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[dionysus]

Viacom's funding that.

Obsidian's interview with Kotaku this week explained that Viacom was funding stick of truth but now is funded by THQ. Well, wording may say "overseen" or whatever.

Regardless a 1st half 2013 release probably means stick of truth is safe.

 

[jobber]

WWE would get their license back and buy the studio that created WWE xx for THQ. Vince wanted to get into video games a while ago but didn't have the cash for it at the time. He does now!

He's going to flood the market with Randy Orton action adventure games

Marine 4: The Game

 

[Shao Kahn Brewing a Stew]

Obsidian's interview with Kotaku this week explained that Viacom was funding stick of truth but now is funded by THQ. Well, wording may say "overseen" or whatever.

Regardless a 1st half 2013 release probably means stick of truth is safe.

It is indeed safe:

Saints Row, Homefront, Company of Heroes, Metro 2033 and South Park are all safe.

 

[Evolution_1ne]

didn't homefront do well?

edit: I guess so

edit+: Crytek are doing homefront 2?

 

[Rflagg]

It is indeed safe:

Saints Row, Homefront, Company of Heroes, Metro 2033 and South Park are all safe.

Very good news

 

[Xun]

Sad.

Goodbye THQ!

 

[Lasthope106]

Much sooner than I expected. Damn. ;_;

Hope they come out of this one ok.

 

[Lionel Mandrake]

I really hope the studios manage to stay together. It'd be a real shame to lose groups like Volition.

 

[unknownhero]

This totally sucks, i feel for anyone working at or with THQ right now. I was hoping they would at least last for another year.

 

[patapuf]

at least the Q1 games are still coming out. Sad news.

Hopefully they manage to sell of the studios as a whole

 

[Tex117]

I would guess most of these licenses that THQs held are no longer valid, but again I do not have the contracts in front of me to confirm that. Depends on if they are executory or not.

*bro-fist*

Serioulsy.

Most case law has indicated that licences are executory contracts, but its still a contested issue.

 

[checkeredknight]

I don't play many THQ games it seems, but it always leaves me with a bad taste in my mouth whenever I see companies in this industry going under. Sony Liverpool devs, Eurocom and now this. When the health of the industry is tied to the health of your future earnings, it gives a very different feeling then when I used to sit on the sidelines and watch. Hope everyone at THQ makes a fast recovery. There are more jobs out there, but it'll be sad to see them become no more.

Of all the memories to have of the company, for some reason this sticks in my mind. I never expected to see their logo on the front of a Sonic game!

 

[Valnen]

It is indeed safe:

Saints Row, Homefront, Company of Heroes, Metro 2033 and South Park are all safe.

Saints Row and South Park being safe is the best news.

 

[Derrick01]

Saints Row and South Park being safe is the best news.

Honestly those 2 would be safe no matter what. They're too valuable as IPs to just fade away.

 

[Master Thespian]

WWE would get their license back and buy the studio that created WWE xx for THQ. Vince wanted to get into video games a while ago but didn't have the cash for it at the time. He does now!

He's going to flood the market with Randy Orton action adventure games

Marine 4: The Game

God, I hope not. Vince has been terrible at everything non-wrestling he (or his wife) has ever tried. Shit, he's not even that good at making a wrestling product.

 

[MYeager]

WWE would get their license back and buy the studio that created WWE xx for THQ. Vince wanted to get into video games a while ago but didn't have the cash for it at the time. He does now!

He's going to flood the market with Randy Orton action adventure games

Marine 4: The Game

Yuke's wasn't owned by THQ, though I'm certain they would want to work with whoever obtains the production rights.

 

[TheVoidDragon]

Saints Row and South Park being safe is the best news.

Has there been any sort of news about the new Saints Row? I hope it's next-gen.

 

[PaulLFC]

What does "safe" mean in this case though? Safe as in they continue development up until release at the original devs and for the games it's as if nothing happened, or safe as in the IP is sold off and it's up to the buyer whether they keep the original team, appoint another team or cancel the game? I guess it's probably too early to know yet, but I hope it's the first outcome.

 

[AHA-Lambda]

So when should I start buying up old THQ games before they go OOP?

 

[Card Boy]

So when should I start buying up old THQ games before they go OOP?

I already own most of them on Steam so im safe.

 

[Nealand Liquor]

Yuke's wasn't owned by THQ, though I'm certain they would want to work with whoever obtains the production rights.

I hope yukes isn't involved with the wwe games after this. Imo they have been horrible for a number of years and only getting worse, to be fair I haven't played 13 though. I do hope that whomever does get the wwe rights puts an effort to get the aki people back on board.

 

[Toppot]

 

[Mooreberg]

Hopefully the development teams remain intact. They have published some good games, just nothing big enough to make up for the financial black hole that uDraw became. Their expectations for games like Homefront were out of whack as well.

 

[El_Chino]

R.I.P. THQ I enjoyed your games

Any word if they have or had next-gen games in the works?

 

[markot]

Just 37 million? Valve should buy them!

 

[deleted]

Do we know anything about the Warhammer ex-MMORPG? I still have high expectations for this one for some reason..

 

[Htown]

BAHAHAHAH! I KNEW IT! I called that Clearlake would acquire the assets a couple of months ago!

For those of you who are wondering, Clearlake is a private equity/corporate restructuring firm that works with turning around troubled companies. THQ was "exploring options" with Clearlake for a potential sale of the company.

Now, here's why this isn't a surprise to me: a good buddy of one of Clearlake's managing partners is Jason Rubin.

Oh SHIT.

Haha, remember this?

“THQ has incredible internal and external game development teams, and an exciting slate of games in its development pipeline,” said Jason Rubin. “The recent transformation of THQ into a creator of wholly-owned IP has placed it in a perfect position to leverage future trends in the game business. I look forward to working with the management team and board to realize the company’s goals.”

"The company" in this case being Clearlake, and "goals" being "flipping THQ's core IPs for a profit", I assume.

 

[exmachina64]

Just 37 million? Valve should buy them!

It'd be good for laughs at the very least, if THQ could shed most of its debt. Valve would take the last step and become a full publisher.

 

[ThatStupidLion]

so is it smart to buy THQ stock soon? before it gets bought?

 

[GK86]

Just 37 million? Valve should buy them!

I would be surprised if someone else didn't bid on them.

so is it smart to buy THQ stock soon? before it gets bought?

Stock is frozen I think.

 

[jcm]

so is it smart to buy THQ stock soon? before it gets bought?

No, that wouldn't be smart. It isn't getting bought. It's going into bankruptcy. Current shareholders are most likely going to be wiped out completely.

 

[Quentyn]

Wow, the WWE is the second largest creditor. THQ owns them over 45 million

1. Wilmington Trust, N.A. (as Indenture Trustee for 5% Notes Due 2014): $101.9 million
2. World Wrestling Entertainment Inc. (WWE): $45.1 million (trade debt)
3. Yuke’s Co. Ltd.: $17.8 million (trade debt)
4. Mattel Inc.: $12.8 million (trade debt, listed as contingent)
5. Viacom International, Inc.: $10 million (trade debt, listed as contingent)
6. JAKKS Pacific Inc.: $4 million (settlement)
7. Microsoft Licensing, Inc.: $2.9 million (trade debt)
8. Starcom Mediavest Group Inc.: $2.6 million (trade debt)
9. ZUFFA, LLC: $1.9 million (trade debt)
10. Technicolor Payments: $1.7 million (trade debt)
11. Pipeworks Software: $1.1 million (trade debt, listed as contingent and disputed)
12. Sony Pictures Television: $794,000 (trade debt, listed as contingent and disputed)
13. Lucasfilm Ltd.: $267,000 (trade debt)
14. Acquia, Inc.: $251,000 (trade debt)
15. Binari Sonori S.R.L.: $245,000 (trade debt)

http://chapter11cases.com/largest-unsecured-creditors-of-thq-inc/

 

[luxarific]

Sad to see THQ finally at roads end. They have a few potentially heavy hitting games in the pipeline, I really hope they somehow can survive for them to be released.

EDIT: Homefront 2 at 4 million sales? Jeezus. How much did the first one sell?

They are fucking insane if they think a sequel will sell twice as much as the first game (2.4 million copies of Homefront shipped). Also, if you're going to do a game about America occupied, it should be a game about a modern day Civil War - that would actually be interesting and slightly more plausible than a North Korean invasion (but only slightly).

 

[ii Stryker]

I get the feeling that Mike Kulas had seen this coming which is why he left after SR3 was all but in the can.

THQ will join the ranks of Acclaim, Midway, Atari, etc. etc.

 

[Pachterballs]

How can a company that sells that many games, go bankrupt like THQ has?

 

[GK86]

How can a company that sells that many games, go bankrupt like THQ has?

Bad management, a big bomb(uDraw).

 

[Culex]

Looks like my prediction was off 1 month.

 

[Lime]

I really, really hope the Homeworld IP does not end in limbo

 

[Jake Tower]

Oh SHIT.

Haha, remember this?



"The company" in this case being Clearlake, and "goals" being "flipping THQ's core IPs for a profit", I assume.

Rubin is gonna Gordon Gecko the company.

 

[Green Yoshi]

Nintendo should buy THQ, so the WiiU would be more attractive to core gamers. But that would be very untypical for Nintendo, they don't do such things.

 

[Dueck]

Metro: Last Light, how very fitting... I really hope that its release is not impacted at all. I believe THQ is merely publishing it though, so it shouldn't matter... It better not matter.

Has anyone made an OT for it yet? I'm pretty excited.

 

[markot]

Except THQ has definate value and potential. I think they are more interested in that then just turning it over for a quick buck.

I mean, Activision was worth what before Cod?

I dont want Nintendo to buy it cause I like Relic and their PC stuff >.>

 

[Nirolak]

Except THQ has definate value and potential. I think they are more interested in that then just turning it over for a quick buck.

I mean, Activision was worth what before Cod?

$5.65 billion

 

[victreeb3l]

This is amazing.

Sad to see em go, hope anyone let go can land on their feet soon.

 

[K.Jack]

Preparing myself for Relic to be bought by a company I hate deeply.....

@$%& this life.

$5.65 billion

Oh is that all?

 

[Dueck]

Except THQ has definate value and potential. I think they are more interested in that then just turning it over for a quick buck.

I mean, Activision was worth what before Cod?

I dont want Nintendo to buy it cause I like Relic and their PC stuff >.>

Of all the major publisher bankruptcies, this one is the most surprising. Though THQ has been on the ropes for a while, Saints Row, Metro, Darksiders, Company of Heroes, Dawn of War, and Homefront are all franchises that have more worth than the current financial situation would have you believe. I sincerely hope they do end up in the hands of somebody who cares about them, and won't just acquire all the licenses and tarnish them with poor management.

 

[Nemo]

So this was all a big ruse to turn a quick profit? Awww shit

 

[EternalGamer]

Did anyone post a link to this yet:

But what does “Chapter 11” mean? What will happen to the games you are expecting? The series you love? And what about the people and teams that make them?

The most important thing to understand is that Chapter 11 does not mean the end of the THQ story or the end of the titles you love. Quite the opposite is true, actually.

Chapter 11 is a safety net for U.S. companies. American Airlines is currently in Chapter 11 restructuring, yet I flew back and forth on that airline when I visited Volition two weeks ago. Donald Trump and his companies have been in Chapter 11 four times. You can add to that list household names such as Macy’s, Eddie Bauer, the Chicago Cubs, Chrysler, Delta Airlines, General Motors, the Pittsburgh Penguins, Marvel Studios, and MGM, among many others.

MGM filed Chapter 11 two years ago, and this year it released “Skyfall” and “The Hobbit,” two of the biggest titles of the year. That’s what I mean when I say new start!

Our Chapter 11 process allows for other bidders to make competing offers for THQ. So while we are extremely excited about the Clearlake opportunity, we won’t be able to say that the deal is done for a month or so.

Rest assured that the goal throughout the sale process has been to preserve our teams and our products. So no matter what the outcome in 30 days, as long as we have accomplished this goal, I will be satisfied.

Whatever happens, the teams and products look likely to end up together and in good hands. That means you can still pre-order Metro: Last Light, Company of Heroes 2, and South Park: The Stick of Truth. Our teams are still working on those titles as you read this, and all other rumored titles, like the fourth Saints Row, the Homefront sequel, and a lot more are also still in the works.

 

[HerbertFish]

Anyone know what the bid was by Clearwater?

 

[pieatorium]

nvm i got my lyrics mixed up :O