A similar (albeit weaker) regime already exists in the EU for "orphan works", i.e. works for which copyright holder(s) cannot be found or contacted. See https://en.wikipedia.org/wiki/Orphan_work
Then there’s the hilarious case of No One Lives Forever, a well regarded game from 2000, where the ownership rights are murky with several organisations willing to say on the record that they have no idea if they own it, that they have no intention of finding out, but that if anyone attempts to resurrect the games they will find out and sue.
> Whether orphaned software and video games ("Abandonware") fall under the audiovisual works definition is a matter debated by scholars.[14]
[14] Maier, Henrike (2015). "Games as Cultural Heritage Copyright Challenges for Preserving (Orphan) Video Games in the EU" http://www.hiig.de/wp-content/uploads/2015/10/Maier_JIPITEC-... (PDF). JIPITEC. Humboldt Universität zu Berlin. p. 120. Retrieved 2016-01-18.