Itagaki's 'Devil's Third' being sold by THQ

THQ has announced it is in the process of finding a buyer for Devil's Third, the first project from former Team Ninja head Tomonobu Itagaki since his contentious departure from Namco.

THQ has announced it is in the process of finding a buyer for Devil's Third, the first project from former Team Ninja head Tomonobu Itagaki since his contentious departure from Tecmo.

The publisher, which suffered a staggering $239.9 million net loss during its 2012 fiscal year, has changed its priorities in recent months. According to THQ president Brian Farrell, Devil's Third — the debut outing from Itagaki's new studio Valhalla Games — no longer fits into the picture.

"The profitability profile for Devil's Third no longer met our internal threshold and we are currently in discussions with third parties regarding the future of this title," Farrell said in an investor's call, as transcribed by Joystiq.

We've reached out to THQ for a comment on why Devil's Third didn't meet the publisher's needs. We know it wasn't due to a lack of horrific violence, because, boy, it most certainly does have that.

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