THQ files for bankruptcy

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#1 Posted by BlackLagoon (1457 posts) -

So, it would appear THQ is done for:

http://blogs.barrons.com/techtraderdaily/2012/12/19/thqi-halted-for-news/?mod=yahoobarrons

THQ has announced that it has “entered into an asset purchase agreement with a ‘stalking horse bidder,’ affiliates of Clearlake Capital Group L.P., to acquire substantially all of the assets of THQ’s operating business, including THQ’s four owned studios and games in development,” and that it will file under Chapter 11 in U.S. Bankruptcy court in Deleware.

Hope South Park: Stick of Truth finds a new home. :/

#2 Posted by Phatmac (5726 posts) -

:(

#3 Posted by TheHBK (5506 posts) -

Oh god no! The shit has been in the air for a while now and has officially hit the fan.

#4 Posted by believer258 (11984 posts) -
Hope Metro: Last Light finds a new home.

Fixed that for you.

#5 Edited by Pr1mus (3950 posts) -

Maybe the company is done but i doubt any of their more popular brands will have any difficulty whatsoever finding a new home. The games will still come out. At least the Volition and Relic stuff. I don't know about Vigil and whoever made Metro.

#6 Edited by DrSwank (442 posts) -

ouch. all because of this...

maybe not all, but largely in part of.

#7 Posted by cmblasko (1281 posts) -

Although THQ's troubles have been known for some time it's still terrible that this has to happen, especially around the holidays. Hope everyone who is affected lands on their feet as soon as possible.

I am most interested to see what happens to Saint's Row, South Park and the WWE license after all is said and done.

#8 Posted by Animasta (14711 posts) -

@believer258 said:

Hope Metro: Last Light finds a new home.

Fixed that for you.

consider how it's probably very close to being done, it will.

I honestly hope someone like Square picks up the company, they're the only ones I can think of that'll do the stuff in their catalog right.

#9 Posted by Demoskinos (15009 posts) -

Haha well no wonder the THQ guys were so dodgy in announcing WWE 14' fantastic. Now the WWE license can be given to another company.

Online
#10 Posted by believer258 (11984 posts) -

@Animasta said:

@believer258 said:

Hope Metro: Last Light finds a new home.

Fixed that for you.

consider how it's probably very close to being done, it will.

I honestly hope someone like Square picks up the company, they're the only ones I can think of that'll do the stuff in their catalog right.

You keep saying things that I agree with here for the past few days.

#11 Posted by cmblasko (1281 posts) -

@Demoskinos said:

Haha well no wonder the THQ guys were so dodgy in announcing WWE 14' fantastic. Now the WWE license can be given to another company.

I could see EA making a grab for it. Maybe even Activision. The games still sell fairly well, right?

#12 Edited by DrSwank (442 posts) -

update (discovery): haha, watch these sidebyside synced.... lol

@TheHBK said:

Oh god no! The shit has been in the air for a while now and has officially hit the fan.

#13 Edited by Pr1mus (3950 posts) -

@Animasta said:

@believer258 said:

Hope Metro: Last Light finds a new home.

Fixed that for you.

consider how it's probably very close to being done, it will.

I honestly hope someone like Square picks up the company, they're the only ones I can think of that'll do the stuff in their catalog right.

I'd like to see Take 2. THQ could become sort of an intermediary like 2K or Rockstar are under Take 2. From the outside it seems like companies under Take 2 have more freedom to take on projects of their own compared to what they would have with a lot of the other major publishers.

Square would be great too though, they did great with Eidos.

#14 Posted by McGhee (6094 posts) -

Someone please save Saints Row. 

#15 Posted by Phatmac (5726 posts) -

So who wants to get some money to buy the Homeworld license?

#16 Posted by Animasta (14711 posts) -

@Pr1mus said:

@Animasta said:

@believer258 said:

Hope Metro: Last Light finds a new home.

Fixed that for you.

consider how it's probably very close to being done, it will.

I honestly hope someone like Square picks up the company, they're the only ones I can think of that'll do the stuff in their catalog right.

I'd like to see Take 2. THQ could become sort of an intermediary like 2K or Rockstar are under Take 2. From the outside it seems like companies under Take 2 have more freedom to take on projects of their own compared to what they would have with a lot of the other major publishers.

Take two already has GTA though, wouldn't it be weird for them to put out both GTA AND saints row?

#17 Posted by Duff_McWhalen (23 posts) -

I hope Relic stays together in some way.

#18 Posted by Jeffsekai (7042 posts) -

This makes the Emperor upset.

#19 Posted by Azteck (7449 posts) -

Goddammit, someone better pick up the Saints Row franchise and not fuck it up.

#20 Posted by rahulricky (249 posts) -

Just saw Ryan Davis' Twitter message, I think Saints Row 4 with GB as creative directors is the only good potential* outcome of this whole thing.

*ok so not at all likely, but the potential is there.

#21 Posted by Mister_V (1373 posts) -

Man right before Christmas. That sucks

#22 Posted by Hailinel (25179 posts) -
@McGhee
Someone please save Saints Row. 
#23 Posted by BlackLagoon (1457 posts) -

@believer258 said:

Hope Metro: Last Light finds a new home.

Fixed that for you.

Heh, South Park was the first thing that came to mind, but really, I wish the best for all of THQ's properties and employees. As for A4 and Metro, they're privately held, and may get off easy here compared to say, Relic and Vigil.

#24 Posted by Pr1mus (3950 posts) -

@Animasta: Imagine Volition still in control to do whatever crazy nonsense they want and at the same time maybe get some backing to reach those incredible production values Rockstar has. One can dream. :'D

#25 Posted by kidman (470 posts) -
#26 Posted by Phatmac (5726 posts) -

So EA pick up the Siants Row license right?

#27 Posted by Vinny_Says (5719 posts) -

@McGhee said:

Someone please save Saints Row.

Rockstar should buy it.

#28 Posted by Barrabas (326 posts) -

When THQ goes down I just hope someone picks up Relic intact. Other developers have been hit and miss, even Volition, but Relic is pretty consistently awesome.

#29 Posted by OneKillWonder_ (1785 posts) -

Aw man, this day was inevitable, but I didn't think it would happen before the end of the year. Really too bad. Though, like everyone's saying, Volition, Relic, Vigil, and 4A will probably be fine and their respective games will still make it out. I really hope this doesn't impact the release of Metro and South Park too heavily.

#30 Posted by Animasta (14711 posts) -

@BlackLagoon said:

@believer258 said:

Hope Metro: Last Light finds a new home.

Fixed that for you.

Heh, South Park was the first thing that came to mind, but really, I wish the best for all of THQ's properties and employees. As for A4 and Metro, they're privately held, and may get off easy here compared to say, Relic and Vigil.

they will get off easy, cause for as little I know of copyright law, I'm pretty sure the developer owns the content, THQ was just the publisher; as will south park, most likely.

#31 Posted by NoobSauceG7 (1258 posts) -

That's such a shame. Very sad.

#32 Posted by SerHulse (685 posts) -

Wow, I hope Relic come out of this unscathed.

#33 Posted by Hockeymask27 (3683 posts) -

Finally The WWE licence can be free. I hope South park is picked up as well.

#34 Posted by altairre (1214 posts) -

I hope Metro and especially Saints Row find a new home. Maybe somebody will do something decent with the WWE license.

#35 Posted by Benny (1953 posts) -

@drewmaw: Pretty much this and a lack of any alternate revenue stream. Not a great way to run a business when you have almost no money coming in for months. That's why they literally had to turn to charity.

#36 Posted by Brodehouse (10067 posts) -

Does not seem like an EA pickup. EA picks things up right as they're cresting (BioWare, Popcap, even their shares of Take-Two), not when they're bottoming out (look who owns Midway's corpse; Warner Brothers).

Here's my two things to offer; Square, like everyone says. Makes sense.

What about... Bethesda? Which is to say, Zenimax?

Online
#37 Posted by BirdkeeperDan (400 posts) -

This was plain to see for someone from a financial background. But don't think that this means the assets just disappear. If there is a profit to be made on games THQ had in development they still have a pretty good (better than not) chance of being finished.

#38 Posted by Hyuzen (459 posts) -

And coming 2015.... Ryan Davis' The Saints Row

Ya, that really sucks for all those THQ folks right before Christmas, hope other companies reach out to pick those folks up if mass layoffs occur.

#39 Posted by HarlechQuinn (450 posts) -

Oooh man, that really sucks... Hope that doesn't impact Obsidian too much and that Relic stays somehow intact... What a bummer...

#40 Posted by zeekthegeek (391 posts) -

If people read the article, it says that THQ is continuing operation, just changing owners. The games are going nowhere else, they will still be published under the name THQ and the studios operating under THQ will continue as well.

#41 Posted by Cold_Wolven (2257 posts) -

So what will happen with Metro: Last Light, will this bidder just provide the necessary finances to finish the project or will the game have to be delayed until a game publisher picks up the title? Hopefully the Saints Row franchise also find a good home.

#42 Posted by psylah (2181 posts) -

Hey guys what's goin on in this publishing hou...

AW SHIT

#43 Posted by AlexW00d (6302 posts) -

I wonder if 4A will just self publish Metro? They could get away with it for the PC version pretty easily I would think, maybe not the consoles, but it's hardly a console game anyway. Eh, as long as it and CoH are fine (which they probably will be, the CoH Alpha just started after all) then I am fine. Shame for all THQ staff though.

#44 Posted by Kidavenger (3582 posts) -

That's pretty wild, I really expected them to pull out of this fine, they seemed to have a pretty good operation going after cutting most of the fat, it's too bad that past mistakes have killed them.

I'm sure Relic Entertainment and Volition Incorporated will be fine, but whatever Patrice Désilets was working on is surely sunk and that sucks, I'm just now getting into Assassin's Creed

#45 Posted by EquitasInvictus (2035 posts) -

This thread sounds like one of those catastrophic disasters during which parents are forsaking their own lives to save their children.

Really interested to see where everything ends up as a result of this, but it's a huge bummer, nonetheless. It's like no one is financially safe in the industry anymore.

#46 Posted by MikkaQ (10316 posts) -

Man that's... shit. I knew it was coming but this still doesn't seem real. Also it's very sad to see the WWE franchise have to find a new home after like 14 years. I hope it stays out of EA's hands, I don't like how they do sports stuff.

#47 Posted by MrKlorox (11209 posts) -

Well that really sucks. We all knew it was coming, but it's finally happened. I hope they can find a way out of it because a lot of really cool stuff came from them.

#48 Posted by Ravenlight (8040 posts) -

@McGhee said:

Someone please save Saints Row.

Save it and save the amazing working title for the next game.

@Phatmac said:

So who wants to get some money to buy the Homeworld license?

Who wants to scrape up some pennies and buttons and buy the Homefront license?

Replace "fax machine" with "Homefront"

#49 Posted by VisariLoyalist (2995 posts) -

@McGhee said:

Someone please save Saints Row.

yeah for christ's sake that franchise is golden. Also what will happen to Company of Heroes 2

#50 Posted by VisariLoyalist (2995 posts) -

@zeekthegeek said:

If people read the article, it says that THQ is continuing operation, just changing owners. The games are going nowhere else, they will still be published under the name THQ and the studios operating under THQ will continue as well.

you person who reads you are so smart

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