This seems to be a regular thing in the modern video game industry (and probably lots of other industries as well). Buy up a lot of shit, hoping that at least some of it will make you some money eventually, operate at a loss until you reach that prophesied time, and then, when you obviously never reach that time due to running into the inevitable pitfalls of constantly operating at a loss and need to make actual money quickly to survive for much longer, you start killing off the things you foolishly bought and laying people off and just generally altering the deals in whatever way you can in hopes of actually making some money. And then, when that fails, you just sell out your company to an even bigger company that's doing the exact same fucking thing, assuming there's anyone left that's willing and able to buy your company.

See also: Wizards of the Coast/Hasbro, Unity, Embracer Group, Electronic Arts, Square Enix, Activision Blizzard, Microsoft, Google, Tencent, and an assload more like that.