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pokoko said:
Honestly, I think buying up studios all over the place is a thing of the past. I don't think it's been good for the gaming industry to have so much under a few umbrellas. We've seen many publishers become bloated and inefficient to the point that they've had to close multiple locations.

I believe the future is going to be full of "second-party" contracts and collaborations. Publishers and platform holders can commision games and if things don't work out, they can walk away without further financial obligations. Studios can pick what they want to work on or pitch their own proposals without being forced into assignments.

I really don't see any need for Nintendo to expand all that much and they certainly don't need to "buy Sega" or anything like some people are proposing.

I agree.  There's no need for the console guys to buy developers.  Just fund development of exclusive titles one at a time.  

For devs, it works the same - sell games one at a time as exclusives, or timed exclusives, or whatever, or make multi-plats if you have the means to finance production on your own.