L.A. Noire developer Team Bondi has reportedly sold off all its game IP and other assets to Australian production studio KMM.
Rumors surfaced last week that Team Bondi, the Australian studio behind L.A. Noire, was in serious financial trouble and looking for a buyer. At the top of that list was Kennedy Miller Mitchell, a production company founded by Mad Max creators George Miller and Byron Kennedy. And while there's still no official word from anyone involved in the process, "a source close to the matter" says that it's now a done deal, as all assets and IP belonging to Team Bondi have been sold to KMM, while Team Bondi employees have been offered either a job at the new company or a severance package.
The severance package may be appealing because studio boss Brendan McNamara is said to be moving to KMM along with the studio, which could make things sticky for KMM employees who came to the company to escape the "abusive work conditions" at Team Bondi. And don't expect McNamara's demeanor to soften in his new home; KMM principal George Miller reportedly likes the cut of his jib, specifically as it relates to his "attitude to deadlines." I guess nobody told George that L.A. Noire was originally supposed to come out in 2008.
Whether Team Bondi continues to operate as a distinct entity or is entirely subsumed by KMM, any potential L.A. Noire sequels will be unaffected, as the rights to the IP are owned by publisher Rockstar.