Nintendo seems extremely serious about the security of the Nintendo Switch 2, going so far as to create a codename for the system's actual codename.
29.04.2024 - 17:31 / videogameschronicle.com / Kyle Rowley / Sam Lake / Tero Virtala / Tom Ivan
Tencent has significantly increased its shareholding in Remedy Entertainment.
The world’s largest gaming publisher now holds 2,005,716 shares in the Alan Wake and Control maker, corresponding to 14.8 percent of the Finish company’s shares and voting rights.
The Chinese tech giant originally acquired 3.8% of shares in Remedy in May 2021, and had increased its stake to 5.01% as of November 2022.
Tencent is scheduled to publish an upcoming Remedy game, Codename Kestrel, which is currently in the “concept stage” after being rebooted last year.
Previously designed as a free-to-play game, Remedy has said it will now be a “premium game with a strong, co-operative multiplayer component”.
Providing an update on the status of the studio’s in development projects last month, Remedy CEO Tero Virtala said players should expect a “more regular cadence of sequels” for Alan Wake and Control.
After struggling for over a decade to make a sequel to 2010’s original, Alan Wake 2 was finally released last October, while a sequel to 2019’s Control is currently in development.
Remedy is also working on Codename Condor, a co-operative multiplayer game set in the Control universe, and Max Payne 1 & 2 Remake. It said today that Condor has entered full production.
Tencent has reportedly delayed the release of Assassin’s Creed Jade from this year to 2025.
That’s according to Reuters sources, who claimed last month that Tencent had redeployed hundreds of developers who had been working on the free-to-play mobile game as part of a wider strategy shift.
Nintendo seems extremely serious about the security of the Nintendo Switch 2, going so far as to create a codename for the system's actual codename.
AMD's Zen 5 CPUs are rumored to feature an IPC increase of around 10% with the latest core architecture.
Tencent and Remedy, the developer of Control and Alan Wake, have completely scrapped their joint gaming project codenamed Kestrel, which they have been working on since 2021. The companies were originally developing a free-to-play co-op shooter until they decided to go in a different direction in November last year. They went back to the drawing board, renamed their project from Vanguard to Kestrel and had planned to make a «premium game with a strong, cooperative multiplayer component» instead. Back then, they said their game will «lean more into Remedy's core strengths» and will use repurposed versions of the company's assets and themes. Clearly, though, their partnership wasn't meant to be.
Remedy have called it quits on the project codenamed Kestrel. The co-op multiplayer game was an original IP being made with the backing of Tencent, but now Remedy say they've cancelled it to allow them to focus on "other games in our portfolio", all of which are based on "existing franchises".
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Today, Finnish developer Remedy Entertainment decided jointly with Tencent to cancel the cooperative multiplayer game they were developing.
Remedy has announced the cancellation of its multiplayer title codenamed Kestrel in order to focus on its existing franchises.
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Despite the love it received from core gamers and critics alike, Remedy's recent effort, Alan Wake 2, has yet to make back its development and marketing budget. This surprising situation has plenty of contributing factors, which we first covered in December, but the reality is that sales are soft. No doubt striking while the irons are hot, Chinese multinational holding company Tencent, the largest video game company in the world, has increased its stake in the Finnish developer from 5% to 15%, securing additional shares and voting rights.
Despite being one of the most successful games released by Remedy Entertainment, Alan Wake II still hasn't recouped its expenses, according to a new financial report.
Chinese tech and entertainment giant Tencent has increased its stake in Finnish games firm Remedy.