After announcing their intention to drop Devil’s Third back in May, THQ confirmed to Eurogamer that they have returned the rights to the game to creator Tomonobu Itagaki and his Valhalla Game Studios. Apparently, the troubled publisher didn’t see as much financial potential in the title as some of their other existing IPs.
“THQ confirms that the company will not be publishing Devil’s Third,” stated the publisher. “All of the game’s IP rights have been returned to Itagaki-san and the Valhalla team.”
Devil’s Third is Itagaki’s first project since parting ways with Tecmo and Team Ninja, the development team he led. He is as notorious for his sunglasses and leather jackets as he is for his work on the Dead or Alive and Ninja Gaiden series. THQ’s confirmation comes after Itagaki told the latest issue of Famitsu Xbox 360 magazine that Valhalla owns the rights to Devil’s Third and that they are free to seek out another publisher.
“Most important thing is gamers’ happiness. And people in business side like distributors and presses. And developers. It’s a Happy Three. So we can’t thank THQ enough. Anyway, we now own the Devil’s Third IP.
“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. But it wasn’t fit for [THQ’s] mid-term plan.
“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.”
Devil’s Third has been in development since 2009 and was officially announced in 2010. A costly switch in gaming engines after the original’s supplier went out of business has been the most notable of several development issues. As a result, very little is known about the game. Check out the E3 2010 trailer below and let us know if you’re still excited about this title.