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John Carmack from Kotaku interview"We're really getting kind of tired competing with our own publishers in terms of how our titles will be featured," Carmack said. "And we've really gotten more IPs than we've been able to take advantage of. And working with other companies hasn't been working out as spectacularly as it could. So the idea of actually becoming a publisher and merging Bethesda and ZeniMax on there [is ideal.] It would be hard to imagine a more complementary relationship. They are triple A, top-of-the-line in what they do in the RPGs. And they have no overlap with all the things we do in the FPSes."
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Anyway it makes sense for id though to go with someone like Bethesda and not a larger publisher/developer, since they are essentially being made a partner in this case. So they'll still have all the power over their own games, where if they had sold to someone else they would have had likely less say over their properties.