Disney has confirmed the closure of Junction Point Studios today. Junction Point was headed by Warren Spector, creator of the Deus Ex series. Junction Point lead the development of the Epic Mickey games.
Epic Mickey 2 failed to capture the sales Disney was hoping for. The game sold a fraction of what the original game pulled in for the Wii, despite going multiplatform the second time around.
Disney released this official statement, confirming Junction Point's closure:
"It was with much sadness that we informed our teams today of changes to our Games organization, which include the closure of Junction Point Studios. These changes are part of our ongoing effort to address the fast-evolving gaming platforms and marketplace and to align resources against our key priorities. We're extremely grateful to Warren Spector and the Junction Point team for their creative contributions to Disney with Disney Epic Mickey and Disney Epic Mickey 2."
Spector had stated that he was hoping to continue to make more Disney games. What's next for Spector and the Epic Mickey team is unknown, however Nintendo's Retro studios has already picked up some of the staff.
Keep checking back for more news as it develops.