MTV Games is closing for good now the final sale of Harmonix has been completed by parent company Viacom, reports indicate.
The studio decided to put Harmonix up for sale last year after Rock Band 3 made significant losses at retail - despite a very strong critical showing. Despite protestations that several parties were keen on buying the studio, negotiations turned sour as Harmonix issued a lawsuit against Viacom, accusing them of manipulating figures to avoid paying performance bonuses.
Eventually, Harmonix was purchased by a private investment group, Columbus Nova, essentially leaving them as an independent studio.
It's not thought that Viacom will be making any further attempt to penetrate the video games market at this point.