I just heard this in THQ's conference call, and Neuromancer found an article on Joystiq confirming it.
The Red Faction series is dead, and THQ is moving the team to inSANE.
Update:
The Red Faction series is dead, and THQ is moving the team to inSANE.
Source: http://www.joystiq.com/2011/07/27/red-faction-franchise-wont-continue-in-any-meaningful-way/Joystiq said:Red Faction: Armageddon has signaled the end of not just a planet, but an entire, transmedia universe. Speaking during an investor call this evening, THQ CEO Brian Farrell described the franchise's reach as "niche," and consequently no longer worth pursuing.
"Given that that title, now in two successive versions, has just found a niche, we do not intend to carry forward with that franchise in any meaningful way," Farrell said. He described the development team at Volition as "talented," and noted that they would be moving on to the company's Guillermo del Toro project, Insane.
Update:
So it seems it's only dead unless inSANE bombs or THQ suddenly finds themselves with lots of money.Reilly said:Not being killed off...yet. More like put on hold indefinitely. It can always be revisited.
http://xbox360.ign.com/articles/118/1184555p1.html