In context: In the past six months, half a dozen game studios, including Activision Blizzard, Bungie, and Bethesda have been acquired for billions. Everyone is wondering which studio will be next, including Ubisoft and its shareholders. This week the company published its quarterly report with some wording that made it read more like a sales brochure, prompting questions about the company’s intentions. Ubisoft published its quarterly report on Thursday and its executives held an earnings call with analysts and shareholders afterward. Subtitles in the 10-page report like "Ubisoft’s assets have never been so strong at a time when the value of assets has never been so high" and "The richest pipeline of games in Ubisoft’s history" made it read like a sales brochure, prompting questions about the company’s intentions. "In a consolidating industry I guess I’m wondering why you guys haven’t had an offer given the embedded value of your IP," analyst Matthew Wal