Options
THQ selling studios and games
Jimmy_McNulty
Posts: 11,378
Forum Member
✭✭
Struggling video game publisher THQ announced today that the company has entered into a purchase agreement with a bidder to acquire "substantially all of the assets of THQ's operating business, including THQ's four owned studios and games in development." THQ has also filed for Chapter 11 bankruptcy protection in a Delaware court, the company says, to facilitate the sale of the publisher's owned studios and current games in development.
THQ's announcement says the company has entered into an agreement with a "stalking horse bidder" — a bidder chosen by a bankrupt company to avoid lower bids on THQ's assets — an affiliate of Clearlake Capital Group. THQ says it has acquired approximately $37.5 million in financing commitments from lenders Wells Fargo and Clearlake.
THQ says its publishing business will continue "without interruption during the sale period" and that development continues at the company's owned studios.
http://www.polygon.com/2012/12/19/3784984/thq-files-for-bankruptcy-protection-selling-studios-and-games
0
Comments
http://kotaku.com/5969846/thq-files-for-chapter-11-bankruptcy
This is the same style of Bankruptcy that Marvel went through in the 90's, they're still contracted to finish all current projects, which Jason Rubin has confirmed, Metro Last Light, Company of Heroes and indeed South Park: Stick of Truth. And plans for another Saints Row sequel are already underway.
Those 3 games come out around the same time as each other early 2013, i'm expecting each one to sell big. Especially The Stick of Truth. It's sad THQ couldn't hold out for alittle longer.