THQ CEO Brian Farrell spoke with investors during a conference call regarding the company's properties and their futures. One that was discussed was the Red Faction franchise. His words were damning for series fans.
From Farrell during the call as Joystiq has it:
"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…"
Not continuing the franchise in any meaningful way because it's found a niche over the course of the last two iterations means that THQ is ready to move away from a property that simply isn't succeeding as they like. We'll call that a major bummer. While Red Faction: Armageddon felt like a step in the wrong direction, Guerrilla was an absolute blast to play and a great sign of what could become of the franchise.
It would probably be to callused to suggest that this is entirely the vault of THQ as the publisher or Volition as the developer; however, the two counterparts combined to handle both games poorly at separate times. THQ didn't do well to push the glory that was Guerrilla, and Volition, for whatever reason, choose to dismantle the open world success of the first with the sequel in Armageddon. Misgivings for sure.
For fans of the franchise: ouch. What a shame to se a potentially awesome property fade away. Hopefully THQ will put out a solid new IP to make up for Red Faction's absence.