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Remedy acquires all rights to the Control franchise

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A Remedy Entertainment announced changes to its business relationship with the publisher 505 Games. The company acquired all rights to the franchise Controlwhich also includes the project codenamed Condor It is Control 2. The information was released in an official statement.

With the transaction, the producer now has full creative control over the IP. This also includes all distribution planning, marketing strategies, product and business decisions, and everything involving the future of the series.

Below is a summary of what was agreed, according to the statement.

  • Termination of agreements — 505 Games will continue as Control's publisher until December 31, 2024. After that, Remedy regains all publishing and distribution rights to the Control franchise and also to the project codenamed Condor.
  • Rights review — For Control 2 and the Condor project, all publishing, distribution, marketing and other licensed rights from 505 Games revert to Remedy with immediate effect.
  • Agreement values ​​— the maximum value of the transition is US$17 million, which corresponds to everything that 505 Games has invested, to date, in Control 2 and Condor.

Remedy wants better opportunities for Control in the future

Much of the motivation for this change between the two companies is due to the fact that Remedy wants better business opportunities for Control, one of its main franchises. Alan Wake is another series owned by the company.

This transaction will allow us to negotiate better deals for current and future Control games. We can now consider self-publishing options or find a new partner for Control 2 and Condor. (…) We are in a better negotiating position than before, as Control is an established brand and Alan Wake 2 has been a success. (…) We will evaluate and negotiate with potential future partners in the coming months.

Available for PS4 and PS5, as well as other platforms, Control has sold more than 4 million units. The game generated more than 100 million euros in revenue for Remedy and 505 Games.

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For those looking forward to Control 2 and curious about the Condor project, Remedy's CEO, Tero Virtalla, guarantees that both games are progressing very well in production.

Condor and Control 2 have progressed well in recent months and we expect these projects to reach their next stages of development during the first half of 2024. Development on both will continue as normal while we decide on the best publishing, distribution and financing model for them.

Now, just wait for updates on the development of both games.

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