A recent report from Game File alleges that Xbox had plans in motion to either close Ninja Theory or part ways with the studio prior to the recent announcement of its third Hellblade title, Senua. This alleged strategy involved revealing the new game with the expectation that it would attract investors to fund the studio independently following a potential split from Xbox.
Ninja Theory's potential closure is part of a larger rumored restructuring within Xbox's gaming division. Compulsion Games, known for South of Midnight, and Double Fine, creators of Psychonauts, have also been cited as potentially at risk. The inclusion of Ninja Theory among these studios was particularly unexpected, given the reveal of Senua less than two weeks prior at the Xbox Games Showcase.
Sources familiar with Microsoft's plans, speaking anonymously to Game File, suggest that the announcement of Senua was part of a calculated effort to improve Ninja Theory's prospects in a potential sale or independent funding scenario. It remains unclear if Ninja Theory's leadership was privy to these plans.
Neither Xbox nor the studios mentioned have officially confirmed the reports. However, The Verge has previously reported that Ninja Theory has already ceased operations and is actively seeking a buyer. These alleged studio closures follow a stated intention by Xbox CEO Asha Sharma and chief content officer Matt Booty to implement a "reset" for the Xbox division, which is expected to include significant layoffs.
Senua is described as a full action-adventure title with an enhanced focus on combat. It is currently slated for a 2027 release on PlayStation 5, Xbox Series X/S, and PC.