Tomonobu Itagaki, creator of Ninja Gaiden and Dead or Alive, is working on his next game called Devil's Third
with his new team, Valhalla. After years with Tecmo, he left Team Ninja, started his own team, and partnered with another studio.Times have been tough for THQ and they thought they wouldn't make enough money with Itagaki's next game. So, the rights for Devil's Third has gone back to Itagaki
as he and his team continue work on the game.
The game's been in development since 2009 and a while ago, the team working on the engine went out of business so they had to pull a Duke Nukem Forever and switch engines. Well, switching engines also brings forth a lot more work and thus far, we haven't seen much of the game.
Now that the rights have gone back to Itagaki, the future of Devil's Third is up in the air. The thoughts of who will now publish the game and how the game's progressing are popping up in people's heads. From the sounds of it though, the split was pretty amicable as Itagaki still had nice things to say about THQ.