The Chinese entertainment power house Tencent has officially opened their own US-based studio to develop AAA games for the upcoming Playstation 5 and Xbox Series X.
The new studio called LightSpeed LA will be based in Orange County. The studio will also be led by Steve Martin, a Rockstar veteran best known for his leadership on development of Grand Theft Auto V and Red Dead Redemption 2.
Steven Martin will be the studio head and executive producer of development. In a statement announcing the studio, he said:
“We’re ushering a new era of game culture by combining world-class development with a stress-free work environment. From day one, our teams will be focused on building the highest caliber games while promoting integrity, proactivity, collaboration, and creativity.”
LightSpeed LA is also made up of some top people in the industry who have worked for the likes of Rockstar Games, 2K Games, Insomniac, and Respawn Entertainment.
Their first project will be an AAA open world game developed for the PS5 and Xbox Series X, but no other details have been shared.
Tencent is no stranger to the gaming world, with 4 of their own studios and have published games such as PUBG, Arena Of Valor, Crossfire & more. Tencent also has equity in many gaming studios including;
- Full ownership of Riot Games, the American developers of League of Legends
- 80% ownership in the New Zealand company Grinding Gear Games, the developers of the game Path of Exile.
- Approximately 84% ownership in Finnish mobile game developer Supercell, makers of Clash of Clans and Clash Royale
- 40% ownership of American developers Epic Games, the developer of popular online game Fortnite
- 5% ownership of American holding company Activision Blizzard, the parent company of Activision, Blizzard and King
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