Role-playing game studio Big Huge Games just got a big huge save from the chopping block: it’s getting acquired by 38 Studios, the interactive entertainment firm founded by baseball great Curt Schilling. 38 Studios is buying all of Big Huge’s assets—its signature games, graphics technology, and works-in-progress—from parent company THQ; financial terms were not disclosed. In March, THQ (NSDQ: THQI) said it would have to shut Big Huge down if it couldn’t find a buyer.

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Schilling founded 38 Studios in 2006 and brought in Midway Games and EA vet Brett Close as president and CEO; Spawn creator Todd McFarlane and comic/fantasy author R. A. Salvatore serve as creative advisors, since the company’s goal is to produce cross-platform (games, TV, books and toys) fantasy-based content.

Its first project, a massively multiplayer online (MMO) property dubbed “Copernicus,” is slated for a 2010 release. The company is backed primarily by Schilling, though a spokesperson said it was exploring “strategic” funding options—not just VC.Release.