Flagship Studios No Longer Owns Hellgate: London

Flagship Studios is no longer the owner of Hellgate: London. The studio lost the IP to HanbitSoft. HanbitSoft’s reason of IP takeover:

HanbitSoft states that the reason it is pursuing this course of action is because “It is hard for us to accept Flagship Studios’ requests for continued support in capital and funding any longer and because Flagship was being difficult”, and because it co-owns a direct stake in the IP, it therefore “has a say in reviewing and determining any course of action to be taken with Hellgate: London.”

HanbitSoft is expected to take full control over the IP. HanbitSoft goes on to state that in doing so, it will be able to “properly manage and develop Hellgate: London into a good game with proper content”, with its own in-house team of developers.

Basically, Flagship did a miserable job and the korean developer took back the IP to fix the trainwreck RPG.

Take-Two forms severance plan in case of takeover

Take-Two Interactive Software Inc. the target of a $1.9 billion buyout offer by Electronic Arts Inc , said on Friday it had adopted a severance plan for employees who get fired in the event the company is bought. The plan, adopted on March 3 and detailed in a filing with the U.S. Securities and Exchange Commission, will give executives up to 1.5 times their salary and bonus for up to 18 months if they are fired without cause within a year of a change in control. Read more