Claude Guillemot, one of the five brothers who founded Ubisoft in 1986, has been killed in a plane crash in western France, the video game company confirmed. He was 69.

What Happened

On Friday, June 19, Guillemot was flying in a Cessna 421 twin-engine propeller aircraft that crashed in a field near the La Baule aerodrome in the Loire-Atlantique region of France. The circumstances of the crash are not entirely clear, but two fatalities were confirmed: Guillemot and a flight instructor from Rennes.

According to Ouest-France, the aircraft had departed from Rennes and crashed during its approach to the La Baule aerodrome, killing both passengers on board. The mayor of La Baule, Franck Louvrier, described the moments leading up to the crash. “It was a Cessna 421, a twin-engine propeller, with eight seats… The plane was on approach for the landing phase, when, according to witnesses, it made a turn and crashed,” Louvrier said.

Citing a source close to the investigation, one outlet reported that Guillemot was at the plane’s controls at the time of the crash.

A Delayed Identification Amid a Fire

The identification of the victims was complicated by the severity of the crash itself. Per reports, identification was delayed due to the nature of the crash, with the plane being ablaze when emergency services reached the crash site. According to one report, the aircraft burst into flames upon crashing, setting fire to several football fields’ worth of vegetation.

The scale of the emergency response reflected the severity of the incident. Emergency services launched a major response, deploying 63 firefighters and 29 specialized vehicles to the crash site. One report noted that 60 firefighters and 30 ambulances were mobilized in an attempt to tackle the blaze and search for a potential third victim, although fire and rescue officials stated that the search proved to be “futile.”

Guillemot’s family was informed of the tragic news the evening of the crash, several hours after it occurred.

Guillemot Was the Plane’s Owner

It was explained that Guillemot was the owner of the plane that crashed, and that he was on board with a flight instructor, who also died in the crash. Guillemot was also reported to be a member of the La Baule flying club.

According to multiple reports, Guillemot had been expected in La Baule that weekend for a gathering of more than 100 aircraft, an aviation enthusiasts’ event he was traveling to attend at the time of the crash.

An Investigation Now Underway

French authorities and aviation investigators have opened an inquiry to determine the cause of the crash. As of the most recent reporting, the precise cause of the accident has not been officially determined.

A Tribute From Ubisoft

The company Guillemot helped found nearly four decades ago issued a formal statement confirming his death. “Ubisoft has learned with profound sadness of the death of Claude Guillemot, co-founder of the Group and Chairman of Guillemot Corporation, in an accident,” the company said in a statement. “Our thoughts are with his family and loved ones during this difficult time,” Ubisoft added, noting that “no further communication will be made at this stage.”

Flags Lowered in Tribute

In a further sign of mourning tied to the crash, flags were flown at half-mast at the La Baule aerodrome on June 20, as a tribute to both victims of the accident.

Guillemot’s Role at Ubisoft

Claude was one of five brothers who co-founded Ubisoft in 1986. He started the company alongside Christian, Gérard, Michel, and Yves Guillemot. In company documentation, Ubisoft described Claude’s role: he sat on Ubisoft’s Board and served as Executive Vice-President in charge of operations. “He provides entrepreneurial spirit to the Ubisoft Board, as well as his international experience of Asia, where he lived, and his in-depth knowledge of gaming technologies for PCs, consoles and accessories,” the company’s documentation stated.

At the time of his passing, Claude Guillemot was also the Chairman and Chief Executive Officer of Guillemot Corporation, the family-founded company specializing in audio and gaming hardware that predated Ubisoft’s creation.

The Origins of the Guillemot Brothers’ Business Empire

The path that led the five Guillemot brothers to found one of the world’s largest video game publishers began in an entirely different industry. In the early 1980s, the Guillemot family ran a successful agricultural supply business in France’s Brittany region. However, as the five brothers — Claude, Christian, Gérard, Michel, and Yves — returned home from university with business degrees, they sought to diversify into the burgeoning electronics market.

Claude initially experimented with selling audio CDs, but the brothers quickly recognized a much more lucrative frontier in the rapidly expanding home computing market. Realizing that importing hardware and software from the UK and U.S. was incredibly expensive for French consumers, they pooled their resources and established Guillemot Informatique, a mail-order business dedicated to selling affordable computer software and hardware components. By cutting out traditional middlemen, the brothers quickly turned their regional startup into a national success, setting the stage for their eventual leap into video game development and the creation of Ubisoft.

A Company Built on Major Gaming Franchises

In the decades since its inception, Ubisoft has been responsible for numerous hit franchises, including Rayman, Assassin’s Creed, Far Cry, and Anno. To gamers, Ubisoft CEO Yves Guillemot is perhaps the best-known member of the Guillemot family, but Claude played a vital role in the company’s success throughout its history, overseeing operational functions that helped the publisher grow into one of the largest names in the global video game industry.

With the investigation into the cause of the crash still underway, French aviation authorities are expected to provide further details in the coming days and weeks as the inquiry progresses. Ubisoft has indicated it does not plan further public statements regarding Guillemot’s death at this stage, leaving the company’s earlier tribute as its primary public acknowledgment of the loss of one of its five founding brothers, whose work helped build the foundation of one of the gaming industry’s most influential publishers.

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WASHINGTON — The national average for a gallon of regular gasoline stood at $3.9510 as of Saturday, June 20, according to AAA, marking a slight pullback from the conflict-driven highs seen earlier this spring but leaving drivers still paying significantly more than they did a year ago.

A Sharp Climb Since February

The current price reflects the lingering effects of months of volatility tied to the conflict between the U.S., Israel, and Iran, which sent crude oil prices soaring and disrupted the Strait of Hormuz, one of the world’s most critical oil shipping routes. The national average for a gallon of regular gasoline went up 10 cents from one week and one dollar since the prior month at one point during the conflict, with prices climbing from $2.98 on February 26 to roughly $3.98 by late March. The national average could reach $4 a gallon in the coming days for the first time since August 2022, AAA had warned at the time — a threshold the national average ultimately did cross in early April.

Gas prices subsequently peaked even higher as the conflict intensified. Gas prices were up roughly 54% higher than they were on February 26, 2026, when the average sat at $2.96, with prices peaking at $4.55 per gallon on May 21, 2026, before beginning their more recent gradual decline.

Year-Over-Year Increases Across Nearly Every State

The broader pattern of rising gas prices has affected nearly the entire country over the past 12 months, though the severity of those increases has varied dramatically from state to state. Average gas prices increased by double digits in every state except one between June 16, 2025, and June 16, 2026. The average gas price increased the most in New Hampshire, rising 41.9% from $2.91 to $4.13 per gallon, followed by New York and Vermont, both up 39.3%, where prices rose from $3.11 and $3.07 to $4.34 and $4.28, respectively.

California also posted a substantial year-over-year increase, with prices rising 22.7% from $4.66 to $5.71, followed by Maryland, where prices rose 24.7% from $3.06 to $3.82.

Indiana Stands Out as the Exception

Amid the broad nationwide trend of rising prices, one state has bucked the pattern significantly. Average gas prices increased the least in Indiana between June 16, 2025, and June 16, 2026, with prices there rising just 6.4%, from $3.16 to $3.36 per gallon — by far the smallest year-over-year increase recorded anywhere in the country.

Where Gas Is Most and Least Expensive Right Now

As of June 16, 2026, the highest average gas price nationwide was in California at $5.71 per gallon, followed by Hawaii at $5.58 and Washington at $5.49. Four states had average gas prices above $5.00 per gallon.

At the other end of the spectrum, Indiana had the lowest average gas price at $3.36 per gallon, followed by Texas at $3.50 and Oklahoma at $3.53 — illustrating the wide geographic disparity that continues to define gasoline pricing across the country even amid a broadly elevated national average.

The Role of the Strait of Hormuz

Much of the volatility behind this year’s gas price swings traces directly back to disruptions in one of the world’s most important oil shipping corridors. Roughly 20% of the world’s daily oil supply passes through the Strait of Hormuz, a narrow waterway between Iran and Oman. When shipping through the strait is threatened or disrupted, global oil traders price in the risk immediately, even before any physical shortage appears. Since crude oil is priced on a global market, a disruption anywhere impacts prices everywhere — a dynamic that played out repeatedly throughout the conflict as fighting periodically closed or threatened to close the strait.

Demand Factors Compounding the Price Pressure

Beyond the geopolitical disruption, ordinary seasonal demand patterns have also contributed to elevated prices throughout the year. Gasoline demand increased during the spring as the driving season ramped up, with the Energy Information Administration reporting gasoline demand climbing from 8.72 million barrels per day to 8.92 million at one point, even as total domestic gasoline supply simultaneously decreased — a combination that tends to put further upward pressure on pump prices regardless of crude oil costs alone.

How This Compares to Recent History

The current $3.95 national average places this year’s gas prices well above the levels drivers experienced for most of the prior decade. Over the past eight years, the price of gas has averaged $3.04 per gallon, roughly a dollar less expensive than the current national average. The most expensive weekly national average recorded since 2018 was $4.99 per gallon, set the week of June 16, 2022, while the cheapest weekly national average over that same period was $1.84 per gallon, recorded on April 16, 2020, during the early stages of the COVID-19 pandemic when demand collapsed.

Tips for Drivers Looking to Save

For drivers looking to minimize the impact of currently elevated prices, several practical strategies remain available. Apps and websites like AAA, GasBuddy, and Google Maps show real-time prices at stations in a given area, allowing drivers to compare costs before filling up. Membership warehouses like Costco and Sam’s Club often have the lowest prices in a given area but require a membership, while some credit cards also offer bonus rewards on gas purchases, which can effectively reduce the price per gallon for everyday purchases.

With the national average now sitting just below the $4 mark after peaking above $4.50 in May, the trajectory of gas prices in the coming weeks will likely depend heavily on the durability of the recent ceasefire arrangements between the U.S. and Iran and the consistency of oil tanker traffic through the Strait of Hormuz. Should that de-escalation hold and shipping continue normalizing through the strait, drivers may see further gradual relief at the pump in the weeks ahead. However, given the scale of the price swings already seen this year — from below $3 in February to above $4.50 in May — continued volatility remains a real possibility depending on how the broader geopolitical and seasonal demand picture evolves through the remainder of the summer driving season.

Get ahead of the market by subscribing to Seeking Alpha’s Wall Street Week Ahead, a preview of key events scheduled for the coming week. The newsletter keeps you informed of the biggest stories set to make headlines, including upcoming IPOs, investor days, earnings reports, and conference presentations.

Wall Street’s major averages rebounded on Thursday after investors moved on from the selloff led by the Federal Reserve’s new hawkish policy. The FOMC held the federal funds rate target unchanged at 3.50%-3.75% on Wednesday, as widely expected. In tech news, President Donald Trump announced Intel (INTC) will partner with Apple (AAPL) to design chips in the U.S. Shares of the semiconductor giant were +8.5%. Other chip names were also higher.

On the economic front, the coming week has a light schedule with no major data expected on Monday and Friday. On Tuesday, S&P Global PMI numbers for June will be released. New home sales data for May, crude oil inventories numbers are due on Wednesday. A series of data, including the PCE price index for May, quarterly GDP numbers, and jobless claims data, is scheduled for Thursday.

FedEx (FDX) and Micron (MU) are the only major companies reporting next week.

_______________________________________________________________

Earnings spotlight: Tuesday: FedEx, Carnival Corp (CCL). See the full earnings calendar.

Earnings spotlight: Wednesday: Micron. See the full earnings calendar.

Volatility watch: Micron and Cboe Global Markets (CBOE) have seen options volatility increase over the last week. The most overbought stocks per their 14-day relative strength index include Outlook Therapeutics (OTLK), CoreCivic (CXW), and Jerash Holdings (JRSH). The most oversold stocks per their 14-day Relative Strength Index include Avalanche Treasury (AVAT) and Context Therapeutics (CNTX). Short interest is elevated once again on Lucid Group (LCID) and Sphere

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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Three Democratic senators have urged the Federal Communications Commission (FCC) to put the Paramount-Warner Bros. Discovery merger on pause over concerns about foreign investors controlling what would be one of the largest media companies in the United States.

In a joint letter to FCC Chairman Brendan Carr, Sens. Cory Booker, D- N.J., Adam Schiff, D-Calif., and Elizabeth Warren, D-Mass., demanded he “must foreclose any attempt by Paramount to close this transaction” before an adequate review of the involved foreign investors is completed.

The lawmakers said the FCC must conduct this review to evaluate possible “national security threats posed by foreign government investment” in the $110 billion entity. If approved, the merger would bring CNN and CBS News under one corporate owner, further consolidating the news media landscape.

Paramount, led by CEO David Ellison, acknowledged in an April financial disclosure cited by the senators that foreign ownership in the new corporation will rise to “approximately 49.5 percent.” In that document, Paramount also said that all voting rights will be “controlled by the Ellison family through U.S. entities.”

WARNER BROS DISCOVERY SHAREHOLDERS APPROVE PARAMOUNT SKYDANCE DEAL

U.S. Sen. Cory Booker, D-N.J., speaks at the 38th Annual Michigan Democratic Women’s Caucus Legacy Luncheon on April 18, 2026, in Detroit, Michigan. (Bill Pugliano/Getty Images / Getty Images)

The document revealed that Saudi Arabia’s public investment fund and various entities based in the United Arab Emirates and Qatar would be equity holders.

Paramount told the FCC in April that this arrangement would not present “any national security, law enforcement, or foreign or trade policy concerns.”

The senators want a more rigorous check of what this level of foreign ownership would mean, telling Carr in their letter that he should not take the Ellison family’s statements “at face value.”

They argued that the FCC should reject Paramount’s petition for preemptive approval. Under Section 310 of the 1934 Communications Act, foreign individuals, companies and governments are generally prohibited from owning more than 25% of a U.S.-based firm that has an FCC-issued broadcast license.

The Paramount Studios sign in Los Angeles, California, on April 23, 2026. (Noah Suave / Getty Images)

CHRISTIANE AMANPOUR POINTS TO ‘HEMORRHAGING’ AT CBS TO WARN OF DAVID ELLISON’S POTENTIAL TAKEOVER AT CNN

Booker, Schiff and Warren gave Carr a July 1 deadline to notify Paramount that the deal cannot close until the foreign investment review is completed.

The FCC’s pending approval is the largest regulatory hurdle in the way of the merger. The Department of Justice signaled last week it would not challenge Paramount’s bid to acquire Warner Bros.

The DOJ’s antitrust division concluded after an eight-month review that “the transaction is not likely to result in harm to competition or American consumers” with regard to on-demand streaming, linear television and studio development, and the production and distribution of films.

Warren criticized this decision by the DOJ and urged state attorneys general to continue fighting the transaction. California Attorney General Rob Bonta was already leading a coalition of states in preparing a lawsuit to block Paramount from adding Warner Bros. to its growing portfolio.

Federal Communications Commission Chairman Brendan Carr speaks onstage during the 2025 Concordia Annual Summit at the Sheraton New York Times Square in New York City on Sept. 22, 2025. (John Lamparski/Getty Images for Concordia Annual Summit / Getty Images)

GET FOX BUSINESS ON THE GO

More than 5,000 filmmakers and actors working in Hollywood signed an open letter in April furiously demanding that the merger be stopped. They argued that it would stifle competition and reduce job opportunities.

“Our industry is already under severe strain, in large part due to prior waves of consolidation. We have witnessed a steep decline in the number of films produced and released,” according to the petition. “We are deeply concerned by indications of support for this merger that prioritize the interests of a small group of powerful stakeholders over the broader public good.”