Irrational Games, best known for the critically acclaimed BioShock series, has announced they are closing their doors permanently. Ken Levine, renowned Creative Director and founder of the company, will be transitioning to Take-Two, and has plans to start another, smaller developer.

Aside from the obvious disappointment of the company’s employees that are laid off as a result, the future can’t look great for the BioShock brand. For now, creative control and assets have been handed over to Take-Two, but even if the franchise is launched again, there’s no telling how it will turn out – game series that have been handled by different developers have a spotty record.

The news that BioShock 4 might never happen is unfortunate, and you wonder why it came to this. Did Infinite under-perform? Or did it too fine, but the company was struggling with finances from another source? At this point, it’s hard to say. No word yet on how, and if, this will affect BioShock Infinite’s DLC Burial at Sea: Episode 2.