THQ Closes Studios and Reconsiders Methods
This week THQ started out strong when they closed five of their studios following the stock tumble that the company faced. These studios were namely: Paradigm Entertainment, Mass Media, Helixe, Locomotive Games, and Sandblast Games. Added to that they cut the workforce at at Rainbow Studios and Juice Games (250 people which represents 17% of their developers).
Brian Farrell, CEO of the firm wants to refocus on more targeted and quality titles as opposed to releasing too many unpolished titles.
While this is certainly a step in the right direction THQ wants to increase its fighting games which include WWE wrestling and UFC combat.
Apparently investors didn’t like this news because they traded the stock down nearly 22 percent, down $1.44 to $5.11. Sometimes I really wonder why we still indulge Wall Street.
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