The rights to Devil's Third have gone back to Tomonobu Itagaki and Valhalla Game Studios, after THQ decided to drop it from its line-up. The game is in its final development stages, but now Valhalla needs to find a new publisher for the game for it to see the light of day.
THQ confirmed the transfer of ownership to Eurogamer after Itagaki told Famitsu that his studio owns the IP. "THQ confirms that the company will not be publishing Devil's Third. All of the game's IP rights have been returned to Itagaki-san and the Valhalla team," the company said in a statement.
THQ has seen a number of drastic changes as of late. Recently, the company hired Naughty Dog co-founder Jason Rubin as its new president.