00:00 It's Benzinga and here's what's on the block.
00:02 Disney is investing $1.5 billion to take an equity stake in Epic Games,
00:06 the company behind the popular video game Fortnite.
00:08 This marks Disney's biggest investment in the gaming industry to date.
00:11 Disney and Epic will work together to create new games in an entertainment universe where
00:15 consumers can engage with Disney, Pixar, Marvel, Star Wars, and other brands through gaming,
00:19 watching content, and shopping.
00:21 Epic Games CEO Tim Sweeney said the companies will collaborate to build a persistent,
00:25 open, and interoperable ecosystem, bringing together Disney and Fortnite communities.
00:29 Disney CEO Bob Iger called this a timely and important investment given how much
00:33 time younger generations spend gaming.
00:35 For all things money, visit Benzinga.com.
