Remedy Entertainment Acquires Full Rights to the Control Franchise from 505 Games
Yesterday, Remedy Entertainment Plc ("Remedy") and 505 Games S.p.A. ("505 Games") announce a transaction upon which all publishing, distribution, marketing and other rights to Control, codename Condor, Control 2, and all future Control products will revert to Remedy. The Control franchise is in the core of Remedy. Having acquired the full rights to Control, Condor and Control 2, Remedy is now in a position to make the right product and business decisions focusing on long-term franchise growth.
The transaction has no immediate effect on the income statement, while we see attractive growth opportunities arising in the mid-to-long term. 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.
The transaction has no immediate effect on the income statement, while we see attractive growth opportunities arising in the mid-to-long term. 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.