Posted 7/15/2008 at 7:44 PM By GamingShogun
Looks like the Flagship Studios' plot thickens as, after what was reported to be massive lay-offs and loss of their intellectual property, they were said to have closed up shop. They claim that not only are they remaining in business after laying off most of their staff, but they still continue to own their intellectual properties.
Now it looks like the studio is to remain open, according to an official statement:
Flagship Studios has announced today that despite rumors to the contrary, the company is still operating.“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.” said Bill Roper, CEO of Flagship Studios. “The past five years have been an incredible experience for us, but unfortunately, we couldn’t sustain the size of the company any longer.”Flagship Studios owns the rights to all its technology and IP, including Hellgate: London and Mythos. Due to the current situation, Flagship will not be taking any new subscribers for Hellgate: London, and all current subscriptions will not be billed.Flagship wishes to extend their heartfelt thanks to those that have supported the company and games over the past five years.
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