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'Tomb Raider' owner Embracer splits into three companies

Middle-earth Enterprises & Friends will manage the intellectual property rights Embracer has for "The Lord of the Rings" and the "Tomb Raider" games.

Sweden's Embracer, owner of the "Tomb Raider" franchise, announced Monday it would split into three separate companies in a major reset for one of Europe's biggest video game groups.

Following the announcement, the company's shares rose over 10 percent in the early hours of trading on the Stockholm stock exchange.

The new entity, Middle-earth Enterprises & Friends, will manage the group's most well-known and big budget game studios—such as Crystal Dynamics, Dambuster Studio and Eidos-Montreal—representing net sales of 14.1 billion kronor ($1.3 billion).

"As a standalone company, 'Middle-earth Enterprises & Friends' will operate as a more transparent entity, offering a better structure to maximize the potential of its highly strategic franchises," Embracer said in a statement.

The group will ...

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