Confirming reports circulating earlier this week, developer OtherSide Entertainment has announced that Chinese corporation Tencent has assumed control of System 3 and will be "taking the System Shock franchise forward" from this point on.
System Shock 3 was initially announced in December 2015, and the project, with Warren Spector onboard as creative adviser, seemed to be making good progress as development continued. However, things began to go awry in 2018 when original System Shock 3 publisher Starbreeze found itself in dire financial straits.
OtherSide eventually announced it had parted ways with Starbreeze last February, but pledged to continue on with development, said to be at the halfway mark by that point, regardless. Then, following the release of some promising pre-alpha footage in September, worrying reports began to circulate in February this year that not only was development "critically behind" schedule, but that the System Shock 3 team was "no longer employed" at OtherSide.