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.

Syfy recently held a presser to promote its upcoming Red Faction:Origins TV movie, slated for a June 4, 2011, premiere. It’s meant to bridge the story gaps in between Red Faction: Guerilla and Red Faction: Armageddon. As Joystiq reports, it seems that director Michael Nankin can’t be bothered to play any of the video games that are his, you know, source material for the movie.

Unlike previous Red Faction games that dealt with shooting things on foot, Battlegrounds is a vehicular combat game. However much like Red Faction: Guerrilla, everything in Battlegrounds is destructible. THQ is focusing on the multiplayer aspect of Battlegrounds, but there will be single-player challenges included. You and your friends (or enemies) can choose from different vehicle types such as mechs, tanks and combat walkers.

THQ shared the financial results for the first quarter of the companies fiscal 2011 year. THQ reported $149.4 million in sales, down from $243.5 million in the previous year. The majority of THQ’s sales this quarter came from UFC: Undisputed 2010. However this title didn’t sell as well as its predecessor. These lackluster sales in addition to no title to fill the gap left behind by Red Faction Guerrilla caused THQ to lose $30.1 million this quarter.

Video game-based TV shows don’t have a track record any better than game movies. Anyone remember the Mortal Kombat TV show? Oh, the horror. That hasn’t stopped publisher THQ from teaming up with SyFy on a TV movie: Red Faction Origins. The game will be set 25 years after Red Faction Guerilla and leads into upcoming game Red Faction Armageddon...

THQ and SyFy are pretty good buddies. In February, 2010, the two companies arranged a mutually beneficial partnership that would help promote SyFy shows and THQ games. The first project the two companies decided to work together to on is a de Blob TV series for kids that can be shown on the SyFy channel and website. Now, they’re working some magic on Red Faction and Ghost Hunters Academy.

THQ’s Red Faction games, which have appeared on the GameCube, PS2, PS3, Xbox and Xbox 360 and both Mac and Windows PC, will be moving to the small screen. A two hour Red Faction movie is going to appear on SyFy, and it may even end up leading to a Red Faction TV series. SyFy will also help THQ produce the next entry in the Red Faction series.

Conversely, SyFy’s TV series Ghost Hunters Academy will be heading to the small screen…

Instead of roaming around the surface of a planet, the next Red Faction will mostly take place underground. It will borrow atmospheres from the first couple Red Faction games as well as Red Faction Guerrilla. It will still have destructible environments, but this time destroying things will have a greater effect when done in crowded spaces.