Project Shifts from MMO Business Model
AGOURA HILLS, Calif.--(BUSINESS WIRE)--Mar. 29, 2012--? THQ Inc.?(NASDAQ:THQI) today announced that it has refocused? Warhammer? 40,000?: Dark Millennium™? from a Massively Multiplayer Online game to an immersive single player and online multiplayer experience with robust digital content, and engaging community features. Further product details, platforms and release timing will be announced at a later date.
“As previously announced, we have been actively looking for a business partner for the game as an MMO. However, based on changing market dynamics and the additional investment required to complete the game as an MMO, we believe the right direction for us is to shift the title from an MMO to a premium experience with single and multiplayer gameplay, robust digital content and community features,” said?Brian Farrell, President and CEO of?THQ Inc.?“Because we believe strongly in the high-quality and vast creative work that is in production, this is the right decision for both our portfolio and for gamers devoted to this powerful property.”
“We are genuinely excited about the new direction that THQ is taking with? Warhammer 40,000: Dark Millennium, and we are sure that this will be a great addition to the ever growing stable of authentic and engaging Warhammer 40,000 video games,” said?Jon Gillard, Head of Licensing forGames Workshop.
As a result of this change, team sizes at two THQ internal studios will be reduced by 79 full-time employees at Vigil Games in?Austin, Texas, and 39 employees at?Relic Entertainment?inVancouver, B.C.
Vigil Games will continue to focus on both this game and the critically-acclaimed new title, Darksiders? II, scheduled for release this summer.?Relic Entertainment?continues to focus its development expertise on THQ’s franchises including? Company of Heroes?? and? Warhammer? 40,000?:? Dawn of War?.
THQ Inc.?(NASDAQ: THQI) is a leading worldwide developer and publisher of interactive entertainment software. The company develops its products for all popular game systems, personal computers, wireless devices and the Internet. Headquartered in?Los Angeles County, California, THQ sells product through its global network of offices located throughout?North America,?Europe?and?Asia Pacific. More information about THQ and its products may be found at http://www.thq.com. THQ and the THQ logo are trademarks and/or registered trademarks of?THQ Inc.
Warhammer 40,000: Dark Millennium, Warhammer 40,000: Dawn of War - Copyright? Games Workshop Limited 2004 - 2012.?Dark Millennium, Dark Millennium Online, the Dark Millennium Online logo, Dawn of War, the Dawn of War logo, Dawn of War 2, the Dawn of War 2 logo, GW,Games Workshop, the?Games Workshop?logo, 40K, Warhammer, Warhammer 40,000, Warhammer 40,000 Device, 40,000, the Double-headed Eagle device and all associated marks, logos, places, names, creatures, races and race insignia/devices/logos/symbols, vehicles, locations, weapons, units and unit insignia, characters, products, illustrations and images from the Warhammer 40,000: Dark Millennium game, the Warhammer 40,000: Dark Millennium Online game, the Warhammer 40,000: Dawn of War game, the Warhammer 40,000: Dawn of War 2 game and the Warhammer 40,000 universe are either?, TM and/or??Games Workshop Ltd?2000-2012, variably registered in the?UK?and other countries around the world, and used under license. All Rights Reserved.
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This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the business of?THQ Inc.?and its subsidiaries (collectively referred to as“THQ”), including, but not limited to, expectations of video game console and software growth, financial guidance, estimated release dates and the potential for online gaming.? These statements are based upon management’s current beliefs and certain assumptions made by management. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, business, competitive, economic, legal, political and technological factors affecting our industry, operations, markets, products or pricing. Readers should carefully review the risk factors and the information that could materially affect THQ’s financial results, described in other documents that THQ files from time to time with the?Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal period ended?March 31, 2011?and subsequent Quarterly Reports on Form 10-Q, and particularly the discussion of trends and risk factors set forth therein. Unless otherwise required by law, THQ disclaims any obligation to update its view on any such risks or uncertainties or to revise or publicly release the results of any revision to these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.?