Telltale Games Closed? Reports Claim Game Developer Is No More [UPDATE]

UPDATE: Telltale has provided Newsweek with the following statement:

Today Telltale Games made the difficult decision to begin a majority studio closure following a year marked by insurmountable challenges. A majority of the company's employees were dismissed earlier this morning, with a small group of 25 employees staying on to fulfill the company's obligations to its board and partners. CEO Pete Hawley issued the following statement:

"It's been an incredibly difficult year for Telltale as we worked to set the company on a new course. Unfortunately, we ran out of time trying to get there. We released some of our best content this year and received a tremendous amount of positive feedback, but ultimately, that did not translate to sales. With a heavy heart, we watch our friends leave today to spread our brand of storytelling across the games industry."

Telltale will issue further comments regarding its product portfolio in the coming weeks.

Original story as follows...

Telltale Games, the developer behind narrative-driven games such as The Walking Dead and Batman, may be closing its doors for good. This information comes from a report on Gamasutra.

While information is scarce, Gamasutra mentions "social media posts from multiple developers previously employed with the company" as the source for information on the company's closure. However, no specific posts were included in Gamasutra's article.

According to The Verge, there may still be some life left within Telltale. While the outlet reports large-scale layoffs, sources say a small team of around 25 employees will remain. Seeing as how the final season of The Walking Dead has already begun rolling out it would make sense that some employees would at least stick around to oversee the release of the final four episodes.

The future of Telltale remains unclear. It's possible the company will shut down once The Walking Dead has concluded, or maybe not. Newsweek has reached out to the company and will update the story with any comments received.

Our best wishes go out to those affected by the layoffs.

So what do you think? Are you sad to hear of layoffs at Telltale? Do you hope the company can manage to survive? Let us know your thoughts in the comments section below.