Torchlight developer Runic Games has shut down

Perfect World shuts down Runic Games studio

However, the possibility exists that the lengthy development of the team's latest game, Hob, was more expensive than its undisclosed sales were able to recoup.

We may be spoilt for choice for games to play right now, but news like this is a stark reminder that things are more risky than ever for those working in the games industry.

Last week, Torchlight and Hob developer Runic Games was shut down by its parent company, Perfect World Entertainment. While Perfect World may own the rights to the games, I'd personally feel wrong giving money to the publisher that cut the creators loose so casually.

"Perfect World Entertainment recently closed the Seattle office of Runic Games as part of the company's continued strategy to focus on online games as a service", read a statement provided to website Gamasutra.

A former Motiga employee revealed the news on Twitter, before the studio's founder and CEO, Chris Chung, confirmed the closing to Destructoid.

Baldree also revealed that Runic nearly became a part of Turbine, the developer of Lord of the Rings Online, where it would have made a "hobbit-themed title". "And for all our fans, our community and multiplayer services will keep running even after the studio's lights go off".

Torchlight originally released back in October of 2009, with its sequel Torchlight II coming three years later and introduced co-op online and LAN multiplayer.

The studio was well-known for its "Torchlight" game series.

Following the news that Motiga has reduced the staff of its studio, Perfect World Entertainment can confirm that as the publisher of very big, the game will continue to be available on our platforms.

Torchlight was developed by Travis Baldree, designer of the equally excellent action-RPG Fate, along with Diablo and Diablo 2 designers Max Schaefer and Erich Schaefer who previously worked with Baldree on Mythos.

China-based publisher Perfect World Entertainment - which acquired a majority stake in Runic in May 2010 - told Polygon in a statement that it has chose to close the studio "as part of [Perfect World]'s continued strategy to focus on online games as a service".

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