Delaware Court Reinstates Ted Gill as Unknown Worlds CEO

A Delaware Court of Chancery judge has ordered the reinstatement of Ted Gill as chief executive officer of Unknown Worlds Entertainment, restoring his full operational authority over the studio and its upcoming game Subnautica 2, including decisions on its early access release on Steam. The ruling, issued on March 16, 2026, by Vice Chancellor Lori W. Will, represents a significant victory for Gill and his fellow cofounders in their ongoing lawsuit against parent company Krafton, following their abrupt terminations in July 2025.

The decision stems from a legal dispute that arose after Krafton, a South Korean video game publisher, acquired Unknown Worlds in October 2021 for an upfront payment of $500 million, plus a potential $250 million earnout contingent on the studio meeting revenue targets by December 31, 2025. The cofounders—Gill, creative director Charlie Cleveland, and technical director Max McGuire—were guaranteed operational control of the studio during that period under the equity purchase agreement, with terminations permitted only for specific causes such as felony convictions or gross misconduct.

Krafton removed the three executives on July 1, 2025, citing concerns...