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Game publisher THQ has regained compliance with NASDAQ’s minimum bid price listing requirement. THQ stock has closed at $1.00 per share or greater for the last 10 consecutive business days, preventing NASDAQ from delisting the WWE ’12 and Saints Row: The Third publisher, at least for now.
This is a rare occurrence of good news for THQ after a year filled with reports of layoffs and stock woes.
GamesBeat asked THQ’s chief executive, Brian Farrel, about the company’s recent troubles during June’s Electronic Entertainment Expo:
“It’s been a tough year on a number of levels,” Farrel said. “We’ve had to completely reposition the company. As you know, for a long time, the kids business was part of our bread and butter. We recognized that the kids business was declining. In fairness, we didn’t move quickly enough out of that business, but now we’re out, totally focused on core, and I think you’re seeing the results here.”
Part of that new focus on core included a round of new hires, including former Electronic Arts Canada vice president Ron Moravek as the executive vice president of production, whose main focus will be to oversee the production of triple-A games.
It remains to be seen if this new direction can help the publisher regain its former glory, but avoiding delisting is a good start.