Closes three studios and drops the MX vs. ATV franchise.

THQ today announced a "strategic realignment" of its internal studio to better realign its resources, a move which includes a shift in focus away from kids and movie-based titles, a closure of its two studios in Australia, the elimination of a development team at the company's Phoenix location and closing down the MX vs. ATV franchise.

"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. 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," said Brian Farrell, President and CEO, THQ. "As we have outlined in our business strategies, we are making shifts to reduce movie-based and licensed kids' video games in our portfolio, which underscores our strategy to move away from games that will not generate strong profits in the future."

Farrell added, "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."

THQ's five internal studios will continue on their projects: THQ Montreal will continue create an unannounced new IP with a team led by industry veteran, Patrice Désilets; Volition, Inc., will still work on the highly anticipated upcoming game Saints Row: The Third and Guillermo del Toro's inSANE; Relic Entertainment will still focus on the upcoming Warhammer 40,000: Space Marine; Vigil Games will still continue Darksiders II and next year's MMO Warhammer 40,000: Dark Millennium Online; and THQ San Diego will still work on the upcoming installment of the WWE All Stars series.

THQ has been struggling as of late trying to find a new hit title. Last month, the company dropped the Red Faction franchise after a dismal sales performance of its latest title, Red Faction: Armageddon and its digital spin-off, Red Faction: Battlegrounds.

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