LucasArts, the iconic studio that brought us the Monkey Island Series, Loom, the Indiana Jones games and Grim Fandango has been shut down by their parent company, Disney.

A statement from LucasArts was released stating the reason for their closure:

"After evaluating our position in the games market, we've decided to shift LucasArts from an internal development to a licensing model, minimizing the company's risk while achieving a broader portfolio of quality Star Wars games. As a result of this change, we've had layoffs across the organization. We are incredibly appreciative and proud of the talented teams who have been developing our new titles."

Talented teams indeed …that are now unemployed. What a sad day for the games industry.