Updated: Activision shutting down Bizarre and Budcat studios?

Anonymous development sources inside Iowa City-based Budcat Creations phoned into PC Gamer this morning to inform us that instead of developing games this morning, they're sitting in a bar down the street drinking together and calling friends and family. The reason? When they arrived at work this morning they found security guards outside their office building and "too cheerful" consultants brought in to tell them they're all being let go. Similar reports are coming out of UK developer Bizarre Creations, who made Blur for Activision just this year.

Update: Activision is taking 90 days to decide what to do with Bizarre Creations: restructure, sell, or close.

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