We won’t have to wait until THQ’s conference call tomorrow to learn about all the grim news. The company released its latest SEC (Securities and Exchange Commission) filing and it doesn’t look good. Instead of letting go an estimated 140 employees as suggested by earlier rumors, THQ will actually be sending 240 “selling, general and more »

The Red Faction series has had a good run, but THQ has decided it’s time to hang it up. Following the disappointing reviews and sells for both Red Faction: Battlegrounds and Red Faction: Armageddon, THQ doesn’t see a reason why the franchise should continue as it is now.

Transmedia is THQ’s favorite world these days. THQ has adapted this strategy to make its games appeal to a broader audience. For example, a novel will accompany the release of Homefront, WWE games are appearing at live events and WWE television programs and movies are being made based on Red Faction and Saint’s Row. Some of these products come at no cost to THQ, so it can put the money it saves into new endeavors.

Today (November 3, 2010), THQ announced the results of its fiscal second quarter which ended on September 30, 2010. THQ’s net sales totaled $77.1 million as opposed to $101.3 million during the same period last year. As far as losses go, THQ lost $47 million this past quarter compared to $5.6 million last year. This isn’t the best quarter THQ has been a part of, but the company remains optimistic of its performance in the months ahead.

THQ has been implementing new ways to market its games and maximize profit. It has entered into a transmedia agreement with the SyFy channel to produce a television series based on the Red Faction franchise. The show will air around the time Red Faction Armageddon releases in 2011. In addition to cross promotions such as this, THQ will experiment with lowering the retail price of one of its franchises in an effort to bring in more revenue through downloadable content.

There has been nauseating levels of acquisition talk in the videogame industry the past couple of months. Although EA hasn’t yet been successful in acquiring Take-Two, another major publisher is getting ready to go shopping for game companies. According to Reuters, game publisher THQ is contemplating a takeover. This leaves us to the question, is it among the mysterious “other bidders” that Take-Two talks about very often?

THQ CEO Brian Farrell told Reuters on Thursday (May 3, 2008) that there are some acquisition opportunities in…