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Regarding Nintendo buying Shin'en, the guys have gone on record saying they want to stay independent because they like having the freedom to do what they want.

And really, for the kinds of games they want to make (basically modern, polished versions of the kinds of games popular during the 5th gen, like F-Zero/Wipeout, Banjo Kazooie/Spyro, etc) they don't really need the backing of a major publisher.