Disney is investing $1.5 billion in Epic Games to create a new ‘games and entertainment universe’

Disney will invest $1.5 billion in its creator, Epic Games Fortnite, the company announced Wednesday. As part of the initiative, Disney and Epic Games will create an entirely new “universe of games and entertainment” over the next few years, Disney said. statement.

“Our exciting new relationship with Epic Games will bring together Disney’s beloved brands and franchises with the wildly popular Fortnite in transformative new games across the entertainment universe,” said Disney CEO Bob Iger. “This marks Disney’s largest entry into the world of gaming and offers significant opportunities for growth and expansion.”

Players from Disney, Pixar, Marvel, Star Wars, Avatar, and more” in a new entertainment universe powered by Epic’s flagship Unreal Engine. Disney currently uses the Unreal Engine to create movies, video games, and content used in Disney theme parks around the world. It has also previously partnered with Epic Games to bring characters from Marvel. Tronand Star Wars for Fortnite.

Neither company said what the valuation of privately held Epic Games would be after Disney’s investment. Chinese tech conglomerate Tencent currently owns 40 percent of Epic Games, while Sony owns just over 5 percent.

“[We] Disney and Fortnite are collaborating on something brand new to build a sustainable, open and interoperable ecosystem that will bring the Fortnite community together,” Epic Games CEO Tim Sweeney said in a statement. “Disney was one of the first companies to believe in the potential of bringing their world together with us in Fortnite.[.]”

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