Joel Jewett, co-founder and president of Neversoft, has confirmed that his company is no longer working on the 
Tony Hawk franchise.
This comes via 
Great Falls Tribune in Montana which, in an article on Jewett, reports "the company has let the 
Tony Hawk series go to another developer". Jewett then comments, "It's probably best for the franchise ... it's time for someone else to add fresh ideas to it".
The wording indicates that the Activision Blizzard-owned company, which has most recently been working on the 
Guitar Hero franchise, opted out of the 
Tony Hawk series. It could be that the developer, seeing the 
Tony Hawk series stagnate and suffering from competition from EA's 
skate., jumped ship in favour of the ever-popular 
Guitar Hero stable.
A less generous interpretation would be that Activision saw its skateboarding property suffering and decided Neversoft wasn't up to dealing with it.
It was rumoured a while ago that Neversoft was moving on to pastures new. At the time, it was said that start-up independent developer Robomodo was taking the reins on 
Tony Hawk. This remains unconfirmed, but the company's 
website tells us, "We are currently working on a high-profile extreme sports title for Activision Blizzard." Seems like a good bet that 
Tony Hawk is it, eh?
Activision has said in the past that it plans to give the 
Tony Hawk series a serious makeover, with it having been hinted that 
PS3 and Xbox 360 balance board peripherals are in the works for the franchise.
Neversoft created the 
Tony Hawk series. According to Jewett, the franchise has now reeled in $1billion in sales.
Source: Great Falls Tribune