Grargar: The license holder could charge a lot for an infinite license.
real.geizterfahr: Yes, he could. And obviously he did so. But what does he gain with it? How much money does he make from Telltale's game now? The game is already there, you just have to sell it to make "free money". It's not as if the game stops to exist, just because you ask for one bazilion Dollar for another 5 years of publishing rights. People just pirate that game from today on and no one makes money. As I said: It's stupid.
Seriously, I don't get the concept of such licensing deals... Allow Telltale to make and sell such a game, or don't allow it. It could be so easy...
Considering one single game, it would make sense to keep it on sale rather than let it go into unproductive state (iow: licence expired).
But where it gets very complicated is if someone else wants to make a game based on the same IP. To prevent two competing companies/products having the same IP to make money with, everyone involved is usually accepting the fact that it is better to lose some money than risk having such competition going on.
This is why, for instance, older Star Trek games have always vanished from sale when some new company has licenced the IP.
The question is, is it impossible to have these things worded as "-- X can use the IP and sell products based on it until xx.xx.20xx, after which X can continue to use it under same conditions until someone else gets rights to use the IP--". That way games and other products would remain on sale, and still having the licence would be exclusive, as by every new licence agreement, the older one would become outdated.