Bloomberg reports at least three companies have bid to buy Arkane Studios from Microsoft, with Ubisoft the only named bidder, as a December 13 deadline decides the Dishonored studio’s future.
One of the most respected studios in the industry may be about to change owners. Bloomberg reporter Jason Schreier reported on November 3 that at least three gaming companies have submitted bids to buy Arkane Studios from Microsoft, and Ubisoft is the only bidder named so far. Insider Gaming says it has independently confirmed Ubisoft's offer. Nothing is signed, and this story is based on reporting from people familiar with the negotiations, so treat every detail below as reported rather than final.
What Has Been Reported
According to the Bloomberg report, Ubisoft and at least two other, unnamed gaming companies have made offers for Arkane, the French studio behind Dishonored and Deathloop. No financial terms have been disclosed, and reports say Microsoft is not yet satisfied with the proposals it has received. Xbox has also considered a different option entirely: selling the studio to its own management, which would make Arkane independent, a path other Xbox studios have taken before. An Xbox spokesperson told Bloomberg the company is exploring options ahead of a December deadline and declined to say more. Ubisoft has not commented.
How Arkane Got Here
This did not start this week. Arkane Lyon was caught in the mass layoffs and restructuring that hit Xbox in July, when the studio was reportedly earmarked as part of a wider divestment plan. French newspaper Le Monde reported on October 23 that Microsoft wanted to close the studio, putting around 217 jobs at risk, but French law requires a company of Microsoft's size to look for a buyer before shutting a site down. That legal process is a big reason Arkane is still here to be bid on. In October, Microsoft extended the consultation period by a month, moving the deadline from November 13 to December 13, 2026, and told PC Gamer on October 26 that it was actively seeking a partner to support the next phase of development for the studio's current project.
What It Means for Marvel's Blade
That project is Marvel's Blade, announced at The Game Awards in 2023 and still one of the most anticipated games on Xbox's slate. The hopeful news for fans: a sale would most likely let Arkane finish Blade, according to Schreier's reporting, and he has said he would be surprised if the studio shut down entirely. Industry chatter has put the game at roughly one to two years from release, though that window is not an official timeline from anyone involved. The alternative outcomes are the bleak ones: a management buyout that keeps the team together as an independent studio, or, if no deal satisfies Microsoft by December 13, closure coming back onto the table.
It is also worth being precise about what the December 13 date is. It is the end of the consultation period required under French law, not a confirmed date for completing a sale. A deal could be announced before it, structured around it, or still be negotiated against it, but when that window closes, the legal protection that has kept the studio open runs out. That is why the reporting describes the coming weeks as a deadline with real weight behind it: 217 people, a studio with a reputation, built over more than two decades, for some of the most distinctive games ever made, and an unfinished Marvel's Blade are all waiting on the same decision.
Why Ubisoft Makes Sense, and Why Nothing Is Certain
On paper, Ubisoft is a natural fit. It is a French publisher bidding on a French studio famous for stealth and immersive sim design, the exact craft behind Dishonored, Prey and Deathloop. But a named bid is not a winning bid. Two rival offers are still anonymous, the money has not leaked, and Microsoft can still say no to everyone. What is certain is the clock: by December 13, one way or another, the future of the studio that made Dishonored gets decided.
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