Embracer Group plans to split into two public companies. The new entity, Fellowship Entertainment, will take over major franchises including Tomb Raider and The Lord of the Rings.
Fellowship Entertainment to manage key franchises
Fellowship will form a new IP licensing business unit to increase revenue through external partnerships. Embracer will more actively explore external partnerships for franchises such as Saints Row, Legacy of Kain, Deus Ex, Red Faction, The Mask, Thief, and TimeSplitters.
Embracer CEO Lars Wingefors said the company sees great potential to invest capital and form new partnerships for AAA IPs like Kingdom Come: Deliverance, Dead Island, Darksiders, Remnant, and the licensed Metro series. For other well-known IPs, Embracer will more actively seek external partnerships.
Previously, Embracer cancelled a TimeSplitters reboot and closed Saints Row developer Volition. The company also reportedly cancelled a Deus Ex game. The restructuring signals a shift toward licensing rather than internal development for many of its franchises.
Embracer has not confirmed a timeline for the split or specific partnership deals. The plans were reported by Videogameschronicle.com.
Source: VideoGameChronicles