(Bloomberg) -- Take-Two Interactive Software Inc.’s 2K Games has canceled an unannounced project from developer Hangar 13, according to people familiar with the decision.
The company, in its earnings statement Wednesday, said it had taken a charge of $53 million, for ending “further development of an unannounced title in its pipeline.”
The project, which was code-named Volt, had gone through multiple iterations since it was first conceived. The current version struggled due to reboots, technological hiccups and challenges caused by Covid-19, said the people, who asked not to be identified because they weren’t authorized to speak publicly.
The game, which has been in development in various forms since 2017, was set to feature superheroes competing in online game play.
Employees of Hangar 13, which also is owned by Take-Two and based in Novato, California, will meet Thursday to discuss next steps for the studio. Take-Two didn’t immediately respond to a request for comment.