Saints Row publisher THQ has shelved all projects scheduled for release in 2014 and has cancelled Vigil-developed MMO Warhammer 40,000: Dark Millennium Online.
That's according to games exec Kevin Dent, who suggests that the publisher is ultimately looking for a sale to save the troubled business.
Sources speaking to GamesIndustry.biz have suggested Dark Millennium Online, which was first announced in 2007, is currently being offered for sale to other companies.
At least one THQ project based on a Disney licence to be released in 2014 has been given back to the media firm even though the publisher has paid an advance on the IP, according to Dent.
Industry chatter suggests THQ is looking for a sale. The company has a market cap of just over $45 million - trading in the company was at a new low on Friday of $0.65. CVs for established talent at the company are said to be increasing in the recruitment market.
The company has a recent history of closing studios and shelving franchises, and has moved major development to Montreal to take advantage of generous government incentives. Last year it cancelled Company of Heroes Online and WWE Online at a cost of $9.9 million.
THQ and its internal studios are currently working on a number of projects including Metro: Last Light, Darksiders 2 and Guillermo Del Toro's Insane. Assassin's Creed director Patrice Desilet's joined THQ's Montreal super-studio last year to work on a new project.
Update: THQ has denied the latest rumours and stated that there has been no decision made on the future of Dark Millennium Online.
In a statement given to press today, the company said: "THQ has not cancelled its 2014 line-up, and has not made any decisions regarding the planned MMO."
"As part of the ongoing review of our business, we have made decisions to ensure that the company is strategically addressing the most attractive markets. As we have previously announced, we have dramatically reduced our commitment to the kids' boxed games sector which leads to a significantly more focused release schedule moving forward.
"Our slate for calendar 2012 and beyond is focused on high-quality core games and continues to build our digital platform and business. We are excited for our pipeline of original and high-quality content along with our relationships with some of the best talent in the industry."