American TV network AMC and South Korean developer Smilegate backed out of funding talks with Telltale a day before the studio announced its intent to close its doors, according to a report.

As reported by Variety, Telltale’s management had been working on the deals in a bid to save the company from closure.

Talks with AMC were said to have been going well in Telltale’s eyes, with confirmation of funding expected in weeks. One employee had even gone as far as to say it was painted as a done deal.

However, one of the two companies backed out of talks on Thursday afternoon, the day before the layoffs were announced, with the other backing out the very same night.

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