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I'm usually loath to post rumors, but this one is especially interesting to me.

I guess Gamekult is reporting that Michel Ancel will soon leave Ubisoft, and may take many of the Rayman development team with him.

Ubisoft has since denied the rumor.

Gamekult also reports that the Rayman delay was due to a disagreement between Ubisoft and Nintendo about distribution and marketing.

Source: http://www.gamefocus.ca/news/19265.html

If true, we might never see Beyond Good & Evil 2 :(