Xbox对私募股权买家价值或达$150 billion，但微软坚称部门不出售
未证实尚未证实：这是爆料或传闻类报道，相关方没有确认，请勿当作已确定的消息。
Xbox Could Be Worth Up to $150 Billion to Private Equity Buyers, but Microsoft Insists the Division Isn’t for Sale
The Information报道多家私募股权公司探讨联合收购微软游戏业务，估值$100 billion至$150 billion，但微软发言人称Xbox不出售。相关讨论尚处初步阶段未形成正式谈判，微软另考虑过分拆或重组等结构选项。Xbox财年收入降7%至$21.8 billion且利润率仅3%，为传闻提供财务背景。
- 0-20%: Unlikely - Lacks credible sources
- 21-40%: Questionable - Some concerns remain
- 41-60%: Plausible - Reasonable evidence
- 61-80%: Probable - Strong evidence
- 81-100%: Highly Likely - Multiple reliable sources
85%
Highly Likely
The Xbox buyout rumor that started circulating shortly after Asha Sharma replaced Phil Spencer as the division's Chief Executive Officer has just gotten quite a bit more substantial following a new report published by The Information, the reliable (but paywalled) technology business website that already correctly leaked details about the massive layoffs that recently hit the division.
The report reveals that several private equity firms have explored a potential joint acquisition of Microsoft's gaming business, which could be valued between $100 billion and $150 billion. That would put any prospective transaction well above the recent $55 billion leveraged buyout of Electronic Arts, including debt.
Before anyone gets carried away, though, the discussions were reportedly preliminary and have not actually developed into formal negotiations with Microsoft. Moreover, a company spokesperson offered an unequivocal response: Xbox is not for sale. In other words, there is a significant difference between investment firms discussing how they might acquire the business and Microsoft actually entertaining an offer.
Still, The Information's article suggests that an outright sale is not the only structural option examined. As previously covered, Microsoft has also reportedly considered spinning off Xbox, reorganizing it as a wholly owned subsidiary, or establishing a joint venture with partners. Those would be very different outcomes, particularly regarding how much ownership and control Microsoft would retain.
Xbox's financial figures help explain why such discussions are even taking place. Xbox revenue famously declined 7% to $21.8 billion in the fiscal year ended in June, accounting for approximately 7% of Microsoft’s total revenue. More worryingly, its internal accountable margin fell to just 3% over the year through June.
That is a rather thin return for a division that includes Activision Blizzard, which Microsoft acquired in 2023 for roughly $75 billion. Xbox currently employs around 14,000 people, and Sharma has already begun making substantial changes to optimize its operations and return to growth, as mandated by Microsoft CEO Satya Nadella. In July, she started eliminating 3,200 jobs (of which around over the following year while increasing investment in major franchises.
Of course, finding a buyer would be considerably easier said than done. Few firms could finance a $100 billion-plus acquisition on their own, making a consortium the more plausible route should Microsoft ever decide to pursue a sale. Meanwhile, Sharma's turnaround effort faces challenges beyond the organizational chart. The gaming market has struggled with stagnant sales and rising console hardware costs, and Fortune reported yesterday that Xbox internally projects its Holiday 2028 console could cost between $1,200 and $1,800 (and possibly feature The Elder Scrolls VI as a big launch exclusive, though that's just speculation for now).
Microsoft's public position remains clear, but this latest report gives the speculation a more concrete basis, albeit without establishing that an Xbox sale is actually on the table.
About the author: With over two decades of experience in gaming journalism, Alessio Palumbo has led the gaming vertical at Wccftech since August 2015. He started working at a young age for Italian websites like Everyeye.it, Gamestar.it, Nextgame.it, and Multiplayer.it before kickstarting the indie English-language publication Worlds Factory as its founder and Editor in Chief. In the last decade, he has coordinated the overall output of Wccftech's gaming section, managed PR relations, assigned reviews, produced daily news coverage, edited gaming content as needed, and delivered game reviews. Arguably, his trademark content is the long series of exclusive developer interviews that have been cited by Wikipedia and by the biggest news media and gaming publications. His passion for technology also makes him knowledgeable when it comes to gaming hardware and tech. His favorite genres include RPGs, MMORPGs, and action/adventure games.
Follow Wccftech on Google to get more of our news coverage in your feeds.
来源：Wccftech · wccftech.com