UPDATE: Disney responded to our request for comment with the following statement:

"After a thorough evaluation, we have modified our approach to console gaming and will transition exclusively to a licensing model. This shift in strategy means we will cease production of Disney Infinity, where the lack of growth in the toys-to-life market, coupled with high development costs, has created a challenging business model. This means that we will be shutting down Avalanche, our internal studio that developed the game. This was a difficult decision that we did not take lightly given the quality of Disney Infinity and its many passionate fans."

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Disney announced it's cancelling the Infinity line, and is getting out of the business of self-publishing games altogether. A charge of $147 million "in connection with the discontinuation" of Disney's console game business affected the company's earnings.Disney released a statement regarding the series' discontinuation, promising two more upcoming sets, "including three new characters from Alice Through the Looking Glass," as well as a Finding Dory playset in June.Senior vice president and general manager John Blackburn said he wanted to "take a moment to thank" fans of the Infinity line, "not just for your support over the years, but for creating a community" around the Disney toys-to-life franchise."We hope you had as much fun playing the game as we had making it," Blackburn wrote.Earlier Disney announced it wouldn't be at E3 this June. At the beginning of March, it laid out its long-term plans for the Infinity franchise, announcing there would be no Disney Infinity 4.0 this year. Disney Infinity was the most popular toys-to-life brand coming into 2016, beating out Skylanders and Lego Dimensions thanks to the popularity of Star Wars.Correction: Originally this story referred to John Blackburn as John Blackwell. The article has been changed to correct this error.

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