A sad day for the gaming industry.

Irrational Games, best known for the BioShock series, will be shutting its doors after 17 years. Co-founder Ken Levine has posted a message on the website saying he would be closing Irrational Games to “[starat] a smaller, more entrepreneurial endeavor at Take-Two (Interactive).”

In time we will announce a new endeavor with a new goal: To make narrative-driven games for the core gamer that are highly replayable. To foster the most direct relationship with our fans possible, we will focus exclusively on content delivered digitally.

Levine will be parting ways “with all but about 15” of Irrational Games’ staff. For awhile, Irrational Games’ studio will remain open for employees to assemble a portfolio. Take-Two will also be available to discuss employment opportunities and a recruitment day will be held, featuring third party studios and publishers. There will also be financial compensation.

[Source: Irrational Games]