Microsoft has released the Xbox IP 'Alan Wake' to Remedy Entertainment

[Windows Central]

Despite a strong cult following, Microsoft didn't see an opportunity for Alan Wake 2 to make a decent return on investment. Remedy Entertainment has now acquired full ownership of the IP, opening up the possibility for Alan Wake to return.
One of Microsoft's biggest missed opportunities can be found in the Alan Wake IP. The horror-thriller title with nods to the likes of Twin Peaks and Silent Hill wasn't a huge hit in its first outing but amassed a dedicated cult following when it launched back on the Xbox 360. Microsoft declined to fund a sequel, sadly, owing to the fact the original game sold only around 3 million copies.

Full story from the WindowsCentral blog...