Developer NCSoft said that the game is "no longer financially viable in the west". There is a little bit of good news though, for those of you who happen to be affected emotionally by this.
For the next two months, all existing accounts get to play for free and the developers have "lots of great events" planned, up until the closing of its NA servers. Additionally, long time Lineage players will receive some type of "Player Appreciation Awards" which allows them to try some other NCSoft titles for free. Such as Aion and Lineage II.
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