Embracer Group paid $396 million for the owner of the rights to the "Lord of the Rings"
In August 2022, Embracer Group announced the purchase of Middle-earth Enterprises, which owns the rights to The Lord of the Rings and The Hobbit books. Almost a year later, the Swedish holding disclosed the value of the transaction.
In the latest financial report, Embracer Group reported that the purchase cost 4,265 billion Swedish kronor, or $396 million at the current exchange rate. She added that of this amount, 2.9 billion Swedish kronor ($269.4 million) “affected the cash flow” of the holding. Probably, we are talking about how much Embracer Group paid for Middle-earth Enterprises in cash.
Recall that last week, Embacer Group Chief operating officer Matthew Karch said that the holding plans to turn The Lord of the Rings into one of the largest gaming franchises in the world.
