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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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FiestaUnicorn

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Edited By FiestaUnicorn

I don't know much about the cost of IP's, but 500k for the Homefront name that will be turned into a franchise is probably chump change.

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smiddy

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Edited By smiddy

I just hope Sega let Relic do their own thing.

Throughout all of this Relic has been my only concern. Sure, there are other developers/games here that I care about, but not in the same way as Relic. As far as I'm concerned everything they touch is gold.

HOMEWORLD 3!

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JamesM

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Edited By JamesM

@Heath said:

Not to put socks in any of you company of heros fans mouths but when Dawn of War 2 copyed the Company of Heroes model it was seen as a resonable failure and turned into basicaly a SC2 custom map spin off last stand beacuse people hated the COH style game play in it so much compared to the original Dawn of War.

What on Earth are you talking about? DoW2 and its expansions were all received very well. Last Stand was only added in the second of the two expansions. Sure, its runaway success overshadowed the original single- and multiplayer somewhat, but that speaks more of its own quality than any failings of the original game modes. Some people were very annoyed with the CoH-style gameplay, but a large portion of the audience greatly appreciated it. Your post reads like someone who can't see past their own bitterness that the sequel wasn't more like the original.

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HubrisRanger

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Edited By HubrisRanger

Kinda fascinated that both EA and Activision just gave a giant NAWWWWWWW to everything presented.

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deerokus

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Edited By deerokus

@smiddy said:

I just hope Sega let Relic do their own thing.

They probably will, just about the only things Sega do right these days are the PC-only games from their British studios.

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mrfluke

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Edited By mrfluke

Koch produced a female torso

Volition/THQ produced a gigantic purple dildo bat and gave it to press members,

seems like a logical fit

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derskusmacher

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Edited By derskusmacher

Someone good please buy Vigil.....please :(

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Incapability

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Edited By Incapability

Why would Crytek buy Homefront? I mean, even for the price, which is comparatively peanuts, *what would you want to do with that fucking brand name?* Just... buy it to shut it down, or something?

Buy it and make a parody game, acknowledging how bad Homefront was? Maybe?

Hopefully, time will tell.

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ArtisanBreads

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Edited By ArtisanBreads

@Incapability said:

Why would Crytek buy Homefront? I mean, even for the price, which is comparatively peanuts, *what would you want to do with that fucking brand name?* Just... buy it to shut it down, or something?

Buy it and make a parody game, acknowledging how bad Homefront was? Maybe?

Hopefully, time will tell.

They've been working on Homefront 2 for quite some time already. Now they can continue and find a publisher to put it out.

Homefront 1 also sold more than 3 million copies. I don't know if people realize this.

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Quarters

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Edited By Quarters

Crytek was already going to make Homefront 2. That only makes sense.

Deep Silver getting Volition...that's interesting. Wonder how that will work out. Metro with them makes a weird sort of sense though. Foreign developers sticking together.

Regardless, this is really depressing news.

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Dallas_Raines

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Edited By Dallas_Raines

That Home front price is...hilarious.

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BeachThunder

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Edited By BeachThunder

To the people asking about Homefront; it would actually be actively bad for them to not buy it. Crytek are currently working on Homefront 2, so it would mean they'd have to either scrap the game they've been working on or completely rework it.

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demonbear

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Edited By demonbear

With Relic going to Sega along with the 40K franchise is great news for me. Sega is already doing great with Creative Assembly, which is a very similar developper and now SEGA is the absolute partner with Games Workshop for all Warhammer products, and i'm quite happy with that. Good stuff.

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saddlebrown

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Edited By saddlebrown

@Incapability: Somebody's got to stop Homefront 2 from being released. They're doing the Lord's work.

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LegalBagel

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Edited By LegalBagel

Any idea what the hell happens to Vigil and Darksiders now? What does not being bought mean? I don't see how it could end with the Darksiders name and whatever else they were working on just being detonated. The series wasn't super successful but it has to be worth at least something.

Seems to be quite the ignominious end for one of the few interesting new series started this generation. And as much as I found Darksiders 2 to be disappointing after the greatness that was the first game, you could tell those guys loved making games for gamers. Sad to see them die.

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ArtisanBreads

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Edited By ArtisanBreads

@whatisdelicious said:

@Incapability: Somebody's got to stop Homefront 2 from being released. They're doing the Lord's work.

By developing it and finding a publisher to put it out....

okay.

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beomoose

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Edited By beomoose

@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. So this is good news for Warhammer and Relic fans because now Relic is part of a program that knows how to make and promote strategy games.

Crazy to hear Vigil games go under.

You're typing what I'm thinking. I'd add that the potential to cross the streams of TCA's and Relic's mechanics over the long term puts a smile on my face.

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mnzy

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Edited By mnzy

Deep Silver was expanding already with Dead Island and other big publishing deals in Europe. This was their "in" on some meaningful properties and developers.

I don't think anybody except maybe Techland executives know if that is good or bad for Volition. Though, they will definitely be their most important asset.

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Castiel

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Edited By Castiel

Fuck I hope this doesn't mess anything up for South Park. It finally looks like we get a good South Park game and then this happens... I hope for the best all things considered.

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saddlebrown

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Edited By saddlebrown

@ArtisanBreads: I was kidding. I know that Crytek is making it, so they need to buy it to put out the next one, logic logic reasons reasons, etc. but man I hated that first game and it was cool reading a comment from another similar-minded duder; that's all.

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RenegadeDoppelganger

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The Lead Combat Designer at Vigil posted over at GAF and he sounds pretty bummed. I would be too.

I really loved both the Darksiders games and it saddens me that I won't get to play another and won't even get to see the studio's next project. Heart goes out to all the dudes out of a job today at Vigil.

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ArtisanBreads

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Edited By ArtisanBreads

@whatisdelicious said:

@ArtisanBreads: I was kidding. I know that Crytek is making it, so they need to buy it to put out the next one, logic logic reasons reasons, etc. but man I hated that first game and it was cool reading a comment from another similar-minded duder; that's all.

Sure, plenty of people thought it was bad. I am one of those people. But I'll say that I won't be surprised if Homefront 2 is quite good. This move made total sense.

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RobertOrri

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Edited By RobertOrri

I don't understand why Warner Bros didn't pick up Vigil. Seems like a pretty good fit.

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RobotHamster

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Edited By RobotHamster

@HubrisRanger said:

Kinda fascinated that both EA and Activision just gave a giant NAWWWWWWW to everything presented.

Probably the best new's to come out of this.

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sephirm87

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Edited By sephirm87

@Krataur said:

Sega owns Relic now...weird. I'm hoping for some kind of Creative Assembly/Relic collab in the future.

Warhammer 40k: Total War?

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justicejanitor

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Edited By justicejanitor

@RenegadeDoppelganger said:

The Lead Combat Designer at Vigil posted over at GAF and he sounds pretty bummed. I would be too.

I really loved both the Darksiders games and it saddens me that I won't get to play another and won't even get to see the studio's next project. Heart goes out to all the dudes out of a job today at Vigil.

That's a fucking bummer. I just finished Darksiders 2 and was looking very much forward to a sequel or two.

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saddlebrown

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Edited By saddlebrown

@ArtisanBreads: If it changes almost everything about the first game, then sure. It probably would've been easier for them to just scrap Homefront and build a new franchise based around some of the same conceits. I like the idea of a game all about America getting invaded that tries to really get an emotional reaction out of me, but wow, they screwed that up about as bad as they could in Homefront. Maybe they should ask David Jaffe for his notes from when he was developing a game like that.

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ArtisanBreads

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Edited By ArtisanBreads

@whatisdelicious said:

@ArtisanBreads: If it changes almost everything about the first game, then sure. It probably would've been easier for them to just scrap Homefront and build a new franchise based around some of the same conceits. I like the idea of a game all about America getting invaded that tries to really get an emotional reaction out of me, but wow, they screwed that up about as bad as they could in Homefront. Maybe they should ask David Jaffe for his notes from when he was developing a game like that.

If we are saying take off from the idea... Freedom Fighters man, Freedom Fighters. One of my very favorite games.

Off topic though.

@rebgav said:

Koch/Deep Silver doesn't seem like a big enough company to really carry Saint's Row forward in a meaningful way. I hope that I'm wrong on that and that the franchise goes from strength to strength on next-gen systems.

Relic going to Sega is either the best news or the worst news, depending on whether Sega has taken her medication today. If we're talking the Total War/ Football Manager publisher who turns out decent PC ports and sells their back-catalog dirt-cheap as downloadables then this is an awesome deal. If it's the psycho-Sega who squandered their relationship with PlatinumGames, dropped Bayonetta, is wasting the Aliens license, keeps making Sonic games, wants to charge you $9 for Sonic Adventure and so on, then this is crazy nonsense.

Well Koch put up more than 4 times what anyone else did for Volition so yeah. I think they believe in it and they are bigger than people think.

And you think SEGA's console side would fuck up Relic vs the great PC side? When Relic is a PC developer? And they'd be on the PC side? Relic is in good hands.

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SaturdayNightSpecials

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Fucking hell, it really is Deep Silver who got Saints Row.

I pray that they turn around and sell it quickly.

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Enigma777

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Edited By Enigma777

So bummed out about Vigil. I've been rooting for them since they showed of the original Draksiders for the first time. I really hope someone buys them! 

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saddlebrown

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Edited By saddlebrown

@RenegadeDoppelganger: I feel for those guys on a human level because that really does suck, but from a consumer level, everything about Darksiders 2 sounded like the exact opposite game I wanted it to be, so I'm not hugely surprised that it doesn't have the financial heft and interest from third-parties that it might have otherwise.

After reading his post that you linked to though, it's weird that Crawler didn't pull any weight though. Seems like they probably wouldn't have been that expensive to pick up and you'd have a potentially groundbreaking project in your portfolio.

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Poki3

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Edited By Poki3

@Elyhaym said:

@Poki3: I believe Relic owns it, although I cannot say for sure. In any event I'd wager that it would've gone with them to Sega.

That's my assumption that it went with Relic, but it's not a given. If I understand it correctly, THQ owned the IP, not Relic specifically.

It would be kind of tragic if the developer and the IP were separated again.

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mnzy

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Edited By mnzy

@SaturdayNightSpecials said:

Fucking hell, it really is Deep Silver who got Saints Row.

I pray that they turn around and sell it quickly.

To who, though? Interest wasn't that high, Ubisoft was the runner-up bidder and they offered significantly less.

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audiosnow

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Edited By audiosnow

I trust Metro with Koch.

I don't trust South Park with Ubisoft.

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penguindust

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Edited By penguindust

If Dead Island is any sign, I don't think we need to worry about a toned-down Saints Row 4.

Sega taking Relic feels odd. I'd like to see the next Sonic as a real-time strategy game.

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buft

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Edited By buft

@PenguinDust said:

If Dead Island is any sign, I don't think we need to worry about a toned-down Saints Row 4.

Sega taking Relic feels odd. I'd like to see the next Sonic as a real-time strategy game.

Sega publish the total war series so its not a huge stretch

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Dalai

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Edited By Dalai

@Alex: I just bought the Juiced franchise for 40 bucks so feel free to update your article.

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Hawkerace

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Edited By Hawkerace

Homefront wasn't the worst 5 dollars I spent... r-right guys? I liked the premise.

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generic_username

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Edited By generic_username

It is kinda sad that Homefront got bought while Vigil didn't.

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Chaoskiller2000

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Edited By Chaoskiller2000

OH NO what about Vigil Games and the Darksiders franchise!!!!!!

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Tidel

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Edited By Tidel

Anyone want to feel just a little more heartbroken about Vigil?

This post.

Dude is being a trooper. But it looks like they are well and truly done, and that's a fucking shame.

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DonPixel

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Edited By DonPixel

Damn! those prices scream: VIDEOGAMECRASH!

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Maurdakar

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Edited By Maurdakar

@rebgav: I was about to post good sir, but I believe you have summarized my thoughts!

Goodnight sweet THQ. You deserved better. But your mistakes, through Drawpad and Homefront, are undeniably your own.

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WarlockEngineerMoreDakka

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Blackmoore

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Edited By Blackmoore

@Tidel said:

Anyone want to feel just a little more heartbroken about Vigil?

This post.

Dude is being a trooper. But it looks like they are well and truly done, and that's a fucking shame.

Oh man, poor Vigil.

... so maybe you can imagine what it feels like when you read the list of who bought what only to discover your name is not on the list. Why? Did we do something wrong? Were we not good enough? Were we not worth 'anything?' Imagine that.

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M_Shini

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Edited By M_Shini

Sega seems like a good fit with the RTS stuff like total war, never even heard of koch or remember them in nay capacity.

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colourful_hippie

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Edited By colourful_hippie

@Blackmoore said:

@Tidel said:

Anyone want to feel just a little more heartbroken about Vigil?

This post.

Dude is being a trooper. But it looks like they are well and truly done, and that's a fucking shame.

Oh man, poor Vigil.

... so maybe you can imagine what it feels like when you read the list of who bought what only to discover your name is not on the list. Why? Did we do something wrong? Were we not good enough? Were we not worth 'anything?' Imagine that.

Wow, that's just fucking depressing. Those guys are great, I may have liked Darksiders 1 more than 2 but both are solid games in a franchise that I would have been glad to play another entry in. This is such a huge bummer.

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ebo

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Edited By ebo

@a5ehren said:

@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.

And how is that any different (Deep Silver I mean) then what THQ used to be a decade ago, aye?

Maybe, just maybe, Koch wants to get Deep Silver on the same boat as the big boys (big publishers, EA, Activision, Ubisoft) or at least try.

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tescovee

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Edited By tescovee

So Homefront gets a purchaser, but vigil cant? This world is cruel and dumb. Man, the 2 Darksiders games were some of my favorites...

I wonder what the plain is with the servers that are set up for co-op in SR 2-3?