Hellgate: London Receives Additional Financing; Flagship Uses Sales Rights As Loan Collatoral

Flagship Studios, creators of Mythos (PC) and Hellgate: London (PC), announced today that it has secured financing with Texas-based Comerica Bank to support the continuing development of its franchises.

Comerica Bank stated that it is using an independent film financing model as the basis for a multi-million dollar financing package, which is backed by the sale and distribution rights for 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 Flagship business development director Steve Goldstein.

He added, "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."