Role-playing game studio Big Huge Games just got a big huge save from the chopping block: it’s getting acquired by 38 Studios, the interactive entertainment firm founded by baseball great Curt Schilling. 38 Studios is buying all of Big Huge’s assets—its signature games, graphics technology, and works-in-progress—from parent company THQ; financial terms were not disclosed. In March, THQ (NSDQ: THQI) said it would have to shut Big Huge down if it couldn’t find a buyer. Schilling founded 38 Studios in 2006 and brought in Midway Games and EA vet Brett Close as president and CEO; Spawn creator Todd McFarlane and comic/fantasy author R. A. Salvatore serve as creative advisors, since the company’s goal is to produce cross-platform (games, TV, books and toys) fantasy-based content. Its first project, a massively multiplayer online (MMO) property dubbed “Copernicus,” is slated for a 2010 release. The company is backed primarily by Schilling, though a spokesperson said it was exploring “strategic” funding options—not just VC.Release.

Role-playing game studio Big Huge Games just got a big huge save from the chopping block: it’s getting acquired by 38 Studios, the interactive entertainment firm founded by baseball great Curt Schilling. 38 Studios is buying all of Big Huge’s assets—its signature games, graphics technology, and works-in-progress—from parent company THQ; financial terms were not disclosed. In March, THQ (NSDQ: THQI) said it would be have to shut Big Huge down if it couldn’t find a buyer. Schilling founded 38 Studios in 2006 and brought in Midway Games and EA vet Brett Close as president and CEO; Spawn Todd McFarlane and comic/fantasy author R. A. Salvatore serve as creative advisors, since the company’s goal is to produce cross-platform (games, TV, books and toys) fantasy-based content. Its first project, a massively multiplayer online (MMO) property dubbed “Copernicus,” is slated for a 2010 release. The company is backed primarily by Schilling, though a spokesperson said it was exploring “strategic” funding options—not just VC.Release.

Role-playing game studio Big Huge Games just got a big huge save from the chopping block: it’s getting acquired by 38 Studios, the interactive entertainment firm founded by baseball great Curt Schilling. 38 Studios is buying all of Big Huge’s assets—its signature games, graphics technology, and works-in-progress—from parent company THQ; financial terms were not disclosed. In March, THQ (NSDQ: THQI) said it would be have to shut Big Huge down if it couldn’t find a buyer. Schilling founded 38 Studios in 2006 and brought in Midway Games and EA vet Brett Close as president and CEO; Spawn Todd McFarlane and comic/fantasy author R. A. Salvatore serve as creative advisors, since the company’s goal is to produce cross-platform (games, TV, books and toys) fantasy-based content. Its first project, a massively multiplayer online (MMO) property dubbed “Copernicus,” is slated for a 2010 release. The company is backed primarily by Schilling, though a spokesperson said it was exploring “strategic” funding options—just not VC.Release.

Despite closing studios and laying off over 600 staff, *THQ* still couldn’t quite dig itself out of the financial hole for Q1 (its fiscal Q408). The game publisher posted a $96.9 million loss—an improvement from the previous quarter, but worse than the $34.5 million loss for the same quarter last year. Game sales were also down: THQ’s revenues came in at $170.3 million, down 9 percent year-over-year. (That didn’t stop rapper 50 Cent from telling MTV he wants to make a sequel to Blood on the Sand, the game he released with *THQ* this year). The good news? Revenues actually beat the Street’s consensus of about $149 million, with Wedbush Morgan analyst Michael Pachter still rating the company’s stock a buy. It’s a vote of confidence for the massive restructuring *THQ* began last year, and the company said it had already reached its $220 million savings goal about a month ago. THQ (NSDQ: THQI) also said it took out a $35 million secured credit facility from Bank of America. New CFO Paul Pucino said the financing would serve as a “prudent backup” to the company’s cash and short-term investment balance. Release | Webcast

Steve Perlman, one of the original developers at Apple (NSDQ: AAPL) and founder of WebTV Networks, which was sold to Microsoft (NSDQ: MSFT) in the 90s, is trying to shake up the video-game business. Perlman’s incubator Rearden LLC has developed technology that enables video game players to play anywhere without a console by accessing games through an internet-connected server, something not currently available to gamers. The technology works a lot like many video-content delivery networks: It compresses then de-compresses large amounts of data quickly, which is necessary to play graphics-rich games that require fast two-way action. This is not Perlman’s first foray into the gaming industry—he founded Catapult Entertainment in the ‘90s, which developed modems for Sega and Nintendo.    The technology had been in development for seven years, according to the Wall Street Journal, and is scheduled to be debuted by a company called OnLive Inc. later this year. OnLive says it will offer new games from Electronic Arts Inc. (NSDQ: ERTS), Take-Two Interactive Software (NSDQ: TTWO) Inc. and THQ Inc.. (NSDQ: THQI) For gamers who want to play games on their TVs while at home, the service has created a chip called the OnLive MicroConsole, which converts the internet feed to playback on a TV. While the technology hasn’t officially been used by any service yet, it potentially has significant implications for pretty much every aspect of the gaming industry. Companies like *Sony* and Microsoft could face a serious challenge to sales of their popular PlayStation and Xbox consoles as they theoretically wouldn’t be necessary anymore. Meanwhile, if the technology delivers on its promise, publishers could cut costs fairly dramatically by not having to package and ship games.

Current UFC Heavyweight Champion Brock Lesnar to Serve as Cover Athlete for Newest Addition to the Promising Ultimate Fighting Championship

Latest Title in

-- Company Bolsters Portfolio with Multi-Year License Agreements with WWE®,

Digital Studios to Extend THQ’s Core Game Brand Experience Online, Launch Digital-Only IPs and Connect Gamers Across THQ’s Core Games Portfolio

Debut Videogame Based on Ultimate Fighting Championship

If you've seen the headlines you know that Electronic Arts (ERTS) is in trouble. So bad in fact that I'm waiting for Bruce Springsteen to sing an acoustic ballad about yesterday's addition to the company's endless stream of guidance disappointments.EA's not alone. THQ (THQI) and Take-Two Interactive (TTWO) are also feeling the effects of a crappy economy a lack of hot trends and far too many gaming platforms. The difference comes in that EA has far more room to fall from here.Company-specific issues have taken their toll. I still can't figure out why the number-one name in sports games ...

The video-game industry has strived the last couple of years to broaden its market, but now publishers are turning back to their most devoted customer base -- core gamers -- to help them out of a rut over the next few months.

Fears about weakening economic conditions in Europe sent the markets into a tailspin with the Dow collapsing 268 points to 10,002. Nasdaq plummeted 65 points to 2125.

THQ (THQI) was upgraded today by analysts at Sterne Agee and the stock is now at $5.45, up $0.35 (6.86%) on volume of 1,750,982 shares traded. The brokerage lifted TH...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)

Visit StreetInsider.com at http://www.streetinsider.com/news.php?st=p&id=5308801 for the full story.

( click to enlarge ) Allied Irish Banks (AIB) looks like it wants to make an upside move. If Tuesday’s move was the start, I want to be buyer once it breaks through resistance highs of $3.37. The stock remains in a downtrend contained with the lower Bollinger Band, but appears to be ...

BloggingStocks: Here are some highlights from this past week's earnings coverage on BloggingStocks: Aol Inc. (AOL) reported a better-than-expected Q4 profit and said its revenue also topped estimates. Burger King Holdings Inc. (BKC) higher Q2 earnings topped ... Read more

BloggingStocks: THQ (THQI), a video game publisher whose colleagues include Activision Blizzard (ATVI) and Electronic Arts (ERTS), reported very good news this week. For the third quarter, non-GAAP income was 35 cents per share. In the comparable frame, a loss of 14 ... Read more

On4 Communications Inc. (OTC:ONCI), MKS Instruments, Inc. (NASDAQ:MKSI), and THQ Inc. (NASDAQ:THQI) are three stocks poised to pop during today’s session. On4 Communications Retires Some Shares On4 Communications Inc. (ONCI, Free Analysis), a globally diversified Located Based Services company, is seeing increased interest ahead of the opening bell after announcing plans to pay off some debt that [...]

Two Veteran Wall Street Analysts discuss: (Vern:) CBY, HLF, THQI; (Val:) FDP, PM, MVSN

This week Mr Gaskins looks at CastlePoint (CPHL) is a Bermuda holding company organized to provide property and casualty insurance and reinsurance business solutions, products and services primarily to small insurance companies and program underwriting agents in the United States. Tower Group Inc. (TWGP) is the sponsor for Castle's IPO

Cheniere Energy Partners (CQP) is a limited partnership formed in November 2006 by Cheniere Energy, Inc (LNG) Cheniere Energy Partners has been authorized to list its common units on the American Stock Exchange under the symbol CQP. The partnership will develop, own and operate the Sabine Pass liquefied natural gas receiving terminal under construction in western Cameron Parish, La. Other energy related IPOs so far this year include Duncan Energy Partner (DEP) Legacy Reserve (LGCY) MV Oil Trust (MVO) Targa Resources (NGLS)

Glu Mobile (GLUU) is a leading global publisher and developer of more than 100 casual and traditional games for the mobile market based on third-party licensed brands. Competitors include Electronic Arts Inc. (ERTS) and THQ Inc. (THQI)

Also hear comments about private equity firm Blackstone's potential IPO.

Data on last weeks IPOs are as follows: FCStone Group (FCSX) +30% BigBand Network (BBND) +28% Tongjitang Chinese Medicines (TCM) -2.5%

Ed Stenson takes a look at market news before the open.

Broadcom Corp, Ford Motor Co, THQ, Inc, Dean Foods, Leap Wireless, Whole Foods Market, Inc, Expressjet Holdings, Inc, SanDisk Corporation

Joseph Hargett takes a look back at the major events that drove the market today.