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Using made up numbers ...

Nintendo is paying Sega $40 Million to develop a game that is costing them $20 Million to create, plus an additional $2.50 for every copy of the game sold to license the IP, and as a result the content of this game will be published and owned by Nintendo. While Sega could possibly develop new Bayonetta games in the future for other platforms it is unlikely that any of the content from this game could be used without compensating Nintendo for it.