2K Games, Take-Two's new publishing label, is set to co-publish The Elder Scrolls IV: Oblivion after its mother-publisher struck a deal with developer Bethesda Softworks, who will continue to direct development and retain all future rights to the franchise. Not a bad deal for Bethesda by any stretch of the imagination.
2K Games has undertaken to publish Oblivion in late 2005 on PC and "a next-generation console system" - presumably Xbox 2, since neither of the others will be out in that timeframe.
Oblivion, EG contributor Ronan's most wanted of 2005 going on his frenzied emails about it late last year, adds another layer of graphical beauty to familiar, open-ended adventure gaming, and looks like it could be one of this year's biggest PC titles - critically and, 2K Games will be hoping, now commercially.
In a separate deal with Bethesda, 2K Games has also agreed to co-publish Call of Cthulhu: Dark Corners of the Earth, a Lovecraftian first-person horror game that you can read more about here.