IO Interactive Restructures as Project Fantasy Moves Forward Under Full Studio Ownership
IO Interactive is entering a major new chapter after regaining full ownership of Project Fantasy, its ambitious fantasy game currently in development. The studio has confirmed that the project is still moving ahead, even after the end of its external financing partnership.
In an official statement, IO Interactive said that the conclusion of its outside funding agreement has allowed the company to take back complete control of both Project Fantasy and the intellectual property behind it. Rather than shelving the game, the developer plans to continue building and funding it independently alongside its other ongoing projects.
The move follows reports that Xbox had stepped away from its publishing and financial partnership for Project Fantasy. While the loss of a major external backer could have put the future of the game in doubt, IO Interactive appears committed to keeping the project alive and bringing it forward under its own direction.
This shift also marks a broader change in strategy for the company. IO Interactive said it will now place stronger focus on its internally owned core titles, while reducing attention on external projects and mobile game spin-offs. The decision suggests the studio is prioritizing long-term control over its biggest franchises and future original properties.
However, the restructuring comes with difficult consequences. IO Interactive has confirmed that it is closing its Istanbul studio and has started the process of parting ways with employees across the company. The developer has not shared how many jobs will be affected, but the announcement makes clear that the transition will involve significant internal changes.
The studio’s decision to focus more heavily on owned franchises may also have major implications for the future of Hitman. CEO Hakan Abrak has previously stated that IO Interactive has plans for more stories featuring Agent 47. With resources now being redirected toward internally controlled projects, the popular stealth-action series could become a larger priority in the years ahead.
Questions also remain about the studio’s wider slate of projects, including future partnerships and licensed games. IO Interactive recently released 007: First Light, and while the company did not directly address the future of its James Bond work in this latest statement, its renewed focus on internal properties may signal a more selective approach to outside collaborations.
For now, the key message is that Project Fantasy is not canceled. IO Interactive is taking full ownership of the game’s future and choosing to invest in it independently. Although the restructuring brings uncertainty and job losses, it also shows the studio’s determination to build around its own creative vision, its established franchises, and new original worlds.
