THQ Has Officially Given Devils Third Rights to Valhalla Studios

Devil’s Third, the upcoming action game from Valhalla Game Studios masterminded by designer Tomonobu Itagaki, is now completely owned by the Japanese studio, after THQ has given up on the publishing rights for the new title.

THQ signed a partnership with Valhalla Game Studios back in June of 2010 and confirmed that they were working on a new action game, called Devil’s Third, last year.

Since then, THQ has encountered quite a lot of financial problems and was forced to lay off a considerable amount of employees just to keep its current projects afloat.

Sadly, due to the publisher’s tighter budget, the studio announced that it was looking to sell the publishing rights for Devil’s Third.

Now, THQ has revealed that the rights have officially been given to Valhalla.

"THQ confirms that the company will not be publishing Devil's Third," the publisher told Eurogamer. "All of the game's IP rights have been returned to Itagaki-san and the Valhalla team."

"We can't thank THQ enough," Valhalla boss Tomonobu Itagaki revealed.

"They didn't want to part with this IP, but we all have to see into the future and at last they did, for us. We were anguished and they were really kind to us. Mr. Danny Bilson was searching for a way to work together until the very end. I do appreciate him and THQ managers that signed the transfer contract."

According to Itagaki, work on Devil’s Third has entered the final segment, so it’s crucial to get a new publisher in order to ensure adequate amounts of marketing for the action game.

"Devil's Third development is in its final stage now, and is most expensive in this term. In the West, we need to spend a great deal for advertisements - as much as development cost - to sell a lot."

As of yet, no company has publicly expressed interest in Devil’s Third.

Via: THQ Has Officially Given Devils Third Rights to Valhalla Studios