Microsoft has officially canceled the Perfect Dark reboot and Rare's fantasy title Everwild, while also closing The Initiative, the Santa Monica-based studio behind Perfect Dark.

The Microsoft-owned gaming division continues to make deep cuts following its aggressive studio acquisition strategy over the last several years.

With fans eagerly anticipating Perfect Dark's launch, this cancellation will no doubt be disappointing. Read on to learn more about Perfect Dark's past, including its troubled development cycle as a "AAAA" game.