Pokemon Go Maker Niantic Closes Studio, Cancels Games
Pokemon Go maker Niantic Inc. is closing its Los Angeles game studio and canceling NBA and Marvel titles in a restructuring aimed at stabilizing the company's finances.“We have allowed our expenses to grow faster than revenue,” Chief Executive Officer John Hanke wrote in an email to employees. “New projects in games and platform have not delivered revenues commensurate with those investments.” The closely held San Francisco-based metaverse darling said it will shut down its NBA All-World game and halt work on the…