I’ve been saying it for years since the first Red Faction game hit my radar: The struggles of the people needs to be a co-op struggle. Finally someone from THQ has thought “hey, this would be fun with friends!” Thus bringing us the top-down shooter titled Red Faction Battlegrounds.
This is just an unveiled game, so information is really slim for now. Even the subtitle "Battlegrounds" may be temporary. What we have heard is that Red Faction Battlegrounds will be a PSN/XBLA release featuring 4 player co-op. Battlegrounds will also unlock elements for the next full-game sequel to the Red Faction series: Red Faction Armageddon, which also features co-op.
As far as release date goes, Armageddon is tentatively listed for 2011, and Battlegrounds should be released approximately 3-4 months beforehand. We’re thinking end of 2010, but will let you know when we get more solid information.
Update: We just got official word from a THQ rep that there's actually no co-op in this game. Gameplay is similar to Twisted Metal and is multiplayer versus focused.
Source: Eurogamer.net