According to EGM's Shane Bettenhausen in the latest 1UP Yours podcast, there's going to be some bad news coming from the Microsoft camp this week.

Talking on his podcast, Shane says he has insider info on an unconfirmed rumor that "a big Microsoft first-party title that has been in the works for a very long time that people are very excited for, sounds like it's being canceled. And a Microsoft executive who's pretty high up, who's been a voice for the company, sounds like he's on the way out". Shane says that he believes the news to be 97% true and has an inkling that Microsoft will be making the announcements sometime this week.

So, if the rumor is true, what game and which Microsoft exec will be getting the boot? We figured the obvious target to be Rare's "where the heck have you gone, we haven't heard from you for a long, long while" Banjo-Kazooie 3, but today Rare confirmed that the game is still in development. So, no dice there. Rumor? Truth? Who knows, but feel free to speculate all you want ... now.

[Thanks, THA1icarus]

This article was originally published on Joystiq.

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