THQ Inc. has lost its faith in licensing kid-friendly properties. The game company announced that it is leaving childish things behind in order to concentrate its resources on key franchises like Company of Heroes, Saints Row and the upcoming UFC Undisputed 3.

The company intends to address concerns about its financial health by accelerating digital revenues, extending and supporting key console launches, and by creating dedicated digital properties for emerging platforms.

THQ will continue to sell some of its previously released titles. It didn’t say which, but its catalog includes games based on Spongebob Squarepants, Disney Princesses, Barbie, and Dreamworks Animation properties including Puss In Boots, The Penguins of Madagascar and Rio.

“THQ will be a more streamlined organization focused only on our strongest franchises,” said Brian Farrell, THQ president and CEO. He gave Saints Row: The Third as an example of the company’s future direction, adding that the game has shipped more than 3.8 million units globally with digital content offerings that have resulted in the highest digital revenue of any console title in the company’s history.

Farrell said that THQ will continue to work with external development talent on existing and new franchises, and will redouble its efforts to have games on all platforms.

Related links:

GamesIndustry.Biz – THQ focuses on core as pressure mounts on board

Gamasutra – THQ exits kids’ licensed game business

Joystiq – THQ moving away from ‘kids licensed entertainment’

Photo by Flickr user sindy, used under Creative Commons license