Raport bieżący nr 22/2022: Zawarcie porozumienia o rozwiązaniu umowy produkcyjno-wydawniczej z Take‑Two Interactive

Summary

The termination of the production and distribution agreement between PCF Group S.A., its subsidiary People Can Fly U.S., and Take-Two Interactive Software marks a significant shift in the development trajectory of the action RPG codenamed Project Dagger. Effective September 23, 2022, the parties formalized an Understanding of Termination regarding the original July 2020 contract, which had previously granted Take-Two exclusive rights to fund and publish the title. This move transitions the project from a third-party funded model to one where People Can Fly retains full intellectual property rights and control over future commercialization. The financial settlement dictates that People Can Fly is not required to immediately repay the development advances received during the production period. Instead, the developer is obligated to pay Take-Two a fixed sum of $20 million, contingent upon the game’s commercial release. The repayment structure varies based on the chosen distribution path: if the game is self-published, the amount will be paid through quarterly royalties until the $20 million threshold is met; if a new third-party publisher is secured, the sum must be paid in two equal installments within 12 months of the game's launch. Notably, if the project is never commercially released, no repayment is required. By declining to exercise its buyout option for the intellectual property, Take-Two has allowed all rights to revert to People Can Fly. This outcome enables the developer to pursue independent publishing or seek alternative partnerships for the North American-developed title. The agreement reflects a strategic pivot for the Polish-headquartered PCF Group, emphasizing their intent to maintain ownership of their creative assets while managing the financial liabilities associated with high-budget game development.

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