Today, on February 28, nearly five years after Control’s initial launch, Remedy Entertainment, the team behind the Alan Wake, Quantum Break, and Control series, released an announcement regarding a deal between them and 505 Games, detailing a full transition to Remedy acquiring full rights to the franchise. 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, Control 2, and their upcoming multiplayer game currently under the code Condor.
According to the announcement, the transaction key terms detail that 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’s development cycle. Remedy will pay the purchase price over the next 12 months; otherwise, the transaction isn’t planned to affect the company’s income statements immediately.
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.”
