In a Quarterly and Calendar Year 2010 Financial Results release yesterday, Activision Blizzard has announced that it will no longer continue development of Guitar Hero and the True Crime series.

At the same time, due to continued declines in the music genre, the company will disband Activision Publishing’s Guitar Hero business unit and discontinue development on its Guitar Hero game for 2011. The company also will stop development on True Crime: Hong Kong. These decisions are based on the desire to focus on the greatest opportunities that the company currently has to create the world’s best interactive entertainment experiences.

From the Activision Blizzard corporate press release site.