It’s been a rough stretch for CMON, and the company has made another move to steady the ship. The publisher has confirmed it’s sold off two of its recently acquired titles – Anastyr and Hel: The Last Saga – to French publisher and localisation specialist Don’t Panic Games.
From Mythic to CMON to Don’t Panic
Both games originally belonged to Mythic Games, a company once known for blockbuster crowdfunding campaigns before financial struggles forced it to offload projects. CMON stepped in back in January 2023, taking on Hel and Anastyr.
At the time, CMON made it clear the titles weren’t anywhere near ready for publication, promising to put them through “an extensive development and play-testing process.” Backers of the original Kickstarter campaigns – which together raised around $3.2m – were told they could eventually receive copies of CMON’s finished versions, though shipping and VAT would still fall to them.
Now, just 18 months later, both projects have moved on again. Don’t Panic says it has “a special fondness” for the games and was already working with some of the original creators, making the decision to take over feel like a natural step.
Why the Sale?
The move comes as CMON looks to rein in its finances. The company has been posting losses for some time, including nearly $7m in the first half of 2025 and another $3m across 2024. It’s also juggling 15 unfinished crowdfunding or pre-order campaigns worth roughly $18m in pledges.
This isn’t the first time CMON has sold off assets in recent months. Earlier this year it agreed to part ways with several IPs, including its flagship Zombicide line, in a bid to cut costs and refocus. Staff layoffs and a pause on new campaigns were also announced in March. Instead of the big, miniatures-heavy Kickstarters the company became known for, CMON has been turning its attention to smaller-box retail games, with some planned to debut at Spiel Essen in October.
What Happens Next
For Don’t Panic, this deal adds two ambitious titles to its portfolio. The Paris-based company already handles French localisations for hits like Final Girl and Fantasy Realms, while also publishing its own projects.
BoardGameWire has asked Don’t Panic if it intends to carry on CMON’s commitment to deliver copies to Kickstarter backers, but no firm details have been shared yet. The company has promised, however, to “make sure [the games] come to existence.”
CMON’s Remaining Catalogue
Despite recent cutbacks, CMON isn’t out of the game just yet. The publisher still has high-profile franchises under its belt, such as Marvel United and DC Super Heroes United. Between them, those ranges have pulled in more than $18m from crowdfunding campaigns.
The big question is whether a pivot to smaller, retail-first titles can stabilise the company long term. For now, Hel and Anastyr are officially Don’t Panic’s responsibility, and CMON continues to shed weight as it tries to find a sustainable path forward.
