The video game company that kept buying everything now can’t stop splitting itself up

Embracer is splitting again, moving major game IPs and studios into a new standalone company called Fellowship Entertainment.

The remaining business will keep the Embracer name, while franchises like Lord of the Rings, Tomb Raider, Metro, Dead Island and Deus Ex shift into the new entity.

The company says the restructuring is meant to sharpen management focus, unlock value, and support profitable growth.

The move extends Embracer’s long restructuring effort after earlier spin-offs and weaker-than-expected earnings.