Earlier today, a source close to THQ confirmed to N-Europe that the game studio is actually shutting down. Apparently, the staff has already been informed just today of THQ's "imminent closure."

*Update* THQ says the cake is a lie and they're still alive.

RAWR. The analysts in Cowen and Company are projecting that THQ may have a hard time breaking even this year. And why is that? It looks like some of THQ's franchises, namely WWE, Saints Row, and even Spongebob are heading down for Bikini Bottom. That's quite a blow, considering that their franchises have been released across the current gen platforms and handhelds!