this post was submitted on 28 Nov 2023
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Gaming

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Embracer CEO confirms TimeSplitters studio faces closure before Christmas (www.videogameschronicle.com)
submitted 11 months ago by alyaza@beehaw.org to c/gaming@beehaw.org
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[–] alyaza@beehaw.org 10 points 11 months ago (5 children)

this seems soon-to-be the Embracer cut. this company fucking sucks man. hate this shit

VGC reported earlier this month that Free Radical was at threat of being closed just two years after it was established, as part of huge company-wide cuts at Embracer and its owned publishers.

Although Embracer has yet to publicly confirm Free Radical's position, sources told VGC that Wingefors has now acknowledged in a company e-mail that the Nottingham, UK-based company could be closed on December 11, following the completion of a consultation process.

[–] Gbagginsthe3rd@aussie.zone 10 points 11 months ago (2 children)

Why did they buy up everything ? Seemed to fall apart pretty quickly

[–] MJBrune@beehaw.org 6 points 11 months ago (1 children)

They bought everything up because loans were cheaper and this positions Embracer as a strong IP holder. They now have lots of IPs they own and while you might think "Well they got no one to make the IPs for them!" that might be true in-house, although they certainly have plenty of successful studios still they are busy they have their pick of IPs. Additionally, you can license out IPs for a lot of money with additional funding from the actual sale of the game while a third-party publisher foots the bill entirely.

[–] Telorand@reddthat.com 3 points 11 months ago (1 children)

Oh, groovy. Smashing. Yay, capitalism...

[–] MJBrune@beehaw.org 2 points 11 months ago

Isn't it fun when the every IP that exists is owned by 6 companies?

[–] Marketsupreme@lemm.ee 1 points 11 months ago

They were hoping to be bought up by a Saudi company but the deal fell through

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