Activision Blizzard Halts Guitar Hero Franchise, Will Lay Off 500

Gamers who buy the annual Guitar Hero releases will have some extra spending money this year, because publisher Activision Blizzard announced it will release no music games in 2011.

It also canceled True Crime: Hong Kong and revealed it will lay off 500 people.

Gamasutra reports the moves are part of a philosophical change within the company, which was accused of driving Guitar Hero into the ground with repeated, un-inventive sequels.

In a statement released with its quarterly and annual fiscal 2010 results, the company said it plans to “invest its capital and resources in the significant opportunities afforded by online gaming worldwide and will reduce its exposure to low-margin and low-potential businesses.”

Translation: “No more stupid plastic instruments. And Call of Duty and World of Warcraft players, we will think of ways to suck more money out of all y’all.”

Activision Dissolves Guitar Hero Business, Refocuses On Digital [Gamasutra]