The closure of a studio is never something to celebrate, but at least the Neversoft team went out in a (quite literal) blaze of glory.
The Tony Hawk and Guitar Hero developer was closed today and the team is being merged with Infinity Ward,as announced back in May.
The new mega-studio will presumably be dedicated to Call of Duty, which is being handled by Sledgehammer Games this year while Infinity Ward bulks up. With Treyarch still tied to the franchise, Activision is now operating a three-year development cycle for the franchise.
Develop has more details.