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Remedy acquires full rights to the Control franchise from 505 games for €17m

Ryuichi Naruhodo

Ryuichi Naruhodo

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The key terms of the transaction are as follows:
  • Termination of Agreements: Publishing agreements for Control, codename Condor, and Control 2 are immediately terminated by mutual agreement.

  • Reversion of Rights: For Control 2 and codename Condor, all publishing, distribution, marketing, and other rights licensed to 505 Games revert to Remedy with immediate effect. 505 Games will continue as the publisher of Control through a transition period ending December 31, 2024, under the terms of the original Control publishing agreement. In addition, 505 Games continues to administrate existing B2B deals for Control until their agreed expiration dates. After the transition period and the expiry of these B2B deals, 505 Games will have no future royalty or other rights to Control.

  • Purchase Price and Cash Flow Effect: The maximum purchase price for the transaction is approximately EUR 17 million, which equals the amount that 505 Games has paid for the development of codename Condor and Control 2 to date including a minor premium. Remedy is entitled to set off certain receivables from the purchase price and, therefore, the cash flow effect from the transaction will be clearly less than the purchase price. Remedy will pay the net purchase price in three cash instalments during the next twelve months.
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This transaction will enable us to negotiate better deals for current and future Control games. We can now weigh up the options between self-publishing and a new publishing partner for Condor and Control 2. At the same time, we are in a better negotiating position than before as Control is an established brand and Alan Wake 2 has been successful. We are confident that these factors combined will enable us to get the right partner, deal structure and risk-reward profile that benefit Remedy and are the best fit for the Control franchise. We will evaluate and negotiate with potential future partners over the coming months.
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https://investors.remedygames.com/a...ghts-to-the-control-franchise-from-505-games/
 
Really happy for Remedy, but this sucks big time for 505, it was the one big singleplayer franchise they (partially) owned. It's really sad seing how bad of a turnaround they had in a year, Crime Boss was awful and flopped, Ghostrunner 2 underperformed and now this. They also have Eyiunden Chronicles on the horizon and I fear that might also underperform. I hope things turn around for Pay Day, otherwhise I don't see them coming back from this.
 
17m seems like very very little. although it was extremely hyped control wasnt a big seller so that fits.

i much prefer the quantum break or alan wake game asthetic for the remedy formula. which is tiresome to me. control just seemed like wow, set in cubicles lol.
 
salesguy said:
17m seems like very very little. although it was extremely hyped control wasnt a big seller so that fits.

i much prefer the quantum break or alan wake game asthetic for the remedy formula. which is tiresome to me. control just seemed like wow, set in cubicles lol.
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As per the recent sales report on Alan Wake 2, Control generated a bit more than 100M in revenue. I read one of Digital Bros (505's parent company) most recent financial reports and they co-owned the IP.

The same report claimed that the planned budget for Condor was 25M and 50M for Control 2, so Remedy is either very confident on the cashflow from the AW2 DLC or they need a lot of money from the next publisher.
 

505 Games is shutting down their offices on France, Spain and Germany​


www.gamereactor.es

Más recortes en Digital Bros: ¿afectarán a Assetto Corsa 2 o Project Iron?

A diferencia del recorte en desarrollo de noviembre, este se refiere a marketing, comunicación y presencia internacional.
www.gamereactor.es www.gamereactor.es

As Gamereactor has learned, and as EA, Activision or 2K Games did in recent years, 505 Games is left without local representation in its subsidiaries in the old continent. This means that, apart from the Milanese headquarters and preserving the British company given its operational difference, Germany, Spain and France will close (some after more than 15 years of activity) and cancel their work, mainly in marketing, communication and relations.

The number of employees affected is not as large as last year's (less than 10 people), but it does mean the important loss of direct territorial relations, a move that other publishers have already made with dubious results.
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master94ga said:
Owing the IP doesn't necessarily mean self-publishing, as seen with Alan Wake 2 but there are plenty of the example in the industry.
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well yes, but at that point you wouldn't have "full control" on your IP, dealing with other publishers

Remember_spinal said:

505 Games is shutting down their offices on France, Spain and Germany​


www.gamereactor.es

Más recortes en Digital Bros: ¿afectarán a Assetto Corsa 2 o Project Iron?

A diferencia del recorte en desarrollo de noviembre, este se refiere a marketing, comunicación y presencia internacional.
www.gamereactor.es www.gamereactor.es
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well...damn.
this "survive 2024" wasn't a joke
 
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