THQ says in talks with financial sponsor

SAN FRANCISCO Tue Nov 20, 2012 5:45pm EST

SAN FRANCISCO Nov 20 (Reuters) - Video game publisher THQ Inc announced on Tuesday that it has entered into exclusive negotiations with a financial sponsor for potential financing alternatives.

The company, which has trimmed staff and shut non-core businesses in an effort to revive its business, did not provide further details while negotiations are underway.

The agreement "may result in, among other things, significant and material dilution to shareholders," it said.

Paul Pucino, Executive Vice President and Chief Financial Officer, has resigned, the company said. ((Malathi.Nayak@thomsonreuters.com)(415-677-2538)(@MalathiNayak )

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