THQ puts dent in analyst doom-mongering and denies game cancellations

THQ has poured cold water on weekend speculation that it had closed down production on games due for 2014.

Yesterday, a US analyst claimed on Twitter that the firm had canned its ’14 slate, ditched its long in the making Games Workshop MMO, relinquished control of Disney kids’ games licences, and was preparing to shape the business up for a sale to a third party.

But this morning, executive vice president of global publishing Ian Curran sent MCV a thorough denial and statement from the firm which says the rumours are not true.

THQ has not cancelled its 2014 line-up, and has not made any decisions regarding the planned MMO," the statement reads.

"As part of the ongoing review of our business, we have made decisions to ensure that the company is strategically addressing the most attractive markets."

The statement also refers to changes in the casual and kids games market, its strategy for which it announced last year.

"As we have previously announced, we have dramatically reduced our commitment to the kids’ boxed games sector which leads to a significantly more focused release schedule moving forward."

The statement does not make reference to the speculation that it is for sale – but then again, it was never expected to.

But the firm is resolute about its upcoming games.

The comment adds: "Our slate for calendar 2012 and beyond is focused on high-quality core games and continues to build our digital platform and business. We are excited for our pipeline of original and high-quality content along with our relationships with some of the best talent in the industry."

THQ also moved to remind the trade of its successes of late – despite down-revising its Q3 FY guidance by 25 per cent due to slower than expected sales of its uDraw 360/PS3 product – in the face of a pressured games market.

"Additionally, we are thrilled with the great performance of Saints Row: The Third, which on a like for like period in North America has tripled in sell-through from Saints Row 2. In addition, WWE ’12’s worldwide sell-through sales are up almost 40% year-over-year for the same sales period with fewer platforms.

According to NPD, for the month of December and the 2011 year, THQ was the No.5 publisher overall, No.4 third party, with reported sell through growing over 18 per cent in a market that was down almost 6 per cent. And coming up next, we have two great titles for the first half of the year including UFC Undisputed 3 and Darksiders 2.”

THQ is expected to announce its Q3 2012 fiscal results next month.

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