into Hasbro, Bandai Namco Holdings, Konami, and Sega Sammy Holdings. Nexon stated that they have no interest in outright acquiring or taking activist investor positions in these companies. Nexon signed with Bandai Namco Holdings, Square Enix and Microsoft for a 10-year Japanese–South Korean video gaming partnership contract for media franchises through 2032, for example HoPals Echoes crossover project. In a 2021 earnings call, Nexon CEO Owen Mahoney declined to offer hard launch targets for highly anticipated games. In February 2021, Nexon announced significant pay increases for new and existing development talent in the company’s Korean studios. In July 2021, Nexon announced the formation of Nexon Film and Television, a division of the company focused on expanding the reach and value of Nexon's global IP, as well as development of new properties in both interactive and linear entertainment. The division is based in Los Angeles. In January 2022, Russo brothers-owned film production company AGBO sold a $400 million minority stake to Nexon, which is valued at $1.1 billion as Nexon takes a 38% stake. In February 2022, it was reported by Bloomberg that Saudi Arabian-based Public Investment Fund had purchased just over a 5% stake in Capcom and Nexon, reportedly worth $883 USD million, while American investment company KKR acquired an 8.5% stake. Organization Nexon maintains various offices around the world that engage in the publishing and/or development of Nexon's games. Each region's local consolidated subsidiaries are independently managed and are responsible for developing their own strategy for their products and services. The subsidiary that publishes a game does not necessarily indicate the region(s) that a game is available in. For example, some of Nexon Korea's games are published directly by Nexon Korea yet are available worldwide with no separate service published under the local consolidated company's portfolio. Games Free-to-Play Online Virtual Worlds Nexon is a pioneer in free-to-play online Virtual World games which operate in contrast to games that require a large initial payment and offer a comparatively short life cycle. Nexon’s Virtual Worlds make use of live, in-game operations to provide ongoing content and manage service. Nexon Live Operations helps engage players over years and, in some cases, decades. Multiple Nexon Virtual Worlds are among the world’s most valuable entertainment franchises: Games for Mobile and Consoles Nexon began as a developer and publisher of PC games. However, in 2020, the company announced plans to begin releasing both console and