Activision Axes Guitar Hero Business Unit

In it's quarterly financial statement Activision has stated that the Guitar Hero business unit will be disbanded.  In addition, the 2011 iteration of the franchise has been cancelled.  Quoting from the release:

"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 publisher did not go on to say whether or not the entire franchise was in danger, though this is certainly not good news for fans of the series.