EUR-Lex: Zenimax pathway to acquisition made clear. (Relevant documentation available)

A link to the EUR-Lex ( EUR-Lex - 52021M10001 - EN - EUR-Lex ( shows that they have found no issues with the merger of MS and Zenimax Media and that relvent 3rd parties have been notified that they have until the 15th (this was posted on the 5th) to submit any complains that would require further investigations.

Interestingly, A new subsidiary created by MS is called Vault and all the holding in Zenimax Media will be placed in this new subsidiary.

Someone please tell me if I got anything wrong or if this is fake but it seems legit.

This subsidiary is not under Xbox Game Studios subsidiary, which may hold up with what Xbox said about them retaining independent publishing rights and Xbox Games Studio and Vault will exist as separate publishing entities . This is similar to how Embracer Group has separate publishing groups like THQ Nordic and Saber with each being able to go out and function independently.


XboxEra just posted on this and I missed it. Apologies.

MOD EDIT: Adjusted title to provide clarity.


I wonder if Microsoft will say to sony “you want vault games to be on PS5? Then you have to put PS5 games on Xbox!”

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Ill be curious to see what the new Vault does. Being made separate form Xbox games studios doesn’t mean much because business will often do that and then “restructure” to fully incorporate them into existing subsidiaries. But companies like Embracer usually keep there heads out of the news like keeping large independent subsidiary like THQ Nordic and Saber which will go out and make there own acquisitions. The reason Embracer was so prevalent with the GearBox deal is because they are being added as there own independent subsidiary working with Embracer rather then being incorporated.

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EU may not accept the deal by the 15th. Third parties have by the 15th to submit documents for evidence. EU has until 5th to accept or extend.

Edit: May not will, but probably will tbh.


Right Right. I changed the name. Its more general now but its more correct.


This is not accurate.


I didn’t know this was already covered. I figured I had gotten some things wrong but I didn’t see anyone talking about so I wanted bring it up so people could discuss and clarify. I’ve added the link to the main post.

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No worries! We thought the same thing when we saw the word “Vault”, so you’re not alone. It’s why we reached out to an expert. :wink:


Let it be vault, Xbox game studios or xyz

Day one Gamepass is all i care about.


If it’s not going to be seen as XGS be ready to see plenty of articles, videos and questions by media regarding whether these games stay in Xbox ecosystem or not, lol.

Just my guess, that is.

Which sure as hell isn’t going to happen, PS5 games on Xbox. Xbox should not play the “good guy” here. They have a chance in a lifetime to really become big and great again, something they just weren’t with Xbox One, don’t mess that up.

Also, correct me I’m wrong, didn’t Pete Hines last year say they would still publish these games as Bethesda (Softworks)? It’s anyone’s guess right now. I guess it also can’t be compared to any other of the acquisitions they made since Bethesda has many different studios.

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I’m still confident they know exclusivity is the only way they’re going to eat into Playstation’s marketshare but then the XBL price hike happened and I thought to myself maybe the obvious aint so obvious over there in Redmond.


My guess is the “Vault” just makes things easier. Everything is already in place at Zenimax, with regards to publishing games from the studios. The Vault allows MS to take over as owner, without interrupting the day to day running of the business. No need to be hiring & firing a whole bunch of people, etc…

That’s my guess anyway.

What this could mean for exclusivity of the games I have no clue :sweat_smile:


On the other hand, say the plan has been to keep it all multiplatform all along, why even last year mention specifically that they will honor the deals like Ghostwire and Deathloop? At the same time there was also the “case by case basis” line. Meh, we’ll probably find out soon. Unless they don’t share the deets yet with us after the deal closes.

But I fail to see the point of making such a huge purchase, especially to improve GP’s appeal even more and yet keep it all multiplatform too. Would be crazy. Or they just aren’t willing to take the risk, afraid locking these games into their ecosystem will seriously backfire. But I say, go for it, take that chance, see how many GP subs you receive.

I’m only speculating here because at the end of the day…

what do I know.


This is my understanding from my experience in working at a large company who acquired new ones, for the immediate future its very much a case of status quo, no need to spend further money managing them to bring them up to quality, if they are doing that themselves. In time it would/could be more “fully merged”

Thats why I’ve been sceptical of them acquiring studios with “troublesome elements” no-one wants to acquire a new company then have to sort out their HR nightmares.

I don’t know either what it means with regards to exclusivity.

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The way we should look at is the Vault and XGS are part of just Xbox and Pete Hines and Matt Booty runs them but both of them report to Phil, it just makes Matt Booty job easier thats the way I see it

I don’t know why people are worried, Vault is just a way for MS to ensure Zenimax will retain its functionality and to avoid mass layoffs. At the end of the day, they still have to report to Phil Spencer. Just that Bethesda will become a second publishing brand under Xbox, like XGS.


It is just a case that people do not fully understand the nuances of the corporate legal process.

As @Sikamikanico pointed at through a lawyer, the ‘vault’ is just the legal means whereby MS keeps Zenimax as a separate entity within the Xbox division and way back in December @Klobrille made that very handy chart as to how Zenimax will function within Microsoft, so it will still function semi-autonomously within the Xbox division, but Pete Hines will now report to Phil Spencer rather than the board of Zenimax as he does atm.


Eaxctly, it is the way other franchises are operating under Disney, or Kadokawa with its many light-novels publishing brands.


Yeah that makes a lot of sense. And no layoffs is only a good thing! At first I tried comparing it to Obsidian, NT and so on, but a comparison can’t be done since Obsidian and NT didn’t come with a publisher, Bethesda does.

One can simply not compare this to the other acquisitions because this one is on another scale. It is an entire publisher and would probably almost doubles the employee count of MGS if it was fully integrated into it. They are a perfectly functioning business as well, so why rock the boat when all Xbox wants is games from them.