# Relic CEO: Retaining Company of Heroes Rights Saved the Studio Relic Entertainment secured intellectual property rights during its independence transition from Sega to Emona Capital. - **Source:** [Rock Paper Shotgun](https://www.rockpapershotgun.com) - **Published:** 2026-11-11 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/9f4f3d18-ded0-4bf1-9534-b9895dfc681a ## Strategic Asset Retention Relic Entertainment CEO Justin Dowdeswell confirmed that securing the rights to the Company of Heroes franchise was a non-negotiable condition during the studio's separation from Sega. This strategic move allowed the developer to maintain control over its most valuable intellectual property while transitioning to ownership under the UK investment firm Emona Capital. ## Existential Financial Necessity Dowdeswell stated that without the Company of Heroes franchise, Relic would have effectively become a dead studio. The decision was driven by the urgent need to ensure long-term viability, as the studio required both the creative freedom to develop future sequels and the consistent revenue generated by its existing back catalogue sales. ## Historical Studio Vulnerability The CEO highlighted that many game development studios fail when they lose control of their core intellectual properties. By pointing to numerous unnamed industry examples, Dowdeswell emphasized that relying solely on a studio's reputation is insufficient for survival in the current market, where asset ownership dictates a company's ability to remain financially solvent. ## Legacy of Influential Titles Founded nearly 30 years ago, Relic has built a significant reputation through acclaimed real-time strategy series including Homeworld, Dawn of War, and Company of Heroes. Beyond these core titles, the studio has historically experimented with various genres, such as the third-person shooter The Outfit and the original Warhammer 40,000: Space Marine title. ## Transition to Independent Ownership The 2024 divestiture from Sega marked a pivotal shift for the studio, moving from a large corporate parent to the UK-based Emona Capital. This transition required complex negotiations to carve out specific assets from the parent company's portfolio, ensuring that Relic retained the essential tools needed for its continued operational independence. ## Revenue Stability Through Catalogues Beyond the development of new projects, the back catalogue of Company of Heroes provides a vital financial cushion for the studio. These legacy sales offer predictable income streams, which are critical for maintaining staff and operational costs during the lengthy development cycles that characterize the modern high-end video game production industry today. ## Industry Consolidation and Independence The move reflects a broader trend in the gaming industry where studios seek to reclaim autonomy from larger publishers. By securing their flagship intellectual property, Relic avoids the common fate of studios that are absorbed and eventually shuttered by parent companies, positioning themselves to operate with greater agility in a competitive market. ## Future Operational Outlook With the rights to Company of Heroes secured, Relic now focuses on its future under Emona Capital. The studio must balance the maintenance of its classic titles with the development of new experiences, leveraging its established brand equity to navigate the challenges of the current independent development landscape and ensure sustained growth. ## Sources covering this story - https://www.rockpapershotgun.com/keeping-hold-of-company-of-heroes-was-essential-for-relic-to-leave-sega-relic-ceo-says-without-it-we-would-have-been-a-dead-studio — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._