Namco Bandai to Dissolve Tales Studio
The Tales studio currently exists as its own separate entity from parent company Namco Bandai. However, Namco Bandai has officially announced that it has plans to dissolve the renowned RPG developer in January, buying out all of their current shares and placing them into their network.
No specific reasons were given for the closure, but it was revealed last year that the Tales studio had accumulated a whopping sum of 21 million dollars in debt, and had posted an annual loss of over one million in total revenue for the entirety of 2011.
The Tales studio currently houses over 100 employees, and has multiple projects in the pipeline that were previously announced, and scheduled for release. Tales Of The Heroes: Twin Brave was slated for release on the PSP, and Tales Of Innocence R was announced for the upcoming PlayStation Vita.
Namco has not stated if it plans to offer the current Tales staff alternate positions within the company. Hopefully the Tales series will live on being developed by the same team, with just a change in the studio label.