The original incarnation of the studio was closed by Interplay in 2003, amidst massive financial problems. Most of its members almost immediately reformed themselves as Obsidian Entertainment.
To work on a new RPG project, Interplay restarted Black Isle Studios. Taking in a project previously worked on by Masthead Studios, Black Isle Studios began work on Project V13. To fund the game, Black Isle launched the Black Isle Mayan Apocalypse Replacement Program. The campaign was negatively received, due to a lack of rewards beyond access to a proposed forum and the end product being a prototype. All references to Poject V13 have later been removed without any comment or refund, and nothing else has been heard from it again. In 2016, Interplay sold off all of its video game IP's, putting an end to the revived Black Isle.
Games developed by Black Isle Studios:
- Icewind Dale: Heart of Winter (2001)
- Icewind Dale: Heart of Winter - Trials of the Luremaster (2001)
- Icewind Dale II (2002)
- Baldur's Gate: Dark Alliance II (2004)
- Fallout: Van Buren (canceled)
Games published by Black Isle Studios:
- Baldur's Gate (1998)
- What Could Have Been: The studio was working on various projects that were cancelled.