THQ explores 'strategic alternatives' with private equity broker

THQ's second quarter earnings conference call today totaled 12 minutes. Executives rattled through the financial quarter, noted game delays and CEO Brian Farrell concluded that the company had been "advised not to conduct a [question and answer] session" following prepared remarks. Since these calls usually last about an hour, this was unusual.

THQ's sudden case of tongue-biting has to do with it "exploring strategic alternatives" with a company called Centerview Partners LLC. This company's job is to evaluate financing alternatives to improve THQ's overall cash. The company notes that it does not plan to disclose developments or progress until the board deems it appropriate.

We spoke to sources with knowledge of companies like Centerview Partners and their take is THQ is attempting to go private. Centerview Partners is a broker for private equity deals, which means THQ's shareholders would preferably be out of the picture. THQ's stock is currently trading at $3.02, following drastic measures to retain its listing; it should also be noted after hours trading has been suspended.