Edge writes: "From the outside, Iron Lore Entertainment appeared to do everything right. The studio had the talent, the ideas and the ability to execute; qualities that culminated in the 2006 release of the PC role-playing game Titan Quest, a piece that earned Iron Lore a Game Developers Choice Award for best new studio.
But by February 19, 2008, Iron Lore was finished. The studio made a vague statement on its website saying that it was "unable to secure funding for its next project" and would disband.
Days after the closure, Iron Lore's lead designer Arthur Bruno and art director Eric Campanella quietly (virtually silently) formed Cambridge, Mass.-based Crate Entertainment and bought the rights to that "next project," dubbed Black Legion."