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    THQ Inc. (Toy Headquarters) was a global American developer and publisher of video games.

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

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    alex

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    Edited By alex
    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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    #1  Edited By alex
    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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    ShaggsMagoo

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    #2  Edited By ShaggsMagoo

    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.

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    CrossTheAtlantic

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    #3  Edited By CrossTheAtlantic

    @400lb_Gorilla: Same. Not to mention Metro as well.

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    Rincewind

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    #4  Edited By Rincewind

    Sega is going to ruin COH

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    DjTann3r

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    #5  Edited By DjTann3r

    :(

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    dr_mantas

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    #6  Edited By dr_mantas

    Koch? Sega? So much out of left field.

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    RiccochetJ

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    #7  Edited By RiccochetJ

    RIP Vigil :(

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    StarvingGamer

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    #8  Edited By StarvingGamer

    "for some reason"

    Hah!

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    #9  Edited By a5ehren

    @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.

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    MooseyMcMan

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    #10  Edited By MooseyMcMan

    If nothing else, at least Volition and Saints Row are still together.

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    Ett

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    #11  Edited By Ett

    SEGA is now the biggest RTS company in gaming... weird.

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    a5ehren

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    #12  Edited By a5ehren

    Also a fun note - the Homefront franchise rights were sold for a whopping $500,000. Volition and Relic brought back over $20M each.

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    Seedofpower

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    #13  Edited By Seedofpower

    Thank god. No EA, I was getting worried.

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    ZombiePie

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    #14  Edited By ZombiePie
    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.

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    Chris2KLee

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    #15  Edited By Chris2KLee

    Man, what a mess. I hope Relic does well under Sega, and I hope someone takes Vigil. Darksiders 2 might not have set the world on fire, but I would love them to make another.

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    Rirse

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    #16  Edited By Rirse

    @Rincewind said:

    Sega is going to ruin COH

    Just like they ruined Creative Assembly, their OTHER strategy game company?

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    chrjz

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    #17  Edited By chrjz

    This is weird.

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    #18  Edited By a5ehren

    @Seedofpower said:

    Thank god. No EA, I was getting worried.

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

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    Ravenlight

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    #19  Edited By Ravenlight

    @Alex said:

    • $500k Homefront (Crytek)

    This is the real tragedy here. Knock off one zero and the k and maybe you'd have a decent price.

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    Video_Game_King

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    #20  Edited By Video_Game_King

    Well, , at least you can rest assured with the knowledge that nobody was willing to pay a lot for the rights to Homefront, at least compared to everything else at the auction.

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    posh

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    #21  Edited By posh

    how much influence do publishers have over games beyond budget allocation? if it's the same dev teams these purchases shouldn't be too important, right?

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    MrGtD

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    #22  Edited By MrGtD

    I didn't know my expectations for Saints Row 4 could go any lower.

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    Krataur

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    #23  Edited By Krataur

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

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    SolidOcelot

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    #24  Edited By SolidOcelot

    Well Crytek was working on Homefront 2, so I guess that makes sense.

    Also I thought the letter stated that Take-Two picked up Vigil and the Darksiders franchise.

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    Barrabas

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    #25  Edited By Barrabas

    I hope Sega also got Relic's IPs. Well I'm sure the Warhammer 40K one goes back to Games Workshop to give to whomever they please. I guess Company of Heroes doesn't matter too much because Relic can just make another WWII game with a different name. I hope Sega got the Homeworld IP.

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    confirm4crit

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    #26  Edited By confirm4crit

    Do we assume that COH goes with Relic?

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    Lyfeforce

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    #27  Edited By Lyfeforce

    "Crytek has purchased the rights to the Homefront franchise for some reason."

    I have two responses to this:

    First, positive thinking-type reaction: Well if someone was going to right that Titanic, might as well be Crytek

    Second, gut instinct reaction: dafuq?

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    derekh1029

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    #28  Edited By derekh1029

    26 Million for Relic as the most valuable is awesome. Relic is such a good studio. Glad They will get to keep making games!!

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    Elwoodan

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    #29  Edited By Elwoodan

    Technically it's Techland's fault Dead Island is middling, as long as they leave Volition to their work that means more SR, and, if they thought the torso thing was a good idea, SR can pretty much get away with anything.

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    ripelivejam

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    #30  Edited By ripelivejam

    deep silver was a big surprise, pretty good get for them. what have they done besides dead island that was big? hope vigil finds a home...

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    MrMazz

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    #31  Edited By MrMazz

    Not sure I'd want KOCH to own the rights for Saints Row they don't exactly have a good track record. Would of much rather seen EA own them.

    Sega seems to have made out the best with Relic and CoH.

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    a5ehren

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    #32  Edited By a5ehren

    @Barrabas said:

    I hope Sega also got Relic's IPs. Well I'm sure the Warhammer 40K one goes back to Games Workshop to give to whomever they please. I guess Company of Heroes doesn't matter too much because Relic can just make another WWII game with a different name. I hope Sega got the Homeworld IP.

    AFAIK, the Homeworld IP was owned by Sierra, who was bought and shut down by Activision.

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    DoctorWelch

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    #33  Edited By DoctorWelch

    Interesting.

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    TheBioLover

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    #34  Edited By TheBioLover

    Koch also owns Red Faction, I believe.

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    WinterSnowblind

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    #35  Edited By WinterSnowblind

    @Seedofpower said:

    Thank god. No EA, I was getting worried.

    Apparently EA got the WWE licence.

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    Poppduder

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    #36  Edited By Poppduder

    Holy crap, with enough effort I could have pieced together the money for Homefront myself.  No wonder it sold, half a mil for a franchise must be chump change for Crytek.

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    Fleck0

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    #37  Edited By Fleck0

    Could not be happier about Sega picking up Relic. They've really been doing right by PC gamer the last few years

    Glad that EA isn't in this article (yet)

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    TepidShark

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    #38  Edited By TepidShark
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    a5ehren

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    #39  Edited By a5ehren

    @ripelivejam said:

    deep silver was a big surprise, pretty good get for them. what have they done besides dead island that was big? hope vigil finds a home...

    They did a Stalker prequel and the X space sims. Then a bunch of really, really bad games. I'm sure Alex Navarro has seen plenty of their handiwork over the years.

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    Vexxan

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    #40  Edited By Vexxan

    Someone bought Homefront and not Darksiders?

    What.

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    scroll

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    #41  Edited By scroll

    Relic will be fine with Sega. Company of heroes 2 is safe and hopefully the Atlas project continues. Oh and HOMEWORLD 3 PLEASE

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    ChadMasterFlash

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    #42  Edited By ChadMasterFlash

    As long as Volition gets to keep making Saints Row their way I'll be happy.

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    daggon55

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    #43  Edited By daggon55

    @posh said:

    how much influence do publishers have over games beyond budget allocation? if it's the same dev teams these purchases shouldn't be too important, right?

    Budget allocation is about the largest influence you can have. If a new publisher can't support what the studio is used to they may not be able to retain all their staff.

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    enai

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    #44  Edited By enai

    Total War isn't that bad, so it comes as good news to me that Sega acquired the rights to Company of Heroes. Hopefully this ensures that the series continues as it is, a solid RTS, and won't be diluted to some FPS knock-off, ala Command and Conquer Renegade when EA acquired Westwood. C&C 4 also comes to mind. Maybe i'm just pleased that EA in particular didn't get the rights. I suppose they have enough trouble with the C&C franchise to not even bother with Company of Heroes.

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    weeber

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    #45  Edited By weeber

    Did SEGA take the Homeworld IP?

    Sega has done right with creative assembly, seems like a good place for Relic

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    a5ehren

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    #46  Edited By a5ehren

    @Vexxan said:

    Someone bought Homefront and not Darksiders?

    What.

    DS2 just came out. Whoever bought Vigil/Darksiders would have to commit a few million dollars to get the next installment made. I assume the companies involved looked at the numbers and decided that didn't make any sense.

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    Elwoodan

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    #47  Edited By Elwoodan

    Relic will almost certainly keep the 40K licence, as Games Worksjop has said in the past that they love to work with Relic, who respects their IP, so if GW has a choice I'm sure it'll stick with Relic.

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    Stimpack

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    #48  Edited By Stimpack

    Koch Media. That's crazy. I don't know how I feel about most of this, but at least it isn't EA and at least it wasn't all bought up by one company. So you know the companies who bought these franchises will more than likely not abandon them.

    Also, I really dislike Ubisoft.

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    baltimore

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    #49  Edited By baltimore

    Ubisoft getting South Park isn't a bad idea. That's going to bring them a lot of money. Koch Media getting Volition sounds like a perfect fit. Volition is going to have a dismembered torso as a weapon in the next Saints Row, just you wait. The others sound ok. Not sure what these companies are going to do with what they just bought though. Still, the creditors were right. They got more than $60 million selling everything separately ($71.3 million).

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    Jonny_Anonymous

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    #50  Edited By Jonny_Anonymous

    Oh great, looks like there will be no more good Warhammer 40K games

    This edit will also create new pages on Giant Bomb for:

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