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Two PlayStation DualSense controllers (Nikos Pekiaridis/Getty Images)
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Sony’s developing a handheld console to compete with Nintendo

Sony’s had a tough year — now the entertainment giant is looking to flip the switch for portable PS5 games.

Millie Giles

It’s been a tumultuous year for Sony: its gaming division had one of the worst video game releases ever, with high-budget shooter “Concord” selling fewer than 25,000 copies; the Spidey-adjacent Marvel movie “Madame Web,” and other titles from its film division, bombed at the box office; and it oversaw multiple rounds of layoffs… all pointing to the entertainment giant needing a big commercial win in 2025.

Now, according to reporting from Bloomberg, it seems that Sony plans to get back in the game by making a handheld console to rival Nintendo’s smash-hit mobile device, the Switch. While Sony has forayed into the handheld-gaming space before with the PlayStation Portal, released last year, as well as the now discontinued PS Vita (2012) and PlayStation Portable (2005), what will supposedly separate the new device from its predecessors is allowing PS5 games to be played without an active Wi-Fi connection.

Even so, the console is in very early stages of development — likely years away from an official launch, and there’s a chance Sony could pull the plug altogether on bringing the device to market. However, with Sony’s last blockbuster video game console, the PS5, being released four years ago this month, the company needs to score another success if it’s to hike up its slumping margins: unit sales of the gadget were just 3.8 million in the most recent quarter, down 54% from its peak in Q3 FY23 (though still seeing ~1.5 million fewer units sold than the PS4’s sales peak in FY16).

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Left to their own devices

Nintendo isn’t Sony’s only competition in the space, with Microsoft also rumored to be working on a portable version of an Xbox. Indeed, as gamers await the long-anticipated Switch 2, with the release date tipped to be March 2025 at present, developers are rushing to cash in on the significant demand for playing games anywhere — as mobile gaming on smartphones has boomed in recent years, despite some of the weirdest and worst ads on the internet.

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Netflix is down amid reports it’s leading the Warner Bros. bidding war as Paramount cries foul

Netflix’s charm offensive appears to be working.

Netflix is reportedly emerging as the leader in the bidding war for Warner Bros. Discovery after second-round bids this week, edging out entertainment juggernaut rivals Comcast and Paramount Skydance.

Investors don’t appear psyched by the streaming leader’s turn of fortune: the stock is down on Thursday morning, a day after closing down nearly 5% following reports that scooping up HBO Max wouldn’t necessarily result in a big market share boost.

Paramount, which has reportedly made five bids for Warner Bros. Discovery, doesn’t love the current state of play, either. The company sent WBD a letter questioning the “fairness and adequacy” of the process, highlighting reports that WBD’s board favors Netflix and is resisting Paramount.

Any offer would be subject to regulatory approval — a fact that may have weighed against Netflix’s offer given that cofounder Reed Hastings’ politics are vocally to the left, very much at odds with the current regulatory regime. Paramount seems confident in its ability to get approval, reportedly boosting its breakup fee to $5 billion should its potential acquisition fall apart in the regulatory process.

Investors don’t appear psyched by the streaming leader’s turn of fortune: the stock is down on Thursday morning, a day after closing down nearly 5% following reports that scooping up HBO Max wouldn’t necessarily result in a big market share boost.

Paramount, which has reportedly made five bids for Warner Bros. Discovery, doesn’t love the current state of play, either. The company sent WBD a letter questioning the “fairness and adequacy” of the process, highlighting reports that WBD’s board favors Netflix and is resisting Paramount.

Any offer would be subject to regulatory approval — a fact that may have weighed against Netflix’s offer given that cofounder Reed Hastings’ politics are vocally to the left, very much at odds with the current regulatory regime. Paramount seems confident in its ability to get approval, reportedly boosting its breakup fee to $5 billion should its potential acquisition fall apart in the regulatory process.

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Delta says the government shutdown will cost it $200 million in Q4

The 43-day government shutdown that ended last month will result in a $200 million ding for Delta Air Lines, the airline said in a filing on Wednesday.

That’s about $100,000 per shutdown-related canceled flight. (Delta previously said it canceled more than 2,000 flights due to FAA flight reductions.) When the company reports its fourth-quarter earnings, the shutdown will lop off about $0.25 per share.

Delta initially stayed calm about the shutdown, with CEO Ed Bastian stating in early October that the company was running smoothly and hadn’t seen any impacts at all. One historically long shutdown later, Delta wasn’t able to remain untouched.

The skies have since cleared, though, and Delta’s filing states that booking growth has “returned to initial expectations following a temporary softening in November.”

Delta’s shares were up over 2% as of Wednesday’s market open.

Delta initially stayed calm about the shutdown, with CEO Ed Bastian stating in early October that the company was running smoothly and hadn’t seen any impacts at all. One historically long shutdown later, Delta wasn’t able to remain untouched.

The skies have since cleared, though, and Delta’s filing states that booking growth has “returned to initial expectations following a temporary softening in November.”

Delta’s shares were up over 2% as of Wednesday’s market open.

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