According to a new industry report, Take-Two Interactive came close to acquiring the cancelled Perfect Dark reboot from Xbox before negotiations fell apart. The project, which had been in development at The Initiative with support from Crystal Dynamics, was considered a major revival of Rare’s classic franchise but had faced persistent production setbacks.
A Rocky Development Cycle
The Perfect Dark reboot was first announced in 2020 as a flagship Xbox exclusive. However, the project reportedly suffered from staff turnover, creative conflicts, and delays. Despite efforts to reposition the game as a “spy thriller for a new generation,” internal challenges prevented significant progress, leading Microsoft to quietly halt development earlier this year.
Take-Two’s Interest in Reviving the Franchise
Take-Two, best known for Grand Theft Auto, Bioshock, and Borderlands, reportedly entered talks with Microsoft to acquire the struggling project. Sources suggest the publisher saw potential in the reboot as a high-value addition to its portfolio of established franchises. Negotiations advanced, with both sides exploring terms of transfer and creative control.
Why the Deal Collapsed
Insiders claim that despite progress, the discussions collapsed due to disagreements over financial terms and the extent of creative freedom Take-Two would have after the acquisition. Microsoft was reportedly hesitant to give up full ownership of a franchise with deep roots in its history, while Take-Two sought more control to reimagine the project on its own terms.
The Future of Perfect Dark
With the talks falling through, the reboot’s future remains uncertain. Fans who have long awaited Joanna Dark’s return may have to wait even longer—or accept that the franchise could remain dormant. The situation also raises broader questions about Xbox’s first-party management strategy and its ability to deliver on high-profile exclusives.