According to a Financial Times report, representatives for the Beatles are talking to both Activision and MTV, the owners of Guitar Hero and Rock Band respectively, about creating a "Beatles-themed game".
The FT's source claimed the deal could be worth "several million dollars", and said agreement could be reached in the next few weeks. However, Apple Corps - the company that manages the interests of the popular half-dead Liverpudlian beat combo - is notoriously slow to embrace new distribution opportunities, or any kind of licensing. The band's legendary catalogue is still not available on iTunes due to legal disputes with Apple Computer.
Activision did not comment, while MTV claimed simply to be talking to "virtually every major rock artist all the time". It is not clear whether the discussions revolve(r) around making the Beatles catalogue available as downloadable content for existing versions of Guitar Hero or Rock Band, as part of future sequels, or as a standalone music game.
Neither does the report specifically mention exclusivity to either series, though that seems to be assumed
A Beatles deal could be a decisive factor in the struggle between Rock Band and the upcoming Guitar Hero World Tour. We'll be watching this one with interest.