Take-Two spent $53 million on a cancelled game that was never even announced
Nestled in Take-Two Interactive's most recent earnings report was information that it was charged $53 million dollars for an unannounced title that has been cancelled.
Cost of goods sold included a $53 million impairment charge related to the Company's decision not to proceed with further development of an unannounced title in its pipeline," Take-Two said in a press release.
The report did not name the title nor the affiliated studio that worked on it. However, according to a Bloomberg report, the cancelled title is from Mafia III developer Hangar 13. The California-based developer also released the Mafia: Definitive Edition in 2020.
The Bloomberg report says that according to sources at the studio, the game was codenamed Volt and...