Ubisoft is starting the week under intense scrutiny. Trading in its shares is still frozen, half‑year results are delayed, acquisition rumours are swirling, and the company is facing a public backlash over AI artwork in Anno 117: Pax Romana—all while pushing an aggressive Black Friday sale and celebrating a Rainbow Six Siege Major win.
Here’s a detailed roundup of everything happening around Ubisoft on November 17, 2025.
Earnings delay and trading halt keep investors guessing
On November 13, Ubisoft announced that it was postponing publication of its half‑year FY2025–26 results and asked Euronext Paris to suspend trading of its shares and bonds from the market open on November 14 “until the publication of its first-half 2025-2026 results in the coming days.” Reuters
A scheduled investor call that was due to take place that evening was also pulled at short notice. Reuters
In an internal memo quoted by Reuters, Chief Financial Officer Frédérick Duguet told staff that Ubisoft was taking “extra time to finalize the closing of the semester” and said the trading suspension was intended to limit speculation and volatility during the delay. Reuters
As of November 17, Ubisoft’s Investor Center still lists only the “Postponement of H1 FY2025–26 results announcement” as its latest regulatory news—no new date for the earnings release has been published on the company’s own site. Ubisoft
Analysts question the turnaround story
Coverage today from NotebookCheck underlines how unusual the situation looks from the outside. The outlet reports that the earnings call was delayed just 15 minutes before it was due to start, and notes that the trading halt, combined with recent project cancellations and leadership upheaval, has raised questions about the company’s long‑promised turnaround. Notebookcheck
The article points to:
- Multiple cancelled projects this year, including a post–American Civil War Assassin’s Creed concept, an ambitious sci‑fi game known as Project Scout, and a new Splinter Cell title. Notebookcheck
- The removal of a long‑serving Assassin’s Creed director in what has been described as a contentious exit. Notebookcheck
Financial commentary on Investing.com goes further, arguing that the delay and suspension “deepen concerns” over Ubisoft’s ability to execute on its restructuring plan. The piece notes that Ubisoft’s Paris‑listed shares are down roughly around 50% year‑to‑date, underscoring how fragile investor confidence already was before the latest surprise. Investing
Is an acquisition on the table?
Today, a widely shared report from Tech4Gamers pushed speculation into overdrive. Citing an industry insider, the site says a Ubisoft employee claimed that “someone” is serious about buying the publisher and that the potential buyer is not US‑based—with Tencent and Sony floated as obvious candidates, given earlier rumours and Tencent’s existing 25% stake in Ubisoft’s Vantage Studios IP subsidiary. Tech4Gamers
According to that report:
- The trading halt is described in a now‑viral X (Twitter) post as linked to “serious M&A discussion to close on assets.” Tech4Gamers
- Commentators are split on whether a takeover would provide much‑needed stability or further reduce Ubisoft’s creative independence. Tech4Gamers
It’s important to stress that none of this has been confirmed by Ubisoft. In both its official release and internal memo, the company frames the move strictly as a short delay to finalize the books and explicitly says the halt is meant to curb speculation, not invite it. Reuters
Some stock‑analysis sites list November 20, 2025 as the expected next earnings date, but those are projections rather than formal guidance from Ubisoft itself. StockInvest
Until Ubisoft publishes the delayed figures and resumes trading, uncertainty around the company’s direction—and ownership—will remain a central story.
Ubisoft UK warns of falling sales as players buy fewer games
Another key development today comes from the UK arm of Ubisoft. In newly filed accounts reported by City A.M., Ubisoft Limited warns that its revenue for the year to 31 March 2026 is expected to decline, despite an 11% rise in turnover in the prior financial year. City AM
The subsidiary attributes the outlook to two linked trends:
- Fewer new Ubisoft titles launching in the current financial year.
- A structural shift in player behaviour, where consumers “are playing fewer games, playing them for longer,” making it harder for new releases to stand out and hit historical sales levels. City AM
The filing also highlights broader market pressures:
- UK physical software sales dropped about 35% in the year to March 2025.
- UK hardware sales fell around 25%, with Ubisoft citing a maturing console cycle and the absence of major new hardware launches. City AM
Although group revenue rose to £33.3m in the last financial year thanks in part to integrating a customer relationship centre, underlying pre‑tax profit was broadly flat, and headline profit collapsed after a one‑off £55m dividend from Ubisoft Reflections the year before wasn’t repeated. City AM
The article also recalls that Ubisoft Reflections, the Newcastle‑based studio associated with the Tom Clancy brand, cut around 100 jobs and closed its Leamington Spa site in April 2025 as part of a broader €200m cost‑cutting programme across European operations. City AM
In other words, even before the current trading halt, Ubisoft was already in the middle of painful restructuring and grappling with changing player habits, digital distribution, and subscription services.
Anno 117: Pax Romana – acclaim, AI artwork backlash, and Ubisoft’s response
Ubisoft’s biggest new PC and console release this month, Anno 117: Pax Romana, is at the centre of both praise and controversy.
Strong reviews for Ubisoft’s new Roman city-builder
The city‑building strategy game, developed by Ubisoft Mainz, launched globally on November 13 for PC, PlayStation 5 and Xbox Series X|S. Ubisoft
Reviews so far have been broadly positive. A detailed write‑up from Business Today today calls Anno 117 a “sumptuous Roman sandbox” and highlights: Business Today
- A richly realised Roman setting, from bustling Latium to foggy, politically complex Albion.
- Layered economic gameplay where trade routes, naval logistics and class‑based housing needs constantly interlock.
- Naval battles that feel tactical and weighty, while land combat remains optional for more pacifist players.
- A lengthy sandbox “endless mode” that eclipses the relatively short story campaign.
The verdict there is that Anno 117 is one of Ubisoft’s most atmospheric and rewarding city‑builders to date, even if its economy can still spiral into the kind of brutal death loops long‑time Anno fans will recognise. Business Today
Other outlets, like TechRadar, echo that the game is polished and more approachable than Anno 1800, even if its simplified systems may disappoint players seeking maximum complexity. TechRadar
AI-generated loading screen triggers fan revolt
Over the last few days, however, Anno 117 has become a flashpoint in the industry‑wide debate over generative AI.
- Players noticed a particularly odd loading‑screen illustration with missing limbs, warped hands and other tell‑tale AI artefacts.
- Threads on Reddit’s r/anno and coverage from outlets like PC Gamer and TheGamer argued that the art was clearly AI‑generated and out of step with the Anno series’ reputation for lavish, hand‑painted visuals. PC Gamer
PC Gamer’s report today notes that Ubisoft has now pushed an updated version of the image but says the new art looks very similar, raising questions about how extensively AI may have been used behind the scenes. The article collects comments from fans who say they’re delaying or cancelling purchases because they no longer trust the game’s art pipeline. PC Gamer
A widely shared essay on Aftermath titled “This Is Where My Anno 117 Impressions Were Going To Go” goes even further: writer Luke Plunkett says he stopped playing after learning the loading screen was AI‑generated and questions Ubisoft’s claim that this was an isolated case. Aftermath
Ubisoft’s statement: AI as a “placeholder” and a production tool
In a statement provided to media and reproduced on Reddit, Ubisoft argues that: Reddit
- The problematic loading image was a placeholder asset that accidentally made it into the release build due to a review oversight.
- The studio has assembled its largest art team ever for an Anno game and uses AI tools for “iterations, prototyping, and exploration,” but insists that the final content players experience reflects the team’s craft and creative vision.
- The image will be replaced in an upcoming patch 1.3.
Today, SSBCrack reports that Ubisoft plans to fully replace the AI‑generated loading screen following the backlash, but notes that community concerns go beyond the single illustration. Some players believe AI may also have been used in certain language localisations, which is particularly sensitive given the game’s support from German cultural sponsors. SSBCrack News
Reddit discussions show a split community: some players say they still love the game and find it visually stunning, while others argue that visible AI assets undermine their trust in Ubisoft Mainz and disrespect the painstaking work of human artists on earlier Anno titles. Reddit
For Ubisoft, Anno 117 is now both a critical bright spot in its release slate and a PR test case for how far players are willing to tolerate generative AI in high‑profile games.
Rainbow Six Siege X: Munich Major win, new season and anti-cheat pledge
While the boardroom drama plays out, Ubisoft’s flagship tactical shooter is having a big esports and update moment.
M80 win the R6 Munich Major 2025
At the BLAST R6 Munich Major 2025, North American organisation M80 lifted the trophy after defeating Team Falcons 3–1 in the Grand Final. Esports Insider
Esports Insider’s recap notes that: Esports Insider
- It’s M80’s first international Rainbow Six Siege X title since entering the scene in 2022.
- The team battled through the lower bracket, beating Team Secret, Wildcard and FaZe Clan before taking down Team Falcons in a four‑map final.
- The victory secures M80 a coveted spot at the Six Invitational 2026 in Paris.
For Ubisoft, the result is another proof point that Rainbow Six still has serious competitive momentum a decade after launch.
“Fk ‘em”: devs go hard on cheaters
During the Munich Major, Ubisoft also used the stage to address one of Siege X’s biggest pain points: cheating.
At the Year 10 Season 4 reveal, game director Joshua Mills delivered a blunt message to cheaters—summarised by esports.gg under the headline “R6 developer says ‘fk ’em’ to cheaters.” Esports
According to that report, the team outlined several measures for Operation Tenfold Pursuit, the new season:
- Twice‑weekly security updates to constantly disrupt cheat makers.
- Work with pro players to improve recoil‑script detection and other anti‑cheat tools.
- A renewed focus on keeping the free‑to‑play version of Siege X playable at higher ranks, where cheating has reportedly surged since the June 2025 F2P relaunch. Esports
The message landed well in the arena, but the community reaction remains cautious—players have heard ambitious anti‑cheat promises before, and they’re waiting to see whether the studio can deliver lasting improvements this time.
Operation Tenfold Pursuit test server opens today
A separate update from SiegeGG confirms that the Operation Tenfold Pursuit test server opens on November 17, 2025, giving PC players their first hands‑on look at the final Year 10 season. SiegeGG
The season includes:
- A significant Thatcher rework and balance adjustments to several hard‑breach operators.
- A reworked Fortress map and ranked matchmaking improvements.
- A month‑long 10th anniversary celebration for Rainbow Six Siege, plus a limited‑time game mode and a planned mid‑season patch. SiegeGG
The full release of Operation Tenfold Pursuit is set for December 2, 2025, just as Ubisoft’s Black Friday promotions wrap up. Strafe Esports
Ubisoft Black Friday 2025: deep discounts and a free game
Away from the trading halt, Ubisoft is pushing a major Black Friday 2025 campaign that’s already live and prominently covered across gaming and deals sites.
Up to 90% off – and Immortals Fenyx Rising free
On its official news site, Ubisoft says the Ubisoft Store is offering up to 90% off selected titles from now until December 2, with an additional 20% off the entire cart using the code HOLIDAY20 at checkout. Ubisoft News
Highlights from Ubisoft’s own promo include: Ubisoft News
- Assassin’s Creed Shadows – up to 40% off.
- Star Wars Outlaws – up to 70% off.
- Assassin’s Creed Valhalla – 80% off.
The sale also features a high‑profile giveaway: PC players can claim Immortals Fenyx Rising (standard edition) for free by redeeming the offer on the Ubisoft Store during the promo window—no purchase necessary. Ubisoft News
Third‑party deal roundups flesh out the scale of the discounts. PlayRatedGames, for example, lists: PlayRatedGames
- Assassin’s Creed Shadows reduced from $69.99 to $41.99.
- Assassin’s Creed Valhalla at $12 and Valhalla Complete Edition at $28.
- Assassin’s Creed Mirage at $15.
- Star Wars Outlaws at $21.
- Deep discounts on Far Cry 5, Far Cry 6, The Crew Motorfest, Watch Dogs Complete Edition and more.
XboxEra’s coverage today notes that Ubisoft is also running aggressive Black Friday discounts on console storefronts, with Ubisoft titles like Assassin’s Creed, Star Wars Outlaws and others up to 90% off for Xbox players. XboxEra
Given the current trading suspension and delayed earnings, it’s hard not to see this Black Friday push as doubly important: it monetises the back catalogue during the crucial holiday window and helps set the sales narrative that Ubisoft will eventually present when those postponed results finally land.
How today’s stories fit into Ubisoft’s bigger picture
Put together, today’s Ubisoft headlines build a picture of a company at a crossroads:
- Financially, Ubisoft is in a holding pattern: trading is halted, half‑year results are late, and analysts are openly questioning the strength of its turnaround and governance. Reuters
- Operationally, restructuring continues—job cuts, studio closures and cost‑saving drives collide with a release pipeline that leans heavily on big franchises (Assassin’s Creed, Star Wars, Rainbow Six, Anno). City AM
- Creatively, Anno 117 demonstrates that Ubisoft’s internal teams can still produce ambitious, richly textured games—but also shows how quickly player trust can evaporate when AI content appears in a beloved franchise. Business Today
- In live games and esports, Rainbow Six Siege X remains a major pillar, with a new season, a big Major win, and renewed anti‑cheat promises anchoring long‑term engagement. Esports Insider
- Commercially, Ubisoft is leaning hard into discounts, subscriptions and giveaways to keep players inside its ecosystem during Black Friday and beyond. Ubisoft News
What to watch next this week
Over the coming days, key questions for investors, players and industry watchers include:
- When will Ubisoft finally publish its delayed H1 FY2025–26 results, and what will they reveal about bookings, live‑service performance and the impact of cancellations?
- Will the acquisition rumours gain substance—through leaks, regulatory filings or Ubisoft disclosures—or fade once trading resumes? Tech4Gamers
- How will Ubisoft adjust its AI policies in response to the Anno 117 backlash, and will future titles be more transparent about how generative tools are used? PC Gamer
- Can Rainbow Six Siege X’s new anti‑cheat measures win back high‑ranked players, or will cheaters continue to undermine its free‑to‑play era? Esports
- How effective will the Black Friday campaign be in driving short‑term sales and Ubisoft+ subscriptions during a critical holiday season? Ubisoft News
Ubisoft has spent the last few years promising a more focused, franchise‑driven future under a revamped operating model. As of November 17, 2025, that plan looks both promising and precarious—and the next few days of financial disclosures, community reactions and competitive results will go a long way toward deciding which side of that line the company ultimately lands on.
