Last year Activision acquired RedOctane and the license for their very popular Guitar Hero game franchise for $91 million. It seems the investment has paid off with the extraordinary success of Guitar Hero II for PS2 which has sold more than 1.5 million copies raking in an estimated $114M. Well, it appears to be there is going to be some serious competition for it as Harmonix the original developer of Guitar Hero, which was bought by MTV Networks, is now working with Activision's archrival, EA, to publish a new MTV branded game that might to put Guitar Hero to the test.

There hasn't been any official announcement about what the game will be named or when it will be launched but Alex Rigopoulos, co-founder of Harmonix, said "the project we're working on is by far, by far our most ambitious undertaking ever." On a side note, Guitar Hero II launch for the Xbox 360 is scheduled for an early next month release.