THQ is abandoning its MX vs. ATV series, shuttering two Australian studios and axing a development team at its Phoenix, Arizona office as part of an ongoing 'strategic realignment' designed to distance the company from kiddie games and licensed fare, and refocus its efforts on homemade franchises with mass-market appeal.
%26ldquo;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,%26rdquo; said Brian Farrell, President and CEO of THQ in last night's statement, continuing, %26ldquo;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.%26rdquo;
Farrell explained these most recent actions are part of THQ's larger goal to capture a more lucrative demographic, adding, %26ldquo;We are making shifts to reduce movie-based and licensed kids%26rsquo; video games in our portfolio, which underscores our strategy to move away from games that will not generate strong profits in the future...We will continue to evaluate our capital and resources to concentrate on fast growing digital business initiatives such as social games, mobile and tablet-based digital entertainment.%26rdquo;
The studio closures will affect over 200 employees, all of which THQ said are eligible to apply for jobs at any of the company's global offices. GR wishes the displaced THQ staffersall thebest in their quest for re-employment.
Aug 10, 2011