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Embracer Group to Split Into Two Companies by 2027, Spinning Off Tomb Raider and Lord of the Rings

Simon Ellis 0 comments 1 min read

Embracer Group plans to split into two public companies by 2027. Fellowship Entertainment will manage major IPs including Tomb Raider and The Lord of the Rings.

Embracer Group to Split Into Two Companies by 2027, Spinning Off Tomb Raider and Lord of the Rings
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Embracer Group plans to split into two public companies by 2027. The new spin-off, Fellowship Entertainment, will manage major intellectual properties including Tomb Raider and The Lord of the Rings. The move is designed to increase management focus on these assets.

Fellowship Entertainment to be led by current Embracer CEO Phil Rogers

Fellowship Entertainment will be led by current Embracer CEO Phil Rogers and COO Lee Guinchard. Embracer Group will retain other IPs such as Destroy All Humans!, Killing Floor, and Hot Wheels Unleashed. The split is intended to allow each entity to operate as a standalone business.

Lars Wingefors, chair of the board of Embracer Group, said in a letter to shareholders that the main rationale is to capture the full potential of the IPs, their communities, and the game developers. He added that Fellowship Entertainment's assets are among the most undervalued in the industry and that he expects the company to reach industry-leading profitability.

Embracer Group has not confirmed the exact timeline for the split beyond the 2027 target. The company has been associated with industry layoffs, but Wingefors stated that they worked hard to retain as many people as possible during a difficult period.

Source: Embracer, VideoGameChronicles

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