"EA buys THQ for $1". That's going to be next weeks news, right?
Hell no, EA isn't going to buy into THQ's debts.
I really hope that THQ are shopping their dev studios around, it's going to be crushing if they cancel the games and start laying people off.
I don't know quite how much THQ's debts are, but THQ has IP that would be extremely valuable to EA. Saints Row alone would be an extremely valuable asset to them. They don't have a GTA-style franchise. They would be buying into an established, well liked franchise unlike anything EA currently make. Add onto that a selection of other IP's, EA could make a bunch of money from THQ franchises.
Of course, it all depends on the size of THQ's debts as to whether or not that's worth their while, but there is a bunch of value in THQ.
Isn't EA in its own hole at the moment? Do they even have the capital to even be able to buy out THQs properties? EA has tried to make games like the ones THQ makes and they haven't paid off for them. In other words, I highly doubt EA would be interested. Considering Vivendi is looking to sell their gaming division(if rumors are true) then that means they aren't in the market. Even if Activision weren't up for sale they don't buy studios unless they make billions of dollars in revenue.