Bethesda Parent Gets $300 Million Investment

ZeniMax Media, the parent of Oblivion creator Bethesda, has announced a $300 million investment by Providence Equity Partners to fund future growth, ramp up publishing and development, facilitate acquisitions, and finance MMOGs. ZeniMax Media itself founded in 1999 by Robert A. Altman, its Chairman and CEO, and has multiple subsidiaries making game-related content, the most notable of which is Bethesda Softworks. Bethesda released The Elder Scrolls IV: Oblivion, voted Best Game of 2006 by multiple publications, and is currently working on next-gen title Fallout 3. However, the firm also has publishing elements to its business, releasing third-party developed games using the Star Trek license, as well as the upcoming Rogue Warrior. In addition, the parent company recently announced ZeniMax Online Studios, a new division focused on developing new massively multiplayer online games. This division is headed by MMO veteran Matt Firor, one of the founders of the now EA-owned Mythic Entertainment. “We are pleased to partner with one of the best managed companies in the videogame industry,” said Michael Dominguez, a Managing Director of Providence. “ZeniMax Media has an outstanding series of proven interactive entertainment content and a burgeoning position in the rapidly growing global video game market. We look forward to working with Robert to build value at ZeniMax Media over the long-term.”