THQ possibly done

[bigbob]

Re: THQ possibly done

What is "it"? From the rest of the post I'm guessing the WWE license? I'm sure EA is going to end up with that one.

"It" is the exact reason this topic was made.

THQ.

[Burns11]

Re: THQ possibly done

The auction is for individual studios and IP.

[bigbob]

Re: THQ possibly done

The auction is for individual studios and IP.

That's not entirely true.

If someone makes a bid on THQ that is more then all of the individual final bids for each division combined, then that one company acquires all of THQ.

THQ acknowledging the details of yesterday's reported bankruptcy proceedings this morning, confirming its assets will only be purchased a la carte if individual offers exceed a whole buyout.

As things stand now, we know that private equity firm Clearlake Capital Group has offered "$60 million, including a new $10 million note for the benefit of the company's creditors." What this means is that anybody offering more for the whole of the company can take THQ from the cushy speed agreement made between THQ executives and Clearlake.

[mgoblue]

Re: THQ possibly done

WB is probably more intrested in Saints Row,Darksiders and Red Faction than WWE. Double Fine is just trying to buy their own stuff.

Is Double Fine trying to get Psychonauts and games like that?

[tbennett54]

Re: THQ possibly done

Is it the 22nd or the 23rd?

[Burns11]

Re: THQ possibly done

That's not entirely true.

If someone makes a bid on THQ that is more then all of the individual final bids for each division combined, then that one company acquires all of THQ.

Not sure where you got that from, but it's not the case. Somebody has to exeed the clearlake bid, then they will auction stuff individually. Somebody other than clearlake coming away with the whole thing is unlikely.

[bigbob]

Re: THQ possibly done

Not sure where you got that from, but it's not the case. Somebody has to exeed the clearlake bid, then they will auction stuff individually. Somebody other than clearlake coming away with the whole thing is unlikely.

confirming its assets will only be purchased a la carte if individual offers exceed a whole buyout

If someone bids $80 million on THQ, and the bids for their individual divisions does not meet the $60million, then that one group who bid $80 million gets everything.

[Burns11]

Re: THQ possibly done

That's not going to happen though, that's kind of my point. Nobody wants the entire thing, besides clearlake I guess which probably just wanted to screw over the debt holders to flip THQ for profit. So EA, Activision, and possibly Ubisoft will bid just over clearlake to get to the auction, then during the auction the marquee titles/studios will approach the clearlake bid on their own.

THQ has a lot of assets publishers won't want, assets that would end up costly to dump, so nobody is going to throw up large bids for the whole thing. It wouldn't shock me if the likes of Saints Row and dev goes for more than the highest overall THQ bid.

[goh]

Re: THQ possibly done

Is Double Fine trying to get Psychonauts and games like that?

I'm pretty sure THQ doesn't own Psychonauts. They're trying to get Stacking and Costume Quest,perhaps that other arcade game. THQ certainly doesn't own Double Fine's 'The Cave' releasing wensday for the low low price of $15.

[mgoblue]

Re: THQ possibly done

I'm pretty sure THQ doesn't own Psychonauts. They're trying to get Stacking and Costume Quest,perhaps that other arcade game. THQ certainly doesn't own Double Fine's 'The Cave' releasing wensday for the low low price of $15.

Ahhh, i forgot about those games, makes sense

[Burns11]

Re: THQ possibly done

They do hold the European publishing rights to Psychonauts. Costume Quest and Stacking, I'm not sure how many rights THQ owns, I know they published them for the consoles but Double Fine self published them for PC.

[mestevo]

Re: THQ possibly done

Gets even more complex:

South Park Studios Objects to Stick of Truth in THQ Sale
More than $2 million sought for defaulted payments.

http://www.ign.com/articles/2013/01/22/south-park-studios-objects-to-stick-of-truth-in-thq-sale?utm_campaign=ign+main+twitter&utm_source=twitter&utm_medium=social

South Park Studios has formally objected to the inclusion of South Park: The Stick of Truth in today’s auction of THQ games. According to a formal objection filed in U.S. Bankruptcy Court, South Park Studios says its original deal with THQ excuses it “from accepting performance from or rendering performance to a party other than THQ.”

The document refers to South Park Studios’ original deal with THQ -- referred to as a Deal Memo -- which was signed on June 29, 2011. According to South Park Studios, THQ has "not provided adequate assurance of future performance of the Deal Memo in the hands of a prospective purchaser." South Park Studios is seeking $2.275 million in defaulted payments from THQ and says the Deal Memo gives it “the option to acquire from THQ all elements of the South Park game and related products” as long as it “pays to THQ the actual costs incurred and paid by THQ."

THQ has responded to these claims, noting that because the license was exclusive, it’s eligible for sale. THQ says it will "provide an appropriate evidentiary record at the Sale Hearing” and allow the court to determine whether or not The Stick of Truth is eligible to be included in the sale.

The auction is scheduled for 3:00 p.m. Eastern Time today.

[mestevo]

Re: THQ possibly done

@InsideGaming
Some rumbles are circulating about the THQ bids, putting Koch Media (Deep Silver) in the lead for Volition and Sega for Relic.

[jmood88]

Re: THQ possibly done

That sounds awful.

[mestevo]

Re: THQ possibly done

rofl.

@KazHiraiCEO
Sony made a great acquisition at the THQ auction today. We bought the Udraw franchise and 250,000 unsold Udraw tablets for just $342.56!

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