The Assassin’s Creed publisher released its first-half earnings Friday, days after a last-minute delay raised speculation of big news afoot. It turns out the company’s auditors had flagged an issue with how it recognized revenue from an unnamed partnership, putting Ubisoft in breach of commitments around how much debt it would carry, an issue it said is being addressed. The restatement inflated last year’s net losses by 53 per cent to over €243 million, but didn’t impact its adjusted figures. (The Logic)

Talking point: The more meaningful news came a little later on in the day, as Ubisoft closed its previously announced deal with Tencent to put key franchises into a new co-owned subsidiary company called Vantage Studios. While Vantage is based in France, it includes Canadian Ubisoft development teams in Montreal, Quebec City, Sherbrooke and Saguenay. Ubisoft said Vantage marks a new operating model for the company built around “creative houses” that will be designed by the end of the year. “These creative houses will be autonomous, efficient, focused and accountable business units, each with its own leadership, creative vision and strategic roadmap,” Ubisoft CEO Yves Guillemot said.