Bethesda Softworks, creator of everything Elder Scrolls, has finally become the owner of the Fallout license, acquiring it from erstwhile owner Interplay for a cool $5.75 million. Instead of merely licensing the Fallout name, Bethesda has become the owner of one of the respected names in RPG-dom. Ohhhkaaayyy, thats good news but where's my Fallout 3, Bethesda?

Prior to this agreement, Bethesda had merely been licensing the IP from Interplay while working on its sequel to the cult-classic RPG series. Bethesda is purportedly "several years into the project" with no end in sight. Interplay is developing its own Fallout MMO, but under terms of the deal will be acting as licensee rather than owner. A special clause of the agreement states that Interplay must commence full-scale development on the title within 24 months of the date of this agreement or forfeit its rights to the license.

via IGN.