There was a real-time tactics WarZone game in development that got shelved, there are some screenshots floating around the web.
Nah, Target (the parent company that housed Target Games, the makers of Warzone/Mutant Chronicles) were already big in to video game production. That Paradox (another arm of Target back when they existed) was the only surviving part of the company is a testament to how well they were doing at the time (there are some bits of Swedish bankruptcy law that had to do with Target Games dying while Paradox continued on; but I am not a lawyer). But in the end it was Target (the main, parent company of Target Games and Paradox among others) failing due to other business choices that killed Target Games at a vulnerable period of growth (plastic production was incredibly expensive at the time and Target Games was in the middle of expanding their current ranges and starting a new one).
But Paradox thrives today, and you may even think fondly of them if you are in to historical strategy/dynasty games since they are the creators/publishers of Crusader Kings, Europa Universalis and Hearts of Iron (among others). There was a short period of time back during the Excelsior days when Paradox was looking at doing an MMO, but that died quietly alongside Excelsior (which was also around the first time the movie was being discussed and was canned; its props to be used in Ghosts of Mars).
But out of all of the old stuff Target did, the PC games branch was the only bit of 'em that survived the collapse. It is a shame Paradox has never used their licenses to make proper games in the Chronopia and Mutant Chronicles universes. A game like Crusader Kings where you play a high-ranking family in one of the Megacorps would be a wonderful thing. It even has a similar dynamic going what with the Brotherhood being a stand-in (in terms of power and influence) for the Catholic Church and the Dark Legion working well as an Outside-of-Context problem for them to launch crusades against. Seems like it would be right up their alley.