Remedi acquired all the rights to the Control game series
By paying 17 million Euros, Remedy Studio took full control of Control's advertising, publishing and distribution.
Remedy Entertainment announced that it has bought all the rights to the Control game from 505 Games for 17 million euros. Remedi will take over the publishing, distribution, advertising and other rights of this game collection. 505 Games will continue to publish Control until 11th of December 31, 2024, but after this date, it will not benefit from this collection.
The amount of 17 million euros is the same amount that 505 games paid for the development of the Condor project and the second version of the controller. Ramdi emphasized that this contract "will not have any immediate impact on the profit and loss statement and the opportunities for economic growth in the long term."
Studio Remedy stated: "This deal allows us to explore opportunities and better deals for current and future games on the console. We can now evaluate the release of Condor and Control 2 games by ourselves or another collaboration. At the same time, with the increasing reputation of the Control brand and the success of Alan Wake 2, we are in a better position to negotiate than before.
We are confident that the combination of these factors will lead to finding the right partner, contractual principles and risk-benefit ratio chart that will benefit Remedi and the control group. In the coming months, we will evaluate and negotiate with our possible future partners. According to this deal, we will directly control the process of advertising, distribution and other commercial contracts.
The studio further added: "Such a situation opens up more opportunities for investment and cooperation that will help us in the process of development and progress of the Condor project, Control 2 and making the control suite a great success."
Remedy CEO Tru Virtala said the studio had a "good collaboration" with 505 Games in the development of Control, which sold 4 million copies of the game, but acquiring the rights to Control was part of a "long-term strategy to gain more ownership of the game." business and created IPs. In this regard, he stated: "Having full ownership of the control complex allows us to make better and freer decisions about the future of this complex." "Considering the attractiveness of the collection to many colleagues, we will carefully consider different options."
The development of the second version of the Condor control and project will continue. Also, Tru Virtala emphasized that both games will enter the next stage of development in the first half of 2024. Virtala continued: "With the amicable parting of the ways of Remedy and 505 Games, I would like to take this opportunity to thank them for their cooperation and help in making Control and turning the game into a high-potential work over the years."
The next profit and loss summary report of Remedy Entertainment Studio will be done on March 20, 2024; So fans can look forward to the release of more details of their upcoming projects.
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