By Nick Romano
August 28, 2019 at 12:24 PM EDT
Telltale (3)

In a surprise announcement Wednesday morning, award-winning game studio Telltale Games announced its return from the dead after closing its doors just last year. But, resurrection always comes with a price.

LCG Entertainment, a holding company, purchased the former studio’s key assets with help from new investors and advisors, according to a press release. Their intent is to re-release select games from Telltale’s catalog and develop new games.

Founded in 2004, Telltale Games released episodic videogame series based on The Walking Dead, Batman, Guardians of the Galaxy, Game of Thrones, the Borderland console game (as Tales from the Borderland), and the Fables comic series (as The Wolf Among Us).

Jamie Ottilie and Brian Waddle, who weren’t involved with the previous Telltale titles, will head this new incarnation of the studio. According to the release, “Key talent from the original company has been hired or contracted by the new Telltale.”

In September 2018, the brand suffered massive layoffs that began “a majority studio closure,” the company announced at the time. Plans were already set in motion to develop a game based on Stranger Things, per a report from The Verge. Those plans fell through, but it’s unclear if those plans could be revived, as well.

“All of us were big fans of the games Telltale created, as we strongly believe in games as a storytelling medium and nobody did it better,” Ottilie, Telltale’s new CEO, said in a statement. “Even now, when you see a game with strong narrative, it’s always compared to Telltale, so it’s no surprise that players and industry colleagues alike mourned the studio’s closure. We believe there is still so much life to the brand and its franchises, and we look forward to building upon the company’s storytelling legacy.”

Waddle, the new chief revenue officer, added, “There is still a huge fanbase of Telltale players and that’s one of the main reasons we decided to make this investment. It’s hard to see your favorite games disappear or not get the sequels they deserve, so we thank everyone for their patience and support. We’ve got some exciting things to share soon. We’ll try not to keep them waiting too long, but we think fans will be pleased.”

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