In February 2019, the company started to negotiate with Sherwood Partners, the company managing the liquidation of Telltale's properties, to acquire much of remaining Telltale licenses and games. LCG Entertainment was incorporated under the Delaware General Corporation Law on December 27, 2018, with Jamie Ottilie and Brian Waddle acting as chief executive officer and chief revenue officer, respectively. Several of the licensed properties were taken back by the IP owners notably The Walking Dead games were acquired by Skybound Entertainment, and the company brought in much of the former Telltale staff to complete The Final Season in 2019. However, after a few major deals fell through in September 2018, Telltale announced its immediate closure, cancelling all current projects, and by October 2018, had filed for assignment. A major shift in leadership occurred in 2017 to try to refocus the company on improving the quality, with The Walking Dead: The Final Season (the fourth in the series) aimed to demonstrate this new approach while the company worked on improving their financial situation. While the studio continued to build on its successes, the period leading up to 2016 created a lot of internal strife within Telltale, focusing on quantity of titles released over quality, and led to underperforming sales of hastily-produced titles. The Walking Dead helped Telltale establish major licenses from other franchises, among which included Batman and the Fables comic. While its earlier titles were modest successes, the studio had become successful with its release of the licensed property The Walking Dead in 2012. The original Telltale Games had become an established studio in producing episodic adventure games.
See also: Telltale Games § Majority studio closure and aftermath (2018)
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