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Remedy acquires full rights to the Control franchise from 505
28.02.2024 - 18:49 / destructoid.com
Today, nearly five years after Control first launched, Remedy has announced it’s fully acquired the rights to the franchise. The studio has acquired full rights from publisher 505 Games, for roughly €17M.
While Remedy Entertainment previously developed the game with 505 Games having publishing, distribution, and marketing rights over Control, this latest transaction converts this authority to Remedy, giving them full rights over Control, as well as the upcoming Control 2 and the multiplayer game currently under the codename Condor.
According to the announcement, publishing agreements for all three games are “immediately terminated by mutual agreement”, outside 505 Games continuing as Control’s publisher until December 31, 2024. Publishing, distribution, marketing, and other rights are also completely reverted to Remedy “with immediate effect.”
Remedy’s announcement also reveals the maximum purchase price of this exchange to be approximately EUR 17 million, equaling the amount 505 Games paid for Condor and Control 2‘s development cycle thus far, plus a premium. Remedy will pay the purchase price over the next 12 months.
In doing this, Remedy Entertainment will “be more directly in charge of marketing, distribution and other business-to-business deals”. The post continues to highlight Remedy’s plans to have complete control over Control and Condor, detailing that the transaction “enables further financing and partnership opportunities which will help us to grow the Control 2 and Condor, as well as the whole Control franchise into an even greater success than before.”
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