Company Increases Emphasis on High Potential Categories; Reduces
Focus on Kids and Movie-Based Licensed Titles for Consoles
THQ
Inc., (NASDAQ:THQI) today announced a strategic realignment of its
internal studio development teams to better align resources with the
company's future portfolio of interactive entertainment. THQ is in the
process of transitioning its portfolio away from licensed kids titles
and movie-based entertainment properties for consoles and has also
decided not to actively pursue further development of the MX vs. ATV
franchise at this time. As a result, the company announced the closure
of two studios in Australia, and the elimination of a development team
at the company's Phoenix location. The company is maintaining its
Quality Assurance team in Phoenix.
THQ's five internal development studios are focused on key initiatives
and franchises: THQ Montreal, creating an unannounced new IP with
a team led by industry veteran, Patrice Désilets; Volition, Inc.,
developing the highly anticipated upcoming game Saints Row®: The
Third,™ and inSANE™ in collaboration with renowned film
director Guillermo del Toro; Relic Entertainment, creators of Company
of Heroesand the upcoming Warhammer 40,000®: Space Marine™
for PlayStation 3 computer entertainment system and the Xbox 360 video
game and entertainment system; Vigil Games, developing Darksiders®
II and next year's MMO Warhammer 40,000: Dark Millennium Online™;
and THQ San Diego, developers of WWE All Stars and
creating best-in-class fighting games.
Today's actions will result in a personnel reduction of approximately
200 people. All affected employees are eligible to apply for open
positions within the company globally.
"With this realignment, we are narrowing our focus to high-quality owned
IP with broad appeal that can be leveraged across multiple platforms,
and to work with the best talent in the industry. By right-sizing our
internal development capacities for our console portfolio, our five
internal studios are focused on delivering high-quality games with
talented teams driving the execution of those titles to market," said
Brian Farrell, President and CEO, THQ.