Home › DMW Daily › March 18, 2009

THQ to Spin-off Two Game Studios, May Shutter a Third

Authored by Mark Hefflinger on March 18, 2009 - 8:55am.
Agoura Hills, Calif. - As part of its previously announced plan to cut costs, video game publisher THQ (NASD: THQI) will spin off two of its development studios, and told staff at a third that it will be shut down if the company cannot find a buyer, GameDaily reported.

Los Angeles-based studio Heavy Iron, and Carlsbad, Calif.-based Incinerator will be spun out as independent companies, while Timonium, Md.-based Big Huge Games is facing closure if it a buyer is not found "in the near future," THQ told GameDaily.

"These actions were unfortunate but were necessitated by the difficult economic environment."

The company said last month that it would cut 24% of staff, or about 600 employees, as part of a plan to cut costs by $220 million.

 

Related Links:
http://snipurl.com/e35w3 (GameDaily)

http://www.thq.com

Published in DMW Daily, March 18, 2009
tags: Games | Deals | THQ | Layoffs | Big Huge Games | Heavy Iron | Incinerator |



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