To no one's surprise, Remedy has confirmed that the "bigger budget Control game" formerly known as Codename Heron is indeed Control 2. The developer has signed a co-development and co-publishing agreement (opens in new tab) with 505 Games, which carries the news along with concept art. [Game director Mikael Kasurinen said, "'Control 2' will be another leap into the unknown. It will be an unexpected journey." It will take time, but to say the least, this is the most exciting project I have ever worked on. It's just getting started, but it will be worth the wait."

The IP is still owned by Remedy, but the developer will share the burden with 505 Games, splitting development and marketing costs, as well as net revenues; Remedy will be responsible for publishing on the PC, while 505 will handle the console release. [505 Games co-CEOs Rami and Rafi Galante (open in new tab) said, "Control is the biggest investment 505 Games has ever made, and it has special feelings for us."

The two will play with a budget of 50 million euros (just over $51 million), which is about $20 million more than the development budget for the original Control, which was less than $30 million. This is because Remedy and 505 have not revealed much yet, except for the fact that it is being built on Remedy's Northlight engine. It is still in the concept stage.

This isn't the only project Remedy is working on, and it's going to be pretty busy: Alan Wake 2 is due out next year (opens in new tab), and the Co-op Control spin-off known as Codename Condor is still still in prototype.