Embracer Group, Fellowship Entertainment ve Embracer olmak üzere iki ayrı şirkete bölündüğünü duyurdu.

Embracer Group is known as one of the biggest holding companies in the gaming industry, as it owns some big publishing and gaming studios such as THQ Nordic, Plaion (Deep Silver), Freemode (Middle-earth Enterprises), CDE Entertainment (Crystal Dynamics), and more. The company recently announced a massive restructuring that could optimize the release of new games and focus on long-forgotten game franchises.

Specifically, on their website, Embracer Group announced that the studio's top executives decided to split the holding into two companies - Fellow Entertainment and the "revamped" Embracer. As described on the website, this move will increase the efficiency of the game studios and be able to unlock the potential of the assets, but with this announcement, the company also hints that managing all the assets has become difficult - especially after the purchase of The Lord of the Rings.

INSIDE INFORMATION: The Board of Directors of Embracer Group AB (“Embracer Group”) today announces the intention to separate the group into two publicly listed companies, through the spin-off of Fellowship Entertainment with a listing on Nasdaq Stockholm planned for calendar year 2027. The main rationale is to further increase management focus to capture the full potential of the high-quality assets in the group and accelerate value creation.

• Fellowship Entertainment, an IP-led entertainment company built around game development, publishing and a licensing focus, as the stewards of The Lord of the Rings, Tomb Raider and many other great intellectual properties. Net Sales SEK of 4,393 million on an illustrative historical basis in FY 2025/26 and a total headcount of 2,169 as of 31 March, 2026.
• Embracer, a natural home for proven entrepreneurs, supported by a more efficient structure, with enhanced governance, tighter cost control, and disciplined capital allocation. Net Sales SEK of 11,544 million on an illustrative historical basis in FY 2025/26 and a total headcount of 3,518 as of 31 March, 2026.

As for the distribution of responsibilities, the new company, Fellowship Entertainment, will become the founding company of such game studios as 4A Games, Crystal Dynamics, Dambuster Studios, Dark Horse Media, Eidos-Montréal, Fishlabs, Flying Wild Hog Studios, Gunfire Games, Middle-earth Enterprises, Redoctane Games, and Warhorse Studios, owning the rights to the franchises Darksiders, Dead Island, Kingdom Come Deliverance, Metro, Remnant, The Hobbit, The Lord of the Rings, Tomb Raider, and many more. Essentially, the company will be responsible for Embracer's main brands, but not just in terms of games, with a focus on becoming a full-fledged media empire - including licensing, movies, and TV series.

The revamped Embracer will focus on AA games, the mobile market, remasters, and the publishing business. The company will have at its disposal game studios such as Aspyr, Beamdog, CrazyLabs, Deca, Demiurge, DPI Merchandising, Limited Run Games, Milestone, PLAION Partners, PLAION Pictures, THQ Nordic (including 35 studios and subsidiaries), Tripwire, and Vertigo Games, as well as game series such as Arizona Sunshine, Biomutant, Destroy All Humans!, Desperados, Gothic, Killing Floor, Kingdom of Amalur, MX vs. ATV, REANIMAL, Ride, Screamer, Titan Quest, Wreckfest, and many more IPs, along with licenses such as Hot Wheels Unleashed and SpongeBob SquarePants.

What is also curious is that Lars Wingefors, the founder and chair of Embracer, published a statement in which he said that Fellowship Entertainment will "more actively be exploring external partnership around our roster of other well-known IPs" - this concerns such game series as Saints Row, Legacy of Kain, Deus Ex, Red Faction, The Mask, Thief, TimeSplitters, amongst many others. Considering that in the past Embracer closed the Volition studio, essentially putting an end to the Saints Row franchise, and that the TimeSplitters remake and the new Deus Ex were also canceled, this message looks like a ray of hope for the revival of one of the franchises in the future.

By the way, speaking of one of the studios owned by Fellowship Entertainment - namely, Warhorse Studios - the developers announced work on two new projects: a new installment of Kingdom Come and an open-world RPG set in the Lord of the Rings universe. There are also reports that Crystal Dynamics (Tomb Raider game series) is making another game in the LoTR universe, and Dambuster Studios is working on the third part of Dead Island.

Are you excited about Embracer's latest restructuring? Share your thoughts in the comments below!