I wonder if this will manifest in a single studio being cut, or in general job cutting across the whole division.
Microsoft Games Studios (according to wiki)
* ACES Game Studio: Flight Simulator series, Combat Flight Simulator series and the upcoming Train Simulator 2
* Lionhead: Black & White series, The Movies, Fable series
* Rare: Perfect Dark series, Kameo, Conker series, Banjo series, Viva Piñata
* Turn 10: Forza Motorsport series
* Wingnut Interactive: A new studio set up in conjunction with Peter Jackson (they will be producing alongside with Bungie Studios a new game based in the Halo universe)
* Xbox Live Productions: A new first-party studio set up to develop Xbox Live Arcade games and digital video content.
I think Rare and Xbox live Productions are both safe, and presumably Lionhead and Turn 10 are too.
Aces or Wingnut could close







