Financially troubled publisher, THQ, has announced its plans to either sell off or close veteran PC game developer, Big Huge Games (Rise of Nations series), as well as spin two of their internal studios, Heavy Iron and Incinerator, into independent development houses. THQ sent out the following statement:

“As part of THQ’s previously announced business realignment and related headcount reduction plans that targeted cost reductions of $220 million, including a reduction in workforce of 600 people worldwide, THQ today notified the staff at two of its development studios that they will be spun out as independent companies: Heavy Iron in Los Angeles, CA, and Incinerator in Carlsbad, CA.

”In addition, THQ informed the staff at its Big Huge Games studio in Timonium, MD, that it plans to close the studio if a sale is not completed in the near future. These actions were unfortunate but were necessitated by the difficult economic environment.”

Big Huge Games was founded in 2000 by veteran developers Tim Train, David Inscore, Jason Coleman and Brian Reynolds and worked on a variety of entries to their Rise of Nations series, as well as working on an Age of Empires III expansion pack, The Asian Dynasties, and the Xbox LIVE Arcade conversion of Catan.

The company was then acquired by THQ in early 2008, ostensibly to provide financial stability for the developer. Let’s hope they don’t go the way of the other great RTS developer, Ensemble Studios.