Newcastle-based studio Venom Games is set to close, according to a report by CVG.
The studio was founded in 2003 after the collapse of Rage Newcastle and acquired by 2K later in 2004. It worked on Rocky: Legends prior to the buy-out and has since handled the Xbox 360 versions of Prey and, most recently, Don King's Prizefighter. It is the publisher's only UK-based development studio.
CVG's sources claim that the developer is to close at the end of the month, and that employees were notified of the closure earlier today. It also reports that the studio was tasked with a PS3 version of Bioshock to be released simultaneous with the Xbox 360 and PC versions, but 'said it wasn't possible' - a project now being handled by the newly-formed 2K Marin studio.
Venom representatives were unavailable to comment at the time of writing.