Rumors of Flagship Studios' demise have been greatly exaggerated. Or they haven't, depending on which story you choose to believe.
The confusion broke late last week after online media outlets reported that Flagship had laid off all its employees after losing its intellectual property (IP) in a convoluted funding deal. According to the story last week on Voodoo Extreme, the company had funded its last round with two overseas gaming companies, using its IP as collateral for the loans. When funding ran out, the two companies were alleged to have taken control, with Mythos going to Korean distributor HanbitSoft, and Hellgate: London going to Comerica.
However, Actiontrip points to a posting on the forums for Hellgate: London, in which Flagship responds to the news reports with a press release. The post includes a statement from Flagship CEO Bill Roper:
“It is with deep regret that I must announce that Flagship Studios has laid off most employees. However, the core management and founding team members are still at Flagship. The past five years have been an incredible experience for us, but unfortunately, we couldn’t sustain the size of the company any longer.”
It also claims that Flagship still retains the IP rights to Mythos and Hellgate: London, but that new subscriptions to Hellgate: London are on hold at this time. With almost all the employees gone, where Flagship is headed is anyone's guess. The news does not appear on Flagship's news release section, which hasn't been updated since April.
Comerica and HanbitSoft have yet to make a statement about the Flagship developments.
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