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Today's official announcement of Mafia 3 comes after years of rumors and speculation about it. In March 2012, it was reported that Mafia II developer 2K Czech working on a third entry in the series. At the time, the studio had supposedly entered full development on Mafia 3 following a year of pre-production work.
Later that year, another report said Mafia 3 was in development at 2K Czech for Xbox One and PlayStation 4, and was going to be a launch title for those platforms. However, the game reportedly suffered from production issues, and those plans were apparently abandoned.