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Reddit shares rose 7.24% to $159.36 on October 15, though no single catalyst has been confirmed. The stock remains 30.67% below its 2025 close. Free cash flow over the four quarters through June 30 totalled about $1.02 billion. Its forward market cap to free cash flow multiple fell from around 57x to around 21x in a year. TIKR's mid-case model values the stock at about $326 by December 31, 2030, a potential 104% return. The Street target is about $214. Reddit reports third-quarter results on October 29. It guided adjusted EBITDA to $385 million to $395 million, against consensus of around $397 million.

Xbox expands movie, TV ambitions with new division. The new division, called XP, will grow Xbox's footprint in film, TV, products, events and theme parks. Published Oct 09, 2026, 08:47 AM Updated Oct 09, 2026, 09:41 AM NEW YORK - Microsoft's Xbox unit is formalising its film and TV foray with a new division focused on expanding the video-game giant's franchises into other media. The entertainment division called XP will grow Xbox's footprint in film, TV, products, events and theme parks, Microsoft said in a statement on Oct 8. "Fans don't just play our franchises. They watch them, wear them, attend them, celebrate them and connect with them in countless ways," Kayleen Walters, the group's new president, wrote in an e-mail to her new team, Microsoft said. Walters, who was president of Microsoft's Minecraft unit Mojang, previously worked at Star Wars steward Lucasfilm for 13 years, including as a vice-president of franchise marketing. She was an executive producer on the Minecraft movie, which set box office records and earned US$157 million (S$201 million) its first weekend. Its sequel is in production. Microsoft also on Oct 8 named a new head for Mojang. Maria Angelidou-Smith, who previously worked for social media platform Reddit and tech company Meta Platforms, will become the unit's chief executive in October. A Minecraft theme park is set to open in London in 2027. Although not a social network like those two companies, Minecraft does let people express themselves, crafting items in the game. Tens of millions of people play Minecraft every day. It has sold more than 300 million copies. Microsoft's ambitions in entertainment remain strong, after mass layoffs and studio spin-outs to sharpen the focus of its gaming arm. Xbox's Fallout TV show (2024 to present) has seen major success. Amazon.com's Prime Video, where the show airs, reported that 100 million people watched at least a little of the series, which was just renewed for a third season.

Xbox announces new XP division to deliver transmedia spinoffs including film, TV, and theme parks. The division will be led by former Mojang president Kayleen Walters, who will be replaced by Reddit's Maria Angelidou-Smith News by Jon Hicks Editorial Director Published on Oct 8, 2026, 5:18 AM PDT Xbox has announced a new XP business unit, dedicated to transmedia brand extensions, including the Fallout TV series and the Minecraft World theme park. The new enterprise will be led by Kayleen Walters, the current president of Minecraft developer Mojang Studios, who previously spent eight years overseeing franchise development at Microsoft. Before joining Microsoft, she spent 13 years at Lucasfilm, rising to become vice president of franchise marketing and integrated planning. Walters was appointed as head of Mojang Studios in February, replacing outgoing head Åsa Bredin, who stepped down to "focus on personal goals outside of work." Walters will be replaced as president of Mojang by Maria Angelidou-Smith, who joins the Xbox division from Reddit, where she was chief product officer. Previously, she spent nearly a decade at Facebook. The XP division will focus on four areas: Xbox Pictures for film and television adaptations, Xbox Products for licensing and merchandise, Xbox Partnerships for sponsors and brand partners, and Xbox Places for broadcast and in-person events, theme parks, and other location-based experiences. In an email sent to Xbox employees this morning, Xbox head Asha Sharma said that the firm's franchises "mean more to people than the time they spend playing them, and Kayleen knows how to build those experiences with the industry without losing what made people care about the franchise in the first place." On Angelidou-Smith's appointment, Sharma said: "We wanted someone who has built products for communities at enormous scale, who is deeply technical, and who understands how creators, product, technology, and monetization come together. Maria brings a rare combination of those experiences." At the recent Minecraft Live event in September, it was announced that the Minecraft World destination will open at UK theme park Chessington World of Adventures in 2027. Microsoft entered a deal with Chessington owner Merlin Entertainments in 2024, with Merlin investing more than $110 million in two Minecraft-themed attractions. "We are everywhere digitally, Merlin is everywhere physically," said Walters at the time of the deal. "It's about how do we expand Minecraft beyond the game. Mojang and Microsoft are experts on Minecraft and the brand, Merlin are the experts on location-based experiences; it's a shared vision." Walters was executive producer of A Minecraft Movie in 2025, which generated $550 million after ten days in theatres. A sequel has been greenlit for July 23, 2027. Microsoft's new XP business unit will also oversee the Fallout TV series, which has been a hit for Amazon Prime Video, and has driven increased sales of the franchise's back catalogue, along with a player uptick in mobile title Fallout Shelter. The Halo TV series was less successful, lasting only two seasons on Paramount+ before being cancelled in 2024. A Gears of War movie that will "tell the origin story of Delta Squad" is currently in development at Netflix. The announcement of the new XP division is the latest in a long list of changes in Microsoft's gaming portfolio. Sharma announced a "reset" earlier this year, which has led to the loss of around 3,200 jobs and the divestment of five studios. But GamesIndustry.biz contributing editor Rob Fahey has questioned where the reset is going: "Nobody has yet deigned to outline a clear vision for what Xbox will actually look like after this reset," he said.