Embracer Group! It's the conglomerate you may recall from when it swallowed up seemingly half the industry a few years ago, before hitting a brick wall when a $2 billion mystery deal it had lined up vanished in a puff of smoke, leading to layoffs, sell-offs, and one stunned CEO at a press conference (don't worry, he got better).
Well, now what remains of Embracer (which is still quite a lot of corporation) is undergoing binary fission—the company is splitting in two, spinning off its Fellowship Entertainment arm into its own publicly listed company to "further increase management focus to capture the full potential of the high-quality assets in the group and accelerate value creation." And thank god. I was worried they weren't going to do that.
