NCBDF - Nexon makes big bet on Hasbro Sega Sammy and other entertainment names

Japanese gaming firm Nexon (NEXOF) says it invested $874M in companies across the entertainment industry, including Hasbro (HAS), Bandai Namco (NCBDF), Konami (KNMCY) and Sega Sammy (SGAMY). The firm said in a statement that it recorded a $279M unrealized gain on the investments, which are part of a $1.5B pool for investments on users spending increasing amounts of time in virtual worlds. Nexon says it has no intention of acquiring the companies or making activist shareholder proposals with the investments. "We believe companies with strong, well-managed global IP are often overlooked and undervalued in a market that is narrowly focused on introductions of new IP... These investments reflect our respect for management teams that create and grow global properties over a period of years and decades. We believe that each has potential to capitalize on the secular shift from linear formats to interactive entertainment." Videogame sales in the U.S. set

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Nexon makes big bet on Hasbro, Sega Sammy and other entertainment names