (or for the next FY in May 2024) the soonest. It would be super rare to spend way beyond what in this FY when they said they had budgeted that, without mentioning before to their investors that they made a revision of the budget to increase it.

So in the current FY they'll spend under 30B and only a portion of it will be for acquisitions and only a portion of it will be for gaming. This FY I'd expect Sony to spend, being generous, 10-15B maximum in SIE acquisitions. And wouldn't be in one, it would be likely in multiple ones. Pretty likely even Haven, Lasengle or maybe even part of the Bungie deal are included there. So I think over $30B for Take 2 that it would cost it would be too much. Same goes with others like Epic, Netease, Sea (Garena), EA, Bandai Namco, Valve or Roblox which would be more expensive to be bougth this year.

If we add a 50% premium -very likely would be higher- to their current market cap for these publicly listed companies we have these acquisition estimated prices:

• Tencent $604.11B
• Netease $94.8B
• Nintendo $77.88B
• Sea (Garena) $63.2B
• EA $54.57B
• Roblox $34.8B
• Take 2 $31.7B
• Nexon $29B
• Bandai Namco $24.8B
• Unity $16.25B
• Embracer $13.14B
• Konami $11.28B
• Capcom $8.9B
• NC Soft $8.6B
• Koei Tecmo $8.46B
• Square Enix $8.25B
• Ubisoft $7.8B
• CyberAgent $7.53B
• Netmarble $6.74B
• Perfect World Entertainment (Chinese film + PC and mobile games) $6.12B
• Sega Sammy $5.52B
• CD Project $3B (its market cap is $1.99B, was $7.42B in 2020 due to Cyberpunk hype before release. Its current price is still way overvalued)
• Paradox Interactive $2.82B
• DeNA $2.5B
• Mixi (mostly mobile games for Asia) $1.82B
• GungHo $1.8B
• Gree (Japanese mobile games for Asia + anime) $1.58B
• Huya (China's Stadia) $1.2B
• Team 17 $1.14B
• Frontier Developments (devs of Elite series) $1B
• Remedy $0.51B
• People Can Fly $0.48B
• Marvelous $0.45B
• Devolver Digital $0.41B
• Focus Home Interactive $0.39B
• 11 bit studios $0.36B
• Starbreeze $0.06B
• Atari $0.06B

I think it would be realistic to expect Sony spending maximum ~$10B in SIE acquisitions this FY, even if they could spend more. But should be in a case where the major stockholders of these companies want or need to sell, where they are a good fit for Sony and Sony sees them a good fit for them. And that is not a major company for that country (if isn't a Japanese one) because its government could stop the acquisition.

Regarding non publicly listed companies people can make estimation of their value, but their current stockholders put the price they consider when selling. So companies like Valve, Epic, Arc System Works etc would decide their acquisition price if decide to sell.

 

[nominedomine]

Do you have trouble with reading compression? Or are you an xbox fanboy who's scared that Sony can actually respond and is terrified of Sony's response and now trying to cope with any possible responses?

NO, the GTA IP is magnitudes LARGER than the Call of Duty IP. The last Call of Duty underperformed and the IP as a whole has been steadily declining. Mile Morales outsold the last Call of Duty game on PS5 during the holidays.

This is why microsoft's obsessive focus on IPs is going to come back and bite them in the corporate ass. IPs die, talents create the IPs and never die. Sony are the smart ones focusing on talent. The big IPs Sony would buy would only be bought FOR BARGAINING CHIPS

Rockstar alone has had multiple IPs sell way higher than the highest selling Call of Dury game. GTA along with the Pokeman IP are 2 of the greatest entertainment IPs.

And the reason why I asked if you have trouble with reading comprehension is because I never said Sony would keep GTA or Fortnight exclusive. That's why READING IS FUNDAMENTAL. In fact I said the opposite, so if you go back and reread my post properly you're probably going to feel ashamed for your misinterpretarion. Again here it is, read this clearly, I said that Sony would buy those IPs AS BARGAINING CHIPS to always keep microsoft in check

I must be an Xbox fanboy... lmao.

What is your problem anyway? Why did you get so upset over my opinion? Why are you so emotional over imaginary acquisitions?

Your nonsense isn't worth a proper answer and the irony is that you are pointing to my alleged reading comprehension while failing miserably to properly understand anything that I wrote.

 

[EDMIX]

Square enix or take 2 would be my guess.

Likely more towards Take Two as it being an American company, the whole anti-trust thing would fit with such a massive purchase.

 

[IntentionalPun]

People really should keep in mind that their are things like the DMA in Europe and elsewhere creeping towards regulation of online stores and whatnot. Also just regulation concerning gaming in general w/ MTX/DLC. I think currently game consoles won't fit the bill for the DMA but that stuff doesn't happen in a bubble; the industry likely lobbied to make sure the rules didn't effect them.

A public policy expert goes beyond just getting mergers and acquisitions through. The guy probably spent most of his time at Uber dealing with trying to influence cities/states/countries to have Uber friendly laws.

(not saying Sony isn't also planning a lot of gaming acquisitions but they still may never buy anyone as big as a decent sized publisher)

 

[EDMIX]

People really should keep in mind that their are things like the DMA in Europe and elsewhere creeping towards regulation of online stores and whatnot. Also just regulation concerning gaming in general w/ MTX/DLC. I think currently game consoles won't fit the bill for the DMA but that stuff doesn't happen in a bubble; the industry likely lobbied to make sure the rules didn't effect them.

A public policy expert goes beyond just getting mergers and acquisitions through. The guy probably spent most of his time at Uber dealing with trying to influence cities/states/countries to have Uber friendly laws.

(not saying Sony isn't also planning a lot of gaming acquisitions but they still may never buy anyone as big as a decent sized publisher)

True. With how slow the law takes to catch up to technology, its likely Sony wants to watch legally how any of that could effect them in the future.

 

[Bryank75]

That's not accurate at all

Look how Sony just upped their aquistions budget to 30.7billion US dollars



Sony has way more cash on hand, and they have access to a whole lot more/can raise much more, have tons of significant assets etc.

Your original assessment that Sony and Microsoft are closer than people think was spot on

(not necessarily in pure straight up cash for cash, but Sony is 1 of the largest conglomerates in the world)

It's not about market cap, or even pure cash on hand, and very rarely does any of that even tell a fraction of the story



How many people even know that micorsoft had loans from Goldmans Sachs to buy Activision (or at least is attempting to buy pending investigations)

And check this out

The author of these tweets is actually a member here... @Faulkie87 maybe you could expand on your thoughts here and inform the people in the thread what capability Sony has in terms of acquisitions.... <3

 

[Bernd Lauert]

Also there are some other things worth mentioning which haven't been brought up

1. Sony owning the Fortnight IP would be just as big as the Call of Duty IP, if not far more significant. The lastest Call of Duty has been under performing. All indications point to Call of Duty declining as an IP. Today's children are all playing Fortnight. Fortnight's strength is in being an acceptable and kid friendly battle royale available on all platforms...so Sony would keep it multiplatform (and rake in massive amounts of revenue), but the real strength which would come from Sony owning the Fortnight IP would be in Sony gaining an incredible bargaining chip against microsoft

So if microsoft buys this publisher or that publisher, or makes that series or that series exclusive, Sony can always respond,

"Ok, Fortnight will now be exclusive to Playstation"

And that would get microsoft to change their tune and position very quickly


2. A lot of people still don't know what a monopoly is

In the resetera version of this thread, those microsoft shill dweebs are trying to say that Sony would be "more scrutinized" because of their market position...and thats just xbot bullshit from xbots desperately wanting Sony to be as scrutinized as their microsoft rightfully is "wha wha wha"

BEING FIRST PLACE OR SELLING THE MOST DOES NOT MAKE A MONOPOLY. BEING MARKET LEADER IS NOT A MONOPOLY

A monopoly is when a company uses underhanded tactics to gain "UNFAIR ADVANTAGES" and or uses unfair advantages to HARM COMPETITORS

IT HAS NOTHING TO DO WITH BEING 1ST PLACE

Sony will always be able to say, "microsoft are the trillion dollar valued company"

Microsoft are the ones building the cloud uncompetitively. Microsoft are the ones with a rentalpass service and trying to force it on every platform (a monoply). Microsoft are the ones using their "war chest" NOT from gaming, TO USE IN GAMING TO UNDERCUT SONY. One can argue Microsoft has already monopolized gaming IPs

Sony can buy Take 2, and I promise Sony will NOT recieve %5 of the same scrutiny that microsoft is rightfully receiving for Activision

How dishonest are these insane xbot shills (twitter and resetera) when they try to downplay just how much of an anticompetitive monopoly move buying out Activison was. YOURE TALKING ABOUT A 70BILLION PURCASE FOR THE LARGEST PUBLISHER IN GAMING TO TAKE AWAY CALL OF DUTY FROM PLAYSTATION ("THE HOME OF PLAYSTATION") AND THATS WHY MICROSOFT HAD TO CONCEED ON CALL OF DUTY TO THE FTC AND MAKE CALL OF DUTY MULTIPLATFORM. OTHERWISE THE FTC WOULDVE BLOCKED THE DEAL

3. For Sony to be hiring 1 of the best antitrust lawyers in history it means it is AQUISITIONS OF MULTIPLE PUBLISHERS, with possibly Epic (epic store possibly raising concerns). And we already know that's the case

- Jim Ryan said they arent close to being done and to expect large aquistionS (PLURAL)

- Sony CFO said they have no limit and will spend what they need to-coinciding with Sony upping their aquistions budget to 30.7billion US dollars

Tanking Activisions stock, while pretending to condemn them, as they were bastardly buying out Activision from Sony in an attempt to take Call of Duty off Playstation (FTC made microsoft conceed on that) was 1 of the dirtiest most satanic corporate moves ever, and it made Sony realise micorsoft's dangerous volatile corporate psychopathy, where Sony finally woke up.

Microsoft kept poking the sleeping bear and now she's awake. The mother bear fiercely protects her cub until the antagonizer is eliminated. Paystation is mommy bear Sony's cub, and she is now furious and won't stop until her cubs antagonizer is eliminated

Heres a little history lesson. The American army was much larger then the Vietnam army, but the Vietnamese through fierce determination, sheer will power, and smarter tactics destroyed the American army. microsoft epitomizes America. Sony are war masters built from the art of war

microsoft is evil personified corporatism, so it will be a great day when good prevails over that corporate evil and xbox is no more a thing. Think about how microsoft with xbox brought nothing but cancer to gaming; paid online, DLC, DRM, publisher buy outs, rentalpass schemes, launching consoles with no games, no games in an entire calender year, all the FUD, flooding forums with astroturfers and shills, all the paid influencers, the entire history of xbox has literally been cancer from start to end. Gaming wouldve been much better off without xbox. PS2 and dreamcast were already doing free online well before xbox. And microsoft created and cultivated the most toxic fanbase ever which ruined gaming that needs to be done away with

This post is exactly what I'd expect from someone who uses the term "xbot" unironically. Peak entertainment for sure. Also enough industry grade copium to last for a decade.

 

[LightBolt]

Fighting over who Sony will or won't buy won't do anything good guys, let's just wait and see.

 

[Yurinka]

The author of these tweets is actually a member here... @Faulkie87 maybe you could expand on your thoughts here and inform the people in the thread what capability Sony has in terms of acquisitions.... <3

Right now I expanded this post to detail it a bit better regarding this topic and also included a rough acquisition price estimation of public game companies.

 

[Bryank75]

Fighting over who Sony will or won't buy won't do anything good guys, let's just wait and see.

We know it will be Lucid Games, iron Galaxy and Camoflaj...

We are just imagining some better stuff....call it hope for a better future.

 

[Midn1ght]

We know it will be Lucid Games, iron Galaxy and Camoflaj...

We are just imagining some better stuff....call it hope for a better future.

Iron Galaxy would actually make sense with Adam Boyes being the CEO. They’ve been porting games on PC for a while and are currently working on Uncharted 4 PC. I just wonder if the release has been delayed by Sony to make space for the two Spiderman games or if the studio is having some troubles with it.

 

[Bryank75]

Iron Galaxy would actually make sense with Adam Boyes being the CEO. They’ve been porting games on PC for a while and are currently working on Uncharted 4 PC. I just wonder if the release has been delayed by Sony to make space for the two Spiderman games or if the studio is having some troubles with it.

I agree, it would be truly terrible and just do nothing to add excitement to PlayStation or gaming at all.

I t would also seem circular, like just buying back executives they had previously.

 

[Midn1ght]

I agree, it would be truly terrible and just do nothing to add excitement to PlayStation or gaming at all.

I t would also seem circular, like just buying back executives they had previously.

They probably would be “cheap” to acquire though and could be a great studio to pair with Nixxes to work on PC ports. That would leave all the other studios free to focus exclusively on console.

Native optimized console games.
Quality PC ports down the line.
No extra work/crunch = Jason happy.

Everybody wins.

 

[Yurinka]

Iron Galaxy would actually make sense with Adam Boyes being the CEO. They’ve been porting games on PC for a while and are currently working on Uncharted 4 PC. I just wonder if the release has been delayed by Sony to make space for the two Spiderman games or if the studio is having some troubles with it.

I assume that maybe they needed some extra time to polish performance and maybe also to implement some extra stuff they got from other PC ports like the 32:9 support and other stuff that we saw recently announced for Spider-Man.

Or maybe there were some 1st party or 3rd party recent delays that made these months too busy. Or thought it was too close of the PS5 remasters, or that they prefer to don't overshadow GoW PC sales, or stuff like that.

As I remember Sony only mentioned "summer" as date for the PC release so maybe they meant September and there is no delay.

But in any case yes, I assume they'll acquire someone else to help Nixxes with the PC ports. Being them porting Uncharted and having Boyes as CEO I think pretty likely they'll buy them.

 

[Bryank75]

They probably would be “cheap” to acquire though and could be a great studio to pair with Nixxes to work on PC ports. That would leave all the other studios free to focus exclusively on console.

Native optimized console games.
Quality PC ports down the line.
No extra work/crunch = Jason happy.

Everybody wins.

I wouldn't be happy.