THQ executives let go

The writing has long been on the wall, but now it is official. THQ today informed the Securities and Exchange Commission that it had terminated the employment of three top executives.

CEO Brian Farrell, president Jason Rubin, and chief strategy officer Jason Kay have each been terminated without cause, according to the government document.

THQ had hoped to remain intact, with Rubin saying in December that if all went to plan, Clearlake Capital Group would purchase the company for $60 million. Creditors took issue with the quick sale and the terms and convinced a bankruptcy judge to allow for THQ to be broken apart and sold on a piecemeal basis.

The THQ auction took place last month, with Sega, Take-Two, Ubisoft, Koch Media, and Crytek all snapping up franchises and studios. Check out GameSpot's previous coverage for a full breakdown of the event.