Sources: Telltale Games Closes Majority of Studio, The Wolf Among Us 2 and Stranger Things Canceled [Update, Correction]
I figured they'd hold on longer, but I'm not surprised. They could never manage the declining sales of their various series without retooling which it seems they never did and instead let the bubble burst.
I figured they'd hold on longer, but I'm not surprised. They could never manage the declining sales of their various series without retooling which it seems they never did and instead let the bubble burst.