Gamasutra reported, this morning, that Bethesda has acquired the Fallout series IP from Interplay, for $5.75 million.
As part of the agreement, Interplay will continue working on the Fallout MMO. However, there is a clause in the agreement: Interplay must enter development of the MMOG within 24 months of the agreement, and must secure at least $30 million in funding, or they will forfeit the license rights for the MMO.
Additionally, Interplay must launch the Fallout MMO within 4 years of the agreement, or they will "immediately and permanently" forfeit the license for the MMO.
If the MMO is launched, Interplay has agreed to pay Bethesda 12 percent of the game's sales and subscription fees.