It seems that right now is not a good time to be in the entertainment software business, as it seems that the closings and cuts just seem to continue. The latest news that we are getting is that THQ is making massive cuts, as well as closing several studios completely.

Here is what our sources are giving us right now that we are able to confirm. Dallas Paradigm Entertainment is being closed. Juice Games will be seeing a staff reduction by about one-third. Mass Media, which is based in L.A., is being completely closed. Helixe in Burlington, Massachusetts, is also being kicked to the curb. Santa Clara-based Locomotive Games has been closed. Sandblast Games from Seattle has also been closed.

Rainbow Studios will join Juice Games with a staff reduction, but the current number of employees to be ditched has yet to be determined. For the moment THQ is not commenting on what is going on, but our sources are telling us that they are saving the announcement for when they release their quarterly financial report this coming Wednesday.

The move does not really come as that big of a surprise, as many publishers continue to struggle in this uncertain economy which has forced publishers to cut to the bone just to survive. With the way things seem to be going at the moment, we don’t expect THQ to be the last publisher making cuts before the end of the year.