Oblivion developers Bethesda has purchased the rights to the Fallout series from Interplay for a reported USD 5.75 million.

Previously, Interplay had given Bethesda the rights to develop titles in the Fallout series, along with the possibility of creating a Fallout MMO. Development of a third title in the series is currently underway.

With the new deal now in place, Bethesda now has full ownership of the Fallout IP and will be licensing rights of the new MMO to Interplay.

The licence is conditional on Interplay starting development of the title and acquiring at least USD 30 million in financing within two years, however. Additionally, the game must also be completed within four years of commencing development.