Update: A press release expands on Netflix's BioShock announcement, confirming that the project will be produced by 2K and Vertigo Entertainment of The LEGO Movie fame.
“Netflix is among the best and most forward-thinking storytellers in all of entertainment today,” said Take Two boss Strauss Zelnick. “We are thrilled that they share our vision and commitment to the BioShock franchise, which is beloved by millions of fans around the world. 2K’s Cloud Chamber studio is deep in active development on the next iteration of the series, and coupled with our partnership with Netflix, we remain highly confident that BioShock will continue to captivate and engage audiences like never before.”