Activision Blizzard is expected to offload newly-acquired label Sierra, publisher of the Ghostbusters videogame, but that doesn't necessarily mean that the game is dead in the water, Edge-Online has learned.

Jeff Mills, director of production at Austin, Tex.-based Red Fly (developer of the Wii, PS2 and DS versions of Ghostbusters) confirmed in a phone interview Tuesday that Activision will not be publishing Ghostbusters.

Not all hope is lost, however. Asked if Sierra would still publish the game if Activision Blizzard sells off the label, Mills said, "That's all up in the air right now," adding, "It will be published by someone."

Terminal Reality is developing the Xbox 360, PS3 and PC versions of Ghostbusters.

A rep for Activision elaborated on the situation for Edge Online, stating, "Activision Publishing is retaining those franchises that are a strong fit with its long-term strategy including Crash Bandicoot, Ice Age and Spyro, as well as two new intellectual properties that are currently in development -- Prototype and a second game that has not yet been announced."

The rep continued, "The company will not publish other titles that previously were part of the Vivendi Games portfolio and we are currently reviewing our options regarding these titles."

Some of those "other titles" include Ghostbusters, 50 Cent: Blood on the Sand and Brutal Legend.