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Disney Plans to Sell Off Newly Acquired Fox Gaming Company

The Walt Disney Company is planning on selling FoxNext, a video game company that was acquired by Disney in its purchase of 21st Century Fox.

According to Bloomberg, direct-to-consumer chief Kevin Mayer discussed keeping the company with Disney's CEO Bob Iger. Iger, however, concluded that he no longer wants Disney to be in the business of video games and agreed to sell it off.

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FoxNext was founded in 2017 with a focus on free-to-play mobile games. It was responsible for Marvel Strike Force and is currently working on games based on Avatar and Alien.

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Disney has a rocky history when it comes to video games. The company shut down Disney Infinity and many of its game studios in 2016. Club Penguin was later closed in March 2017.

Instead of making its own games, Disney now prefers to license its properties out to other publishers and developers. For example, Electronic Arts is in charge of all of Disney's Star Wars games, while Nintendo handled Marvel Ultimate Alliance 3: The Black Order. 

“We’ve just decided that the best place for us to be in that space is licensing and not publishing,” Iger said in a conference call this past February.

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