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Embracer CEO confirms TimeSplitters studio faces closure before Christmas
(www.videogameschronicle.com)
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this post was submitted on 28 Nov 2023
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Even simpler, just having that IP denies the competition access to it. In their eyes that creates value and at the end of the day that's all that matters to these companies holding IP. They can just sit on it.
That's certainly a factor but only if they are working on other IPs that might compete.
I got the sense Embracer got the things it got specifically because they were being sat on, creating no value for anyone.