Flagship Inspired by Indie Movie Funding

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27th Mar 2008 01:15 AM GMT | Leord | 0 comments

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Developer Flagship (Hellgate: London, Mythos) has announced that it has closed a new deal with Comerica Bank to fund the company using an "independent film financing model as its basis" that will see the company continuing to create content without publisher investment.

The company has created a new multi-million dollar facility with the bank, "backed by the sale and distribution rights to Flagship�s game franchise Hellgate: London."

Company business development director Steve Goldstein characterized the move as a landmark one, suggesting that "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."

Said Comerica senior VP Jeff Colvin, "We are pleased that Comerica Bank could build on our expertise in financing films to help meet the financial needs of Flagship Studios."

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