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Rumor: Take-Two Almost Saved The Perfect Dark Reboot – But They May Have Wanted The IP With It

September 3, 2025 by Ryan Parreno

You have your fill of giant game companies to hate here.

Table of Contents[Hide][Show]
  • What We Know About The Perfect Dark Reboot
  • What We Don’t Really Know About The Reboot
  • Take-Two, Cut!
  • Some Final Loose Ends

A new rumor has added an unexpected twist to the story of the Perfect Dark reboot. It could have been rescued from cancellation after all – but at what price?

What We Know About The Perfect Dark Reboot

This reboot was announced in 2020 and was originally made by a new Xbox Games Studio called The Initiative. In 2021, The Initiative revealed they were partnering with Crystal Dynamics on the project.

The team wowed fans with a gameplay trailer at Xbox Games Showcase 2024. Two months ago, Microsoft cancelled the game and shut down The Initiative. They also revealed that it had already been in development for 7 years.

What We Don’t Really Know About The Reboot

There were rumors that the game was in development hell at various points. But we don’t really know the extent of the game’s issues. We also don’t have a real timetable.

A lot of these rumors have come from random sources and credible journalists. But no one from The Initiative, Microsoft, or Crystal Dynamics has come forward to corroborate, except for one detail.

Adam McDonald, who was from The Initiative, refuted the rumor that the Xbox Games Showcase trailer was completely fake. He confirmed that it was in-engine and demonstrated real gameplay systems.

Take-Two, Cut!

Jason Schreier now reports that Microsoft gave the Perfect Dark reboot a second chance even after they cancelled it. At the time this was happening, an actress who worked on the game asked fans to speak up to make a revival happen.

Both The Initiative and Crystal Dyamics actually went looking for two months. They managed to get the interest of Take-Two Interactive.

Take-Two was willing buy the game from Microsoft, and then fund and publish it themselves. The deal fell through because

…the companies involved were unable to come to terms over long-term ownership of the Perfect Dark franchise…

Some Final Loose Ends

So, let’s review the story. Microsoft cancelled Perfect Dark in July. The Initiative and Crystal Dynamics took two months to find a publisher and failed.

Does that mean they just failed to secure this deal? Schreier could have gotten word about it mere hours after the final talks sizzled out. If the deal did push through, it would have been a last minute revival comparable to Tango Gameworks and Hi-Fi Rush.

It is possible that Microsoft was planning to cancel the game in April to May. If that was the case, they spent May and June finding a publisher before the cancellation on the first few days of July.

It’s certainly crazy to think that Schreier could have gotten this story mere hours after the deal fell through.

The Odds Were Highly Against This Reboot

Christopher Dring of the Gaming Business chimed in on Twitter. He opined that the game needed $ 80 to 90 million more to produce. He also claimed Microsoft already spent twice that amount.

Indeed, if you think about it, finding a new publisher was a very tall order. Embracer owns Crystal Dynamics, but they did not step in to take the game themselves. Instead, they went ahead with layoffs after the project fell through.

Some people who saw this rumor felt that Take-Two Interactive was the lesser evil over Microsoft if they rescued the game. But does this notion hold up to scrutiny?

Last year, Take-Two closed two studios, Intercept Games and Roll7, and shut down Private Division. Take-Two has a nebulous history with Intercept’s title, Kerbal Space Program.

We won’t speculate on what Embracer and Take-Two would have done as publishers and owners of Perfect Dark. But there are worse things that can happen than a game being cancelled and having some layoffs.

We wish the best for the former developers at The Initiative and Crystal Dynamics. We hope they can find placement back in the video game industry.

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Category: UpdatesTag: Crystal Dynamics, Embracer Group, PC, Perfect Dark, Perfect Dark Reboot, Take-Two, take-two interactive, The Initiative, Xbox Series X/S

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