Flagship Loses IPs, Closes

Flagship No Longer Owns Hellgate London (5th Update) on Hellgate Guru has been updated a few times since it was referenced here yesterday (story). One update clarifies that Korean Hellgate distributor HanbitSoft informed them that they do not have any claim to take of ownership of Hellgate: London, but rather it is the IP for Mythos that was used as collateral for a loan they made to Flagship, and that Flagship has turned down their offers of additional loans to keep them afloat. And apparently such loans would have been necessary, as Voodoo Extreme is capping all this news off by reporting that Flagship has lost the rights to the Hellgate and Mythos IPs, has let all of its staff go, and their offices are being closed today. VE reports that HanbitSoft now owns Mythos, while investor Comerica Bank owns Hellgate: London. Their conclusion is that development of both games for Asia is likely to continue, while the future of each for western audiences is unknown at this point.
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Re: No subject
Jul 12, 2008, 17:17
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Re: No subject Jul 12, 2008, 17:17
Jul 12, 2008, 17:17
 
As the media propagates "how bad the economy is" I think we will see more of this.

Yeah because honestly when the economy was great I honestly didn't mind paying for a piece of shit I'd never play.

AFAIK computer games are one of the very few growth areas atm with a good game making far more money then the sanitized political shite the film companies make.
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