Activision has unleashed a flurry of hot news onto the internet after a recent financial report. The company reported its net losses as well as some notable net profits, including a 20% increase in digital distribution.
Sales numbers aside, the biggest news from the company came when Activision announced that True Crime: Hong Kong had been canceled and that the Guitar Hero franchise would officially be shelved. This comes as suprising news to say the least, and it spells the obvious cancelation of the Guitar Hero title that was slated for release this year. Activision stated that “declines in the music genre” were the main cause for the series’ surprising halt.
DJ Hero and Tony Hawk are also going to see a bit of stagnation as Activision declared that neither franchise would see representation in 2011. The reason for slowing the production of DJ Hero titles is due to the costs that licensing and manufacturing require, which come at a high price for the company.
In an attempt to cut costs even further, Activision will be releasing nearly 500 employees for a total of seven percent of the company’s entire staff. This is major news, and for those who are let go, it’s obviously bad news. We wish them the best of luck.
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