No, Universal (formerly Universal Interactive) does not own the Crash Bandicoot franchise. While Universal was the original publisher of the first few games developed by Naughty Dog in the 1990s, the rights eventually transitioned through several corporate mergers. Ownership passed to Vivendi Universal, then to Activision following the Activision-Blizzard merger in 2008. In late 2023, Microsoft (Xbox) officially acquired Activision Blizzard, meaning that as of 2026, Microsoft is the ultimate owner of the Crash Bandicoot IP. While Crash often appeared in Universal Studios theme parks in the past as a mascot, those appearances are now rare and would require a licensing agreement with Microsoft, similar to how Universal licenses characters from Marvel or Nintendo.