Word on the street this evening is that Newcastle's own Venom are set to shut-up shop, after completing work on their most recent development, Don King's Prizefighter.

The studio was a wholly-owned subsidiary of 2K Games, but the giant US publisher clearly feel the firm is now surplus to requirements.

Venom previously crafted Rocky: Legends on Xbox and PS2, not to mention the Xbox 360 version of FPS hit Prey.

No reason has been offered for the studio's demise, but this will no doubt be viewed as yet another sign of the UK game industry's decline.

By Luke Guttridge

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