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THQ Officially Dissolving as Bankruptcy Auction Yields Multiple Buyers [UPDATEDx2]

Several major properties are scooped up by other publishers, though a few are left holding the bag.

Goodnight, sweet publisher.
Goodnight, sweet publisher.

THQ is no more.

The publisher, which found itself on the wrong end of a bankruptcy-induced auction yesterday, will dissolve as soon as its bankruptcy hearing and subsequent sales transitions are completed. Confirmation of this news comes in the form of a letter sent to THQ employees today, which was obtained by Kotaku. According to the letter:

That leaves a few properties and studios unaccounted for, most notably Darksiders developers Vigil Games, as well as the company's long-held WWE license. The letter outlines that THQ will be making every effort to find buyers for the remaining properties. However, outside of a skeleton crew remaining to help with the transition, THQ's primary staff is apparently being laid off.

We'll update this story as more information becomes available.

Update: DDInvesting, who has been covering the THQ hearings with great regularity, has posted the prices apparently paid for the individual properties. They are as follows:

  • $500k Homefront (Crytek)
  • $26M for Relic (Sega)
  • $2.5M for THQ Montreal (Ubisoft)
  • $3.2M for South Park (Ubisoft)
  • $11M for Evolve (Take-Two)
  • $22.3M for Volition (Koch Media)
  • $5.8M for Metro (Koch Media)

Update 2: Both Ubisoft and Koch Media have sent out press releases confirming the purchases. Koch provided few concrete details, except to say that its publishing arm Deep Silver would be at the head for continued development in the Metro and Saints Row franchises, and that more details on each franchise would be coming in the next few months. As for Ubisoft, its press release simply confirms the aforementioned purchases, but does at least note that South Park: The Stick of Truth is still scheduled for release this year.

Elsewhere, IGN is reporting that Take-Two Interactive has stepped up to take control of the WWE game license. We've sent a confirmation request to Take-Two's representatives and will update with a response if we receive one.

Alex Navarro on Google+

498 Comments

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tourgen

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Edited By tourgen

Well at least deep silver takes some chances. The news could have been much worse. Actually this could turn out kind of cool for everyone.

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MetalGearSunny

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Edited By MetalGearSunny

@a5ehren said:

@400lb_Gorilla said:

Not sure how I feel about Deep Silver getting Saints Row.

Even beyond the recent controversy, they have a pretty bad history of publishing bad games. I can't imagine Volition will get a bigger budget or anything.

Koch Media bought them, the parent company. Deep Silver doesn't have Saints Row, unless Koch Media is all "Here, Deep Silver people, make Saints Row," I don't believe that's the case. I could be wrong, but reading it makes it seem like they're gonna let Volition operate on their own.

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abdo

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Edited By abdo

I should've known Sega's situation wasn't as bad as it seemed to be, since they have enough money to acquire Relic. I guess there's still hope for Yakuza 5 to reach these shores.

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wumbo3000

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Edited By wumbo3000

How do you pronounce KOCH? Because if you pronounce it "cock," then I'm glad they bought Volition.

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a5ehren

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Edited By a5ehren

@tourgen said:

Well at least deep silver takes some chances. The news could have been much worse. Actually this could turn out kind of cool for everyone.

Only if Deep Silver commits to making Volition their flagship developer (and funds them accordingly) and keeps them intact. Most of their history is making cheap shovelware from European dev houses.

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LarcenousLaugh

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Edited By LarcenousLaugh

Wonder how many lay offs? Hopefully those folks will get picked up quick.

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UltimAXE

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Edited By UltimAXE

Kind of shocked that Vigil hasn't been picked up yet. They're a talented team.

As for Saints Row, well, I hope that it works out okay. A no-name publisher buying a fairly recognizable franchise like that has me worried that the next entry won't get the backing that it needs/deserves.

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isomeri

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Edited By isomeri

I hope that Vigil will stay alive in some form.

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Atary77

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Edited By Atary77

Part of me just can't help but feel sad that THQ is really gone. Goodbye old friend.

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Zippedbinders

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Edited By Zippedbinders

At least Koch/Deep Silver aren't Ubisoft, EA, or Activision. There's a lot less to worry about then. Sega getting Relic makes sense, they already have Creative Assembly.

I'm really worried about Vigil though, I hope those guys are fine.

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Barrock

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Edited By Barrock

@WinterSnowblind said:

@Seedofpower said:

Thank god. No EA, I was getting worried.

Apparently EA got the WWE licence.

I read the opposite.

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Mister_V

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Edited By Mister_V

@wumbo3000: Like the Drink.

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Lukeweizer

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Edited By Lukeweizer

No word on Double Fine getting Costume Quest and Stacking?

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Milkman

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SuperSmashSnake

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Edited By SuperSmashSnake

I really hope they take good care of Saints Row.

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Vinny_Says

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Edited By Vinny_Says

Isn't it Crytek's thing to put the word "cry" in their games (far cry, crysis) what the hell are they going to do with homefront?

Also come on somebody buy Vigil pleaase

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Stimpack

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Edited By Stimpack

Also it's fucking hilarious that Koch Media, the guys that everyone is always absolutely disgusted with is picking up Saints Row, the most disgusting game that everyone loves to death. Including myself.

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abdo

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Edited By abdo

@wumbo3000: hate to disappoint you, but it's "coke"

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TepidShark

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Edited By TepidShark

@wumbo3000 said:

How do you pronounce KOCH? Because if you pronounce it "cock," then I'm glad they bought Volition.

I believe it is "Coke." If Koch means the Koch Brothers then it is definitely pronounced "Coke."

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Shortbreadtom

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Edited By Shortbreadtom

22.3 MILLION IS NOT ENOUGH FOR SAINTS ROW.

NOTHING IS GOOD ENOUGH FOR SAINTS ROW.

I don't know how I feel about Koch buying Volition. They certainly haven't been making a good name of themselves in the press lately... if they're smart they'll leave Volition to go bat-shit crazy on the Next Great Sequel in the Saints Row Franchise, and won't interfere with... dismembered, bikini clad... dildos?

Also, so long THQ. You published some great games, but what were you thinking with U-Dra... you know what I won't rub it in. Goodnight sweet prince.

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a5ehren

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Edited By a5ehren

@MetalGearSunny said:

@a5ehren said:

@400lb_Gorilla said:

Not sure how I feel about Deep Silver getting Saints Row.

Even beyond the recent controversy, they have a pretty bad history of publishing bad games. I can't imagine Volition will get a bigger budget or anything.

Koch Media bought them, the parent company. Deep Silver doesn't have Saints Row, unless Koch Media is all "Here, Deep Silver people, make Saints Row," I don't believe that's the case. I could be wrong, but reading it makes it seem like they're gonna let Volition operate on their own.

Deep Silver is Koch Media's video game publishing arm. There's nowhere else to put them under - Volition will be a dev house like Techland is for Dead Island.

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kerse

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Edited By kerse

Koch Media huh, didn't expect that.

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jimmyfenix

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Edited By jimmyfenix

end of an era

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TadThuggish

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Edited By TadThuggish

Reminder: Deep Silver published Singles: Flirt Up Your Life.

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a5ehren

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Edited By a5ehren

@MattGrant said:

For those concerned with Volition's fate I think it should be noted that Deep Silver did not acquire Volition, its parent company did. A minor distinction some might say, but were Zenimax to have bought Volition it would not mean Arkane would have any interaction with the Saints Row IP. Which is to say that this doesn't mean Deep Silver specifically has acquired Volition. At least that is my understanding, I might have it wrong. Feel free to correct/berate me.

It means that Deep Silver will be publishing all of Volition's games, and therefore controlling the budget. Deep Silver is just a publisher, they just happen to only be one wing of a larger company.

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rjaylee

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Edited By rjaylee

How the hell has nobody put a bid on Vigil Games at all? Are investors actually THAT scared of championing the Darksiders franchise?

Darksiders 1 was a pretty good home-run hit, and while Darksiders 2 didn't garner the same kind of acclaim, what is it about Vigil Games that is essentially turning it into kryptonite?

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MeatSim

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Edited By MeatSim

Besides Ubisoft getting THQ Montreal, I don't think anyone could have predicted these other buyers.

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isomeri

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Edited By isomeri

@TepidShark said:

@wumbo3000 said:

How do you pronounce KOCH? Because if you pronounce it "cock," then I'm glad they bought Volition.

I believe it is "Coke." If Koch means the Koch Brothers then it is definitely pronounced "Coke."

I do believe that this Koch Media has nothing to do with the Koch brothers. Luckily.

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iamjohn

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Edited By iamjohn

@a5ehren said:

@400lb_Gorilla said:

Not sure how I feel about Deep Silver getting Saints Row.

Even beyond the recent controversy, they have a pretty bad history of publishing bad games. I can't imagine Volition will get a bigger budget or anything.

Honestly, I think Deep Silver is probably the perfect fit for Saints Row and Volition all things considered. They're a publisher who's shown with Dead Island that they know how to handle a B-tier game with A-tier aspirations. That's pretty much exactly how I see Saints Row - it's cheaper to make because Volition's in the middle of nowhere but built on good technology because they're talented and can get more out of spending a little, and Deep Silver can focus on spending more money on selling the game and the weird periphery licensing things like The Third's stuff with Adult Swim. A bigger publisher wouldn't know what to do with Saints Row; it's big enough to be successful and a name people know and like, but niche enough that fucking with the formula too much to try and mainstream it some is liable to ruin everything people liked about SR2 and SRTT.

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RandomInternetUser

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Vigil seemed like a great studio; I hope everything turns out alright for them.

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fargofallout

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Edited By fargofallout

I guess I don't know enough about these companies to say how I feel about any of this. I hope Saints Row 4 will still exist and is still awesome. I also hope Ubisoft can't fuck up South Park with their anti-PC bullshit. Other than that...meh. Too bad about Vigil.

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jacdg

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Edited By jacdg

@Vinny_Says said:

Isn't it Crytek's thing to put the word "cry" in their games (far cry, crysis) what the hell are they going to do with homefront?

Also come on somebody buy Vigil pleaase

rename it: Cryfront, Homecry, A Cry from the Homefront, Cry Home, Frontcry. Homefront 2: More Crying.

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avantegardener

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Edited By avantegardener

Toodle pips Toy Head Quarters, maybe next time don't pour all you money into digital etch-a-sketch.

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hermes

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Edited By hermes

@wumbo3000 said:

How do you pronounce KOCH? Because if you pronounce it "cock," then I'm glad they bought Volition.

I pronounce it Kosh, which makes me think of

No Caption Provided

But I could be wrong...

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Seedofpower

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Edited By Seedofpower

@a5ehren said:

@Seedofpower said:

Thank god. No EA, I was getting worried.

You should check out Deep Silver's publishing history before you say that.

That was a reference to the franchise I care about.

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TheGorilla

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Edited By TheGorilla

I hope Volition is supported and that Vigil is able to find a home before there is nothing left of that company. I was kind of hoping EA might pick something up from this but that's just because I think EA has a terrible game lineup right now and I wanted some developer to step in and teach them how to make interesting games again.

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MetalGearSunny

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Edited By MetalGearSunny

@a5ehren said:

@MetalGearSunny said:

@a5ehren said:

@400lb_Gorilla said:

Not sure how I feel about Deep Silver getting Saints Row.

Even beyond the recent controversy, they have a pretty bad history of publishing bad games. I can't imagine Volition will get a bigger budget or anything.

Koch Media bought them, the parent company. Deep Silver doesn't have Saints Row, unless Koch Media is all "Here, Deep Silver people, make Saints Row," I don't believe that's the case. I could be wrong, but reading it makes it seem like they're gonna let Volition operate on their own.

Deep Silver is Koch Media's video game publishing arm. There's nowhere else to put them under - Volition will be a dev house like Techland is for Dead Island.

Oh, okay. Still though - I think they might be okay with them. But we'll see.

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wh1terav3n

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Edited By wh1terav3n
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Shortbreadtom

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@wumbo3000: Strap it on.

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JMitch

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Edited By JMitch

I only hope this leads to saints branded tit statues....fingers crossed

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FierceDeity

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Edited By FierceDeity

@TepidShark said:

@wumbo3000 said:

How do you pronounce KOCH? Because if you pronounce it "cock," then I'm glad they bought Volition.

I believe it is "Coke." If Koch means the Koch Brothers then it is definitely pronounced "Coke."

Just to clarify (during the Bombcast they also had this misunderstanding) Koch Media has nothing to do with the Koch brothers.

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Chicken008

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Edited By Chicken008

That's a lot of dollars.

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sofakingcool

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Edited By sofakingcool

my favorite part of this story is "Crytek has purchased the rights to the Homefront franchise for some reason." laughed my ass off!

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PimblyCharles

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Edited By PimblyCharles

Thanks for the update Alex! This is pretty sad, as THQ was one of the few publishers I didn't hate with passion. We all knew it was coming though,

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flufflogic

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Edited By flufflogic

@MeatSim: @MeatSim said:

Besides Ubisoft getting THQ Montreal, I don't think anyone could have predicated these other buyers.

Sega were PERFECT for Relic. Now they have Creative Assembly, Relic and Sports Interactive, pretty much owning PC strategy.

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Ares42

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Edited By Ares42

Although I hate to say it, I can't imagine anyone has much interest in Vigil and Darksiders. At least Homefront has modern military shooter going for it, which will sell even if it's garbage.

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deactivated-5ba968afc02e5

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Deep Silver is Koch Media's video game label.

As long as they give Volition a nice budget to work with and leave them to their own devices, along with a steady marketing campaign, Saints Row 4 should be fine. Here's hoping.

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a5ehren

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Edited By a5ehren

@heatDrive88 said:

How the hell has nobody put a bid on Vigil Games at all? Are investors actually THAT scared of championing the Darksiders franchise?

Darksiders 1 was a pretty good home-run hit, and while Darksiders 2 didn't garner the same kind of acclaim, what is it about Vigil Games that is essentially turning it into kryptonite?

Neither of those games sold nearly well enough for a publisher looking to make money to greenlight the 3rd one.

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Suits

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Edited By Suits
@Rincewind: I wouldn't call the Total War franchise, published by SEGA, ruined either.