The developer cites "unsatisfactory results of the evaluation of the scope and commercial potential of the project" as the reason behind its cancellation.
Take-Two is the parent company of Rockstar Games, 2K, Private Division, Zynga, and more.
Rockstar's next Grand Theft Auto is finally upon us, but amid the hype, there's some worry that it may not cater to everyone.
The company confirmed reports of layoffs after its $460 million sale to Take-Two Interactive, though it didn't comment on their extent.
Of the five sequels that are in development, only one – Homeworld 3 – has been officially announced thus far.
Within hours of news breaking that Gearbox had been sold by Embracer Group, several staff members were informed they were being laid off.
The publisher will own the Borderlands, Tiny Tina's Wonderlands, Homeworld, Risk of Rain, Duke Nukem and Brothers in Arms series.
"We have always prided ourselves on being the most efficient company in the entertainment business,” says Take-Two's Strauss Zelnick.
As per Sony, PS5 had sold 50 million units worldwide as of December 9, which would mean Xbox Series X/S sales likely stand somewhere roughly in the 24-25 million range.
"The legal filing was simply an initial formality, and Remedy and Take-Two continue to work together in partnership," a Remedy rep has said.
Remedy Entertainment revealed a new logo last April, displaying a stylized "R", though Rockstar Games' parent company Take-Two Interactive is none too pleased about that.
"We'd much prefer the risk/reward profile of the business we're in," says Take-Two Interactive CEO Strauss Zelnick.
The eagerly-awaited open-world title is rumored to launch before April 2025 and will allegedly take place in a fictional version of Miami.
Investment bank Drake Star partner Michael Metzger believes Sony and Take-Two Interactive will be actively looking to make acquisitions in the coming months.
The ratings on the website were fake, and those ratings have been removed so as to not cause any further confusion on the matter.
A report by Rockstar Magazine also indicates more realistic deformations for vehicles, physics-based rendering for lighting and more.
"We remain confident that we are positioning our business for a significant inflection point in fiscal 2025, which we believe will include new record levels of operating performance," says Take-Two CE...
Take-Two boss Strauss Zelnick believes that, while backwards compatibility is nice to have, he's "not certain it's a must-have."
Xbox boss Phil Spencer has revealed in court that Microsoft attempted a purchase of Zynga before it was acquired by Take-Two Interactive.
Official details are sparse on the next Grand Theft Auto. However, based on Take-Two's recent report, it could launch sooner than expected.
