
Frank Castle is in dire need of another video game and we have a few developers in mind that should make the project a reality.

Microsoft announced its financial results for Q3 of fiscal year 2026, including an update on its gaming Xbox business and more.
Not looking good. Hopefully Asha Sharma is able to turn Phil’s disaster around.
To me it's still quite remarkable how they can cash-in 5.3bn in revenue in a single quarter, since their hardware is basically dead.

Spiders: "We're going to cut straight to the chase so you're not left wondering: After a long period without clear answers, we have received confirmation that Spiders is being liquidated.
What does it mean? This means the company as a whole no longer exists. We'll cease our functions immediately. The planned DLC will release via Nacon, and then-- well, that's it.
We're sorry that it's come to this and would like to thank each and every one of you for your support over the years.
If you have any questions or run into issues with your games, please contact Nacon directly as we'll no longer be able to reply."

Today, Koei Tecmo announced its financial results for the full fiscal year 2025, related to the period between April 2025 and March 2026.
Meeeh, i mean really? These three? Sorry, but as talented as these teams may be I don't think a Punisher IP should go to them.
Dennaton Games, definitely should get the Punisher IP. They already have the gritty action style down with a surreal storyline to follow. It could easily translate into a Punisher game.
Playdead, I can see them making a Punisher game set in the underbelly, seedy streets of New York. It would be interesting to also see their take on the anti hero.
Remedy Entertainment, they seriously need that one game to put them over the top. I feel they excel in a few things but always fall short in another. I think with an actual established IP like Punisher they could create something great because they now have the reference material to pull from.
Rockstar Games, obviously since they worked on Max Payne 3, I think they could definitely create an open world New York City and put Punisher in the middle wrecking shop
I'd say
Machine Games
Remedy
id
Tbh though, I believe Insomniac could do a great job, Sony Bend, even Avalanche or Digital Extremes. Obviously Naughty Dog could do it. Maybe a VR game by Sony London?
The Punisher on PS2 was such a great, underrated game. I would love to see Volition return to make a new one. Maybe even Naughty Dog, now that they have an Uncharted void to fill.
I can't see Naughty Dog working on a licensed property. The studio seems more suited to their own IPs. Remedy would likely think the same way, but after seeing what Insomniac Games did with Spider-Man, they might take such a risk. And although Insomniac hit a home run with Spider-Man, I doubt that they would want to be only working on games based on Marvel characters. As mentioned earlier by @IamTylerDurden1, Machine Games would be a good choice.