THQ announces a shakeup that is resulting in the closure of its two Australian studios, as well as its game development team at their Phoenix location, though their Quality Assurance team in Phoenix remains. Approximately 200 employees have lost their jobs as a result. Word is: "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." Here's an explanation of their refocus going forward:

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 Heroes and 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.