Microsoft’s Head of Xbox Phil Spencer has confirmed on Twitter that the Phantom Dust reboot, announced at E3 last year, will go ahead despite the closure of Darkside Game Studios.
@SoSensitiveOne You'd obviously like the first studio for a project to work out, sometimes that doesn't happen. Still committed to PD.
— Phil Spencer (@XboxP3) February 21, 2015
Darkside were previously working on Phantom Dust but Microsoft ended their relationship last week and the studio closed soon after. While the new developer of Phantom Dust was not announced, Spencer confirmed that Microsoft is “still committed to (Phantom Dust)”
Spencer has been good with keeping promises, so it sounds like Microsoft will find a new home for Phantom Dust, but you will be forgiven for skepticism that a niche Xbox remake gets lost in the shuffle when the studio developing it closes.