Crytek Sell off Their Last Hope Asset as Financial Woes Continue

Koch Media and their publishing division have grabbed Crytek by the throat this week, snapping up the Homefront franchise, as well as rights to their in-development title Homefront: The Revolution and all of its related assets.

This is both good and terrible news for Crytek, the company has been hit with financial troubles and a mass exodus of its main staff in recent months as the company failed to pay staff wages and sales targets were not met. Their last hope was Homefront, their next AAA title and now they no longer even own it, leaving Crytek with a pile of money from the sale, but nothing new to market short of their current back catalogue and game engine CryEngine 3.

We are thrilled to see another great IP joining the Deep Silver universe,” Dr. Klemens Kundratitz, CEO of Koch Media Group, said in a statement. “We strongly believe in the potential of Homefront: The Revolution and trust in the new team to continue the path they have been walking in the last years.”

Crytek may now be completely out of the game just yet, but if this recent sale is anything to go by, we could be about to see another THQ style clear out.

Thank you Forbes for providing us with this information.

Image courtesy of Forbes.