By Sam BiddleThe company behind video game streaming service Vox Media is selling its remaining assets and moving to a new digital publishing platform that will give it more flexibility.
The decision, made Wednesday, is expected to accelerate the company’s transition from the gaming industry to a digital publishing business.
It will also put a much-needed financial shot in the arm for Vox’s online gaming platform, which has faced some significant delays.
Konama Interactive, the company behind the game streaming company, said it is taking a $1 billion write-down and shutting down its offices.
The company said it will be selling the remaining assets, including its game publishing division, and creating a new, non-gaming company called Vox Media.
The new company will take the name “Konima Digital Publishing,” which will be part of its digital content business, it said.
Kremlin-owned Kojima Productions is working on the project.
Kojima is a longtime friend and business partner of Konami president Masahiro Sakurai, who was a vocal critic of the publisher’s digital strategy during the development of Metal Gear Solid V: The Phantom Pain.
Kronosky Media, the digital publishing division of Konami, has had problems securing funding.
Konsa-Media, which is owned by the Russian company Gazprom Media Group, said Wednesday that it was also closing down its online gaming operations and relocating its headquarters to Tokyo, Japan, from the United States.
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