Remedy Entertainment buys Control series rights from 505 Games for €17m
House keeping.
Alan Wake developer Remedy Entertainment has announced it's acquired the full rights to its Control series from publisher 505 Games for €17m.
As detailed in an investor announcement on Remedy's website, the rights acquisition - which includes those for publishing, distribution, and marketing - cover the full Control franchise, including the supernatural third-person shooter's 2019 debut game, the upcoming Control 2 and multiplayer spin-off codenamed Condor, and all future titles in the series.
Remedy's publishing agreement with 505 Games for Control 2 and Condor terminates immediately, and 505 will continue to serve as the publisher of Control until 31st December this year, when the transition period ends.
Remedy's acquisition announcement notes the approximately €17m it's forking out for the rights to Control "equals the amount that 505 Games has paid for the development of codename Condor and Control 2 to date including a minor premium". The net purchase price will be paid in three cash instalments over the next 12 months.
Today's announcement does, of course, feel like a little bit of history repeating; back in 2019 Remedy revealed it had come to an agreement with Microsoft to acquire the rights to Alan Wake for €2.5 million - a move that resulted in the former Xbox-exclusive jumping to other platforms before getting the remaster treatment and, last year, a long-awaited sequel.
As for Control 2 and project Condor, both were announced back in November 2022. They are, however, likely still some significant way off, with Control 2 confirmed to be in the "proof-of-concept" stage last October, while Condor was said to have "progressed into the production readiness stage" - as had Remedy's Max Payne 1 and 2 remakes.