Hellgate is an action RPG that allows you to play in a first-person or third-person perspective. Set 27 years into the future, an ancient prophecy made centuries ago has come true and the gates of hell have opened. Demons have overrun the world of man and roam our lands, destroying, pillaging and killing humans.Using an independent film financing model as its basis, Comerica Bank has created a multi-million dollar facility backed by the sale and distribution rights to Flagship's game franchise Hellgate: London.
"By following a model similar to independent film financing, we are able to directly finance ongoing content for our online games without relying upon a publisher?s investment," said Steve Goldstein, Director of Business Development and General Counsel, Flagship Studios. "As the PC game business makes the transition from the boxed retail model to the online model, alternative financing will become a cornerstone of expanding the industry."
"We are pleased that Comerica Bank could build on our expertise in financing films to help meet the financial needs of Flagship Studios," said Jeff Colvin, Senior Vice President with Comerica Bank, from its Entertainment Group offices in Century City.
Jeff Colvin and Todd Steiner structured the transaction on behalf of Comerica. Joshua Grode and Sam Kozhaya of Liner Yankelevitz Sunshine & Regenstreif, LLP led the legal team on behalf of Comerica. Andrew Katz of Mitchell Silberberg & Knupp, LLP represented Flagship Studios in the transaction.
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