In a move we’ve long awaited, Remedy Entertainment has acquired full rights to the Control franchise from 505 Games. This transaction encompasses all aspects of publishing, distribution, marketing, and future development of Control, codename Condor, and Control 2.
All rights previously licensed to 505 Games revert to Remedy, with 505 Games continuing as the publisher of Control during a transition period until 31 December 2024. Afterwards, 505 Games will no longer hold any future royalty or rights to the franchise.
The Control franchise holds a central position within Remedy’s portfolio, and this acquisition marks a strategic shift towards long-term franchise growth. Under the terms of the agreement, Remedy gains complete control (hehe) over the franchise, allowing for more autonomy in decision-making regarding product development and future games.
The transaction, valued at approximately €17 million, reflects Remedy’s efforts to secure ownership over one of their most beloved video game series. We reported on Control 2 coming in the near future, which has a €50 million initial development budget. The game is still in its early concept stage, so we probably can’t expect to learn substantial gameplay or story details for a while.
CEO of Remedy, Tero Virtala, expressed enthusiasm about the acquisition, highlighting Control’s success as a pivotal factor in the decision. He emphasised the freedom this ownership provides in determining the franchise’s future. Virtala also extended gratitude to the 505 Games team for their partnership in establishing Control as a thriving gaming franchise.
Looking ahead, and considering the immense success of Alan Wake 2, we hope to see the developers take full advantage of the universe. There are plenty of stories and twisted worlds to explore that we hope this acquisition allows for creative control of now.
