It appears as though Microsoft Studios is clearing house when it comes to development studios.
Yesterday, Microsoft Studios Europe announced that developed on Fable Legends, a multiplayer arena take on the Fable IP, has ceased due to the closure of Lionhead Studio, along with the development studio Press Play Denmark.
Since the announcement, another five studios have disappeared from the Microsoft Studios website, without so much as a word from Microsoft. Kinect Joy Ride developer BigPark, Function Studios, Good Science, LXP and SOTA have all been removed.
Microsoft has not made an official announcement on the disappearance of the studios, but it is speculated that the studios were removed due to their involvement with the Hololens.
As noted by VideoGamer, the Microsoft Studios page looked like this on March 4th (Google Cache):
This is how it looks today:
