
Embracer Group will separate into two companies in 2027: Fellowship Entertainment and Embracer. Fellowship Entertainment will hold the majority of the publisher’s biggest video game IP, with major emphasis on franchises such as Lord of the Rings and Tomb Raider. Embracer’s board chair said the company will seek partners to develop other well-known IP including Saints Row, Legacy of Kain, Deus Ex, Red Faction, The Mask, Thief, and TimeSplitters. Potential partner work is also mentioned for AAA franchises such as Kingdom Come: Deliverance, Dead Island, Darksiders, Remnant, and Metro. Deus Ex revival efforts were disrupted by cancellations and layoffs. Saints Row revival attempts were reportedly ignored. Dark Horse Comics will help utilize IP, supported by a history of co-producing film and TV with Hollywood partners. Warhorse Studios is building an open-world Middle-earth RPG in Lord of the Rings and a new Kingdom Come adventure. Metro 2039 will return after a seven-year break with a new main character.
"Embracer Group will split itself into two separate companies--Fellowship Entertainment and Embracer--in 2027, with the former maintaining the majority of the publisher's biggest video game IP. While Fellowship Entertainment will have a large focus on franchises like Lord of the Rings and Tomb Raiders, there will apparently be room for some of the company's other titles to thrive as well."
"Embracer's chair of the board Lars Wingefors told investors that it will be seeking partners to work on some of Fellowship's "other well-known IP such as Saints Row, Legacy of Kain, Deus Ex, Red Faction, The Mask, Thief, TimeSplitters," and more. Wingefors added that the company sees potential in teaming up with partners on some of its AAA franchises as well, including Kingdom Come: Deliverance, Dead Island, Darksiders, Remnant, and Metro."
"The most recent attempt to revive Deus Ex led to a game that was canceled as part of Embracer's cutbacks in 2024. Over 100 developers were laid off from Deus Ex developer Eidos-Montreal earlier this year. In February 2026, Saints Row director Chris Stockman shared his belief that the franchise is dead after he said that Embracer ghosted his attempts to revive it."
"Dark Horse Comics--which was purchased by Embracer in 2022--will play a role in utilizing the company's IP, and Embracer's announcement noted the publisher's "long track record of co-producing film and TV shows with partners in Hollywood." As part of Embracer's investor presentation, Kingdom Come: Deliverance developer Warhorse Studios revealed that it's working on an open-world Middle-earth RPG set in the Lord of the Rings franchise."
#video-game-publishing #corporate-restructuring #game-ip-partnerships #lord-of-the-rings #metro-2039
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