Following rumours of Team Bondi being acquired by KMM, further online reports have suggested that the studio is filing for bankruptcy. The staff still working at Team Bondi will be moved over to work at KMM, who is currently working on the video game tie-in for movie Happy Feet 2.

The not so great news, if reports of poor work conditions at Team Bondi are 100 per cent accurate, is that many staff who joined KMM during the production of LA Noire will be reunited with former boss Brendan McNamara.

According to the source on NeoGAF, Rockstar owns the LA Noire IP so KMM wouldn't be getting the rights to develop further games in the series.

Carry on the conversation on the VideoGamer forums!