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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.

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498 Comments

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Canteu

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Edited By Canteu

@ZombiePie said:

Sega will be taking control of Company of Heroes developer Relic Entertainment.

I bet top dollar that Relic is going to become a division of The Creative Assembly, which is part of Sega Europe, or there's going to be collaboration between the two seeing how The Creative Assembly is planning on making non 40k Warhammer games.

Otherwise known as Warhammer: Fantasy. That will save you some time in the future.

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iceman228433

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Edited By iceman228433

I really hope Vigil finds a home.

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leejunfan83

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Edited By leejunfan83

Ryan is an asshole for that tweet

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oizon

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Edited By oizon

Creative assembly + Relic Warhammer fantasy grand strategy game, my pantaloons are now soiled

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MikkaQ

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Edited By MikkaQ

Deep Silver? Really? Gross.

Expect a giant dildo to ship with the collector's edition of Saints Row 4.

@Rincewind said:

Sega is going to ruin COH

Because they totally ruined Total War right?

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kesith

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Edited By kesith

Now the WWE games were made by Japanese company Yukes. Is Yukes owned by THQ? Or were they simply subcontracted to make these games?

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iamjohn

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Edited By iamjohn

@flufflogic said:

@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.

What if they made a 40k game where CA handled all the grand strategy, bigger picture elements and Relic did the ground game as an extension of Dawn of War II?

Omg I think I need to go change my pants now.

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EvilNiGHTS

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Edited By EvilNiGHTS

Imagine the tacky pack-ins with a Saint's Row game from Deep Silver...

"Strap it on. No, really."

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UncleDisco

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Edited By UncleDisco

@fargofallout: Anti pc bullshit? I was under the impression that both Far Cry 3 and Assassin's Creed III were great on the PC.

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wsowen02

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Edited By wsowen02

Maybe now Desilets can fix Assassin's Creed

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NipCrip66

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Edited By NipCrip66

Sega move makes sense considering they own Creative Assembly. That is two very solid RTS developers they own now.

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zyn

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Edited By zyn

I hope Koch treats Saints Row well.

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TomA

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Edited By TomA

I can't think of a better publisher to get Relic. SEGA has been doing good with The Creative Assembly, and they seem to have respect for their developers and let them do things themselves. I think this is a good thing for Relic, which is really the only studio here I really care about, besides Volition i guess.

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guyver0

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Edited By guyver0

I just wanna know about a Warhammer 40k Space Marine Sequel!

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ArbitraryWater

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Edited By ArbitraryWater

Well, Relic is at least in good hands. Not sure how I feel about volition, and it's a bummer that vigil hasn't been picked up yet.

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Suits

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Edited By Suits
@Ares42: Also, THQ has already done a ton of marketing for the first Homefront, so that pays for itself.
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abendlaender

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Edited By abendlaender

As I said earlier: Yo Patrice, you just got JeffGreen'd

Too bad for Vigil, that really sucks

Also: Apparently Zenimax bid really high on Relic

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hermes

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Edited By hermes

Wasn't Crytek working on a sequel to Homefront?

That would explain the sale...

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brandino

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Edited By brandino

@400lb_Gorilla said:

Not sure how I feel about Deep Silver getting Saints Row. Also surprised that Sony, Microsoft, or Nintendo didn't make a move considering we are moving back into a part of the console cycle where first party games become much more important.

Nintendo doesn't need to buy any of it, all they have to do is announce a new pokemon, mario, zelda or metroid game and everyone will flock to buy them. Microsoft? I am actually surprised that MS didn't go in for Saints Row or even Metro. Sony? They enough new IPS coming and brought new franchises out this generation that still have a lot of life in those series so doesn't surprise they didn't waste money on anything.

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Tidel

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Edited By Tidel

Poor Vigil. I love Darksiders.

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phrosnite

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Edited By phrosnite

Nobody wants to buy Vigil and/or Darksiders? That's sad.

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TadThuggish

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Edited By TadThuggish

Deep Silver seems like the kind of company to shit-talk gay people on its main Twitter account, then give a non-apology for "not being PC enough." For the legitimately funniest (without being mean-spirited) franchise in gaming, that worries me.

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yami4ct

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Edited By yami4ct

@iceman228433: Sadly, it doesn't look like they'll have the chance. No one bid on them. They're done. The company is officially out of business. Now, not sure about the IP but I imagine the Vigil name and Darksiders license will be split among the creditors. Maybe they'll do something with it, but unlikely. Even if they do, it'll have to be a new dev.

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coilcloudvaper

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Edited By coilcloudvaper

WOMEN TORSO FOR ALL

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Mister_V

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Edited By Mister_V

@hermes said:

Wasn't Crytek working on a sequel to Homefront?

That would explain the sale...

Yeah i guess they bought it so they could finish it in peace. From they price they paid i doubt there where any other bidders.

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RenegadeDoppelganger

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Someone bought the rights to Homefront..WHY?

I feel better about Relic being at SEGA when I look at the Creative Assembly and the Total War series. I don't know how those games do financially speaking but damned if they aren't amongst the best RTS/Strategy games out there.

Looking at Deep Silver's portfolio it seems like they just need a hit. Recent games include such titles as: Nail'd, Catherine, Risen 2: Dark Waters, Sacred 3, and Dead Island. My guess is Dead Island was far and away their biggest game which doesn't say a lot. They also published some of the S.T.A.L.K.E.R. games it looks like? Metro seems like a good fit.

Really shocked that no one picked up the WWE licence. If it doesn't get sold, does it just expire and then another company can negotiate directly with the WWE for those same rights? If so, maybe someone thinks they can get it cheaper.

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OleMarthin

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Edited By OleMarthin

glad ubi ended up with south park, i thing they will do it good.

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Vuud

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Edited By Vuud

Glad Relic has gone to SEGA, they rescued Creative Assembly from the hell that is Activision and it's been good times.

But who exactly owns the rights to make 40k games? I thought it was THQ, or is it Relic?

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iamjohn

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Edited By iamjohn

@RenegadeDoppelganger said:

Someone bought the rights to Homefront..WHY?

To be fair, the people who bought it are making Homefront 2... and probably just bought it to say they could.

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cornbredx

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Edited By cornbredx

Weird. Very very weird. 
This really sucks for Vigil.

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yami4ct

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Edited By yami4ct

@RenegadeDoppelganger: Crytek was already doing Homefront 2 for THQ. Their choices were either kill the project, rename it, or just buy the IP to put it out. Given the IP was so cheap, I imagine they decided it was easier just to grab it so they can finish their project without issue.

As for WWE, I believe it already reverted when they went into Chapter 11. Sounds like EA picked it up.

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stonyman65

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Edited By stonyman65

Is this a good thing? Or a bad thing?

At least the studios get to stay together. So I guess that's good?

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mrpandaman

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Edited By mrpandaman

@Vuud said:

Glad Relic has gone to SEGA, they rescued Creative Assembly from the hell that is Activision and it's been good times.

But who exactly owns the rights to make 40k games? I thought it was THQ, or is it Relic?

I believe Games Workshop (and likes to) works directly with Relic, so I think the 40k license would with Relic, even if THQ did have the license.

Doesn't Sega own the Warhammer fantasy also? I know EA only has the MMO license for WH fantasy, but think of CA and Relic working to create a WH fantasy RTS.

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colourful_hippie

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Edited By colourful_hippie

Sweet glad EA or Activision didn't grab anything that I like. I hope Vigil makes it out OK, they are solid devs.

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Jazz_Lafayette

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Edited By Jazz_Lafayette
@wumbo3000 said:

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

I believe it's pronounced "coke." Which, depending on how hardcore you want Saints Row 4 to be...
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Badfinger

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Edited By Badfinger

@Rincewind: They've mostly left Creative Assembly to their own devices. There have been slip ups, but overall they've been an excellent developer. It gives me a little hope that they'd treat Relic the same way.

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mellotronrules

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Edited By mellotronrules

@TomA said:

I can't think of a better publisher to get Relic. SEGA has been doing good with The Creative Assembly, and they seem to have respect for their developers and let them do things themselves. I think this is a good thing for Relic, which is really the only studio here I really care about, besides Volition i guess.

pretty much took the words out of my mouth. it'll be interesting to see how much rope volition gets from its parent company now- i don't have anything to go on other than dead island...and while that game was something of a diamond in the very rough, it says nothing of their management.

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darkest4

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Edited By darkest4

God damnit I wanted to play as the other 2 Horsemen. Starting to look like Darksiders 3 will never happen :( Sad day. Hope the new owners Koch/Deep Silver can do Saints Row right.

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damswedon

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Edited By damswedon

@wumbo3000 said:

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

If it is like Robert Koch it is just cock, they sound like they would be German.

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jayjonesjunior

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Edited By jayjonesjunior

@Rincewind said:

Sega is going to ruin COH

Sega has Total War and it is great.

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Slaker117

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Edited By Slaker117

What is Evolve, and why is it worth so much?

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WiFiPirate

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Edited By WiFiPirate

Well, at least those Steam Publisher packs will have "new" games in them next time around.

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Mister_V

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Edited By Mister_V

@Rincewind: How exactly?

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DisposableUser

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Edited By DisposableUser

@Rays_Gaming_Rants said:

Now the WWE games were made by Japanese company Yukes. Is Yukes owned by THQ? Or were they simply subcontracted to make these games?

Yuke's was contracted to make the WWE games by THQ, so they'll probably return to making Japan only DS games or, if let's say Koch buy the WWE rights, they could continue to make them.

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DrDarkStryfe

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Edited By DrDarkStryfe

Now that the dust has settled, man, one of the big third party publishers is dead. This is much larger than what happened with 38 Studios, and there are a lot of people that are losing their job today because of a leadership group that did a terrible job forecasting what to sell in this industry. None of this is on Rubin, he jumped on the sinking ship well after it was too late.

This industry needs a massive amount of transparency to survive.

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gogosox82

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Edited By gogosox82

So no one put a bid on Vigil and the darksiders ip? Man, that is seriously depressing. I love those games.

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alternate

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Edited By alternate

WWE wasn't on sale Alex. Rights reverted to the wrestling company and rumour is they have already done a deal with EA.

Also, are you sure about metro - I think publishing rights were available but THQ didn't own the IP.

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nights

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Edited By nights

SEGA picked up Relic? Not bad, not bad at all.

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FrankCanada97

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Edited By FrankCanada97

@alternate said:

WWE wasn't on sale Alex. Rights reverted to the wrestling company and rumour is they have already done a deal with EA.

Also, are you sure about metro - I think publishing rights were available but THQ didn't own the IP.

Page five of the pdf.

http://www.thesangreal.net/gafpics/results.pdf

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alibson

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Edited By alibson

People flipping out about Deep Silver publishing a game where you smack people on the head with a giant pink dildo.

The hypocrisy is strong with these ones.