As part of its cost-cutting plans, Take-Two is reportedly closing two studios under its Private Division publishing arm: Intercept Games and Roll7. However, Take-Two has not appeared to confirm these closures at all.

In response to IGN, Take-Two CEO Strauss Zelnick said when asked about the closures during the company's May 16 earnings call that the company has not closed those studios. "We have not closed those studios, just to be clear. And we always look at our release schedule for all of our studios to make sure it makes sense. So we're being very judicious because we're in the middle of a cost-saving program that we've already completed and are fully rolling out now," Zelnick said, adding that while the company is cutting $165 million in costs, it hasn't closed anything.

The PR rep clarified that the company announced a cost-reduction plan last month, which amounts to a staff reduction of approximately 5 percent, or 550 employees, but did not provide a "label-by-label breakdown of what that looks like" and declined to provide additional details on whether or not the studios exist.

A note shared by Jason Schreier on May 16 following the original report said the company is under pressure to “find efficiencies and drive profitability” due to cutbacks in signing new game prototypes and several titles not reaching their potential, and suggested closing the Roll7 studio. The original report also said Take-Two plans to lay off 70 people and close an office in Seattle, where Intercept Games is based, with about the same number of employees.