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THQ Results: InSane Cancelled

THQ's Fiscal 2013 First Quarter Results are online, revealing losses for the period, albeit not as large as projected. Still the new is not good, and is followed by the worse news from a post-earnings conference call that the company has cancelled preproduction of InSane, a high profile collaboration with Guillermo del Toro, saying the rights to the property are being returned to the Hollywood director. "We have decided not to pursue further pre-production on Insane, and have returned all of our IP rights to Guillermo del Toro," said THQ president Jason Rubin. "By canceling these explorations outside of our core business, we feel we can improve focus on our core game portfolio, which remains unchanged." This prompted George Broussard to tweet: "THQ is done. Will just be a year or so going through the paces. Will see how Darkstalker 2 team fares post ship."

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