According to Bloomberg journalist Jason Schreier, plans to rescue the Perfect Dark reboot collapsed after Microsoft and Take-Two failed to finalize an agreement, resulting in layoffs at Crystal Dynamics. Schreier’s report details how Take-Two explored acquiring the title’s rights, but negotiations stalled over unresolved terms regarding intellectual property ownership, which Microsoft retains indefinitely.

Following The Initiative’s shutdown in July, insiders confirmed efforts by core developers at both The Initiative and Crystal Dynamics to secure external backing. Take-Two emerged as a potential partner but withdrew due to disagreements over the IP’s future control. This effectively halts any possibility of the project’s revival.

Initially unveiled at The Game Awards 2020, the reboot struggled with development challenges, prompting Microsoft to enlist Crystal Dynamics’ support in 2021. The studio’s prior success with franchise revitalizations like Tomb Raider, coupled with The Initiative co-founder Darrell Gallagher’s history at Crystal Dynamics, aimed to streamline collaboration. Despite this, progress remained sluggish over the subsequent years.

A gameplay trailer debuted at the 2024 Xbox Showcase highlighted its blend of tactical gameplay, stealth mechanics, and immersive-sim elements, including parkour traversal and dynamic environments. The narrative centered on protagonist Joanna Dark exposing global corporate conspiracies masked as eco-friendly initiatives. Actress Alix Wilton Regan (Dragon Age: Inquisition, Assassin’s Creed Origins) provided motion-capture performance, while model Elissa Bibaud inspired the character’s visual design.