I think that were Nintendo to get into such financial dire straights for this topic to be relevant (which it isn't) the most likely situation would be for Nintendo to be bought as a whole by Disney/Apple, with them retaining all the IP.
In fact, were Nintendo ever even approaching bankruptcy, the sensible approach would be to sell off their unused IP before the business went under. Sony and Microsoft would kill to have even half the bank of IP that Nintendo does.
But anyway, daft topic is daft.
Better question: what will happen in the 4 universes where Sony goes bankrupt in the next 2 years?
My bet is that Apple will buy out all of Sony Electronics (including SCE) as it gives them an 'in' into both TVs and consoles. Whilst the rest of the company goes to other parties.
Nintendo/Microsoft may pick up a dev/IP or two. But I reckon Apple would take it as a chunk.
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