Grand Theft Auto parent company Take-Two Interactive was reportedly in discussions with Embracer Group and Microsoft to take over the in-development Perfect Dark project. 

That's according to Bloomberg, which reports that this deal would have seen Take-Two acquiring the IP from the Xbox giant, as well as funding and publishing the game. Embracer Group – which owns developer Crystal Dynamic, the studio that was working on the project – was acting as the middle man in these negotiations. 

Ultimately, the talks fell apart because the three companies couldn't decide who would own the Perfect Dark IP in the long run. 

Microsoft unveiled the Perfect Dark reboot back in 2020 with its new studio The Initiative helming the project. Crystal Dynamics joined the game's development in September 2021. The studio has made a slew of layoffs in the last year, too. 

The Perfect Dark reboot was cancelled in July as part of a massive restructuring initiative at Microsoft that saw over 9,000 staff laid off.