The fate of Ubisoft is one of 2025’s biggest video game stories

A company can only call so many emergency meetings.

Ubisoft hosted another surprise call for investors today, its second in four months.

The occasion this time sounded like the gear-up for a potential sale or break-up of the gaming giant. Ahead of the call, Ubisoft announced that:

…it has appointed leading advisors to review and pursue various transformational strategic and capitalistic options to extract the best value for stakeholders. This process will be overseen by the independent members of the Board of Directors. Ubisoft will inform the market in accordance with applicable regulations if and once a transaction materializes.

Longtime CEO Yves Guillemot elaborated slightly in prepared remarks, saying,

We are convinced that there are several potential paths to generate value from Ubisoft’s assets and franchises.

Pressed for more details by stock analysts on the call, Guillemot and CFO Frederick Duguet declined to elaborate.

But there’ve been hints about what could be coming. Bloomberg reported in October, for example, that Ubisoft and major investor Tencent were considering buyout options. Last year, the company also noted that their ongoing cost reduction plan includes the option of divesting of “non-core assets.”

Today, Ubisoft also delayed its next big game, Assassin’s Creed Shadows, yet again, this time for just a month to March 20, 2025.

“Ubisoft in crisis” is the gaming headline equivalent of a political outlet’s “Democrats in disarray.” It’s a perennial.

As of now, the company appears to be buying all the time it can, as it trundles into 2025.

But all crises must end (right?) and it’s hard to fathom that the Ubisoft in January 2026 will be much like the one in January 2025. So much has already changed.