THQ possibly done

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  • BenGerman
    No Place Better
    • Sep 2008
    • 2752

    #61
    Re: THQ possibly done

    Looks like Ubisoft is taking over, including the WWE division...

    Ubisoft is interested in bidding on THQ's suite of studios and IP, MCV's sources have suggested.
    Writer for Operation Sports

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    • jmood88
      Sean Payton: Retribution
      • Jul 2003
      • 34639

      #62
      Re: THQ possibly done

      Originally posted by BenGerman
      Looks like Ubisoft is taking over, including the WWE division...

      http://www.vg247.com/2012/12/21/ubis...in-bid-rumour/
      It would be funny if Patrice Desilets ended up working for Ubisoft again.
      Originally posted by Blzer
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      • mgoblue678
        MVP
        • Jul 2008
        • 3371

        #63
        Re: THQ possibly done

        Only thing I really care about at the moment from THQ is the Darksiders series. Darksiders 2 is one of my favorite games of the year. Was hoping to see a couple more games in the series, hopefully another company will acquire the studio and rights.
        My Teams

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        • dickey1331
          Everyday is Faceurary!
          • Sep 2009
          • 14285

          #64
          Didn't THQ release Jeopardy and Wheel of Fortune recently.


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          • goh
            Banned
            • Aug 2003
            • 20755

            #65
            Re: THQ possibly done

            They can't even go bankrupt right apparently...

            Creditors don't expect to get everything they're owed when a company enters any form of bankruptcy, but THQ's say they're getting screwed in the publisher's arrangement to sell off its assets and start over. Three creditors have filed objections, reports Gamasutra, and so has the government trustee overseeing the bankruptcy.

            The creditors allege THQ and the private equity firm Clearlake Capital Group have rigged the sale, ostensibly an open bidding process, to ensure that Clearlake gets all of the company's assets. They've got a problem with THQ's existing management team staying in control. And they say the whole process has been sped up—and deliberately initiated the week before Christmas—in order to guarantee Clearlake wins out.

            All of this, they say, points to a process where THQ and Clearlake are not reorganizing the company in a way that's as fair to creditors as it is to THQ, which is what the bankruptcy process is supposed to be about. The bankruptcy trustee herself says the sale's timing, the fees and expenses to be charged to bidders, and minimum overbid amounts called for "may chill bidding." Other than Clearlake's bid, of course, which gets THQ for $60 million if no one else steps forward.

            In short, the creditors want THQ's assets sold for as much as possible, so they take less of a loss when THQ's debts are settled. That would involve a process with multiple bidders buying up parts of the company. THQ and Clearlake want to keep everything together in one transaction.

            THQ has called Clearlake's offer an "invest[ment] in a new start for our company," one that allows THQ to finish games like Metro: Last Light and South Park: The Stick of Truth. Clearlake would get the studios, code and game franchises THQ owns and would shoulder the obligations of the contracts it has. (Notably, nothing has been said about the future of the WWE line of games THQ makes, while licensed titles like Stick of Truth have been specifically named as scheduled for completion.)
            http://kotaku.com/5973090/creditors-...ant-it-stopped

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            • mestevo
              Gooney Goo Goo
              • Apr 2010
              • 19556

              #66
              If that is what they are relying on when they said those titles wouldn't be affected then they've got another thing coming.

              Sent from my Galaxy Nexus using Tapatalk 2

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              • WTF
                MVP
                • Aug 2002
                • 20274

                #67
                Re: THQ possibly done

                Yeah, that's not gonna fly THQ. Prepare to start splitting up the Assets. I'd be highly surprised if a bankruptcy judge allows this nonsense to go on.
                Twitter - WTF_OS
                #DropMeAFollow

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                • mestevo
                  Gooney Goo Goo
                  • Apr 2010
                  • 19556

                  #68
                  Re: THQ possibly done

                  Judge blew up their plans today, individual asset liquidation for auction now scheduled for 1/22.

                  Would get real interesting if Sony/MS participated and made some or all of these properties exclusive to their consoles going forward.

                  Comment

                  • DJ
                    Hall Of Fame
                    • Apr 2003
                    • 17756

                    #69
                    Re: THQ possibly done

                    Originally posted by mestevo
                    Judge blew up their plans today, individual asset liquidation for auction now scheduled for 1/22.

                    Would get real interesting if Sony/MS participated and made some or all of these properties exclusive to their consoles going forward.
                    Can't say I'm surprised by that ruling. Not sure what THQ was thinking with that one. It will be interesting to see where the different games wind up going. My guess is that EA will make a run at WWE.
                    Currently Playing:
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                    • goh
                      Banned
                      • Aug 2003
                      • 20755

                      #70
                      Re: THQ possibly done

                      GameStop pulled Metro: Last Light from its Impulse digital download service, telling GameSpot that the uncertain fate of its publisher, THQ, is the reason.

                      "Due to THQ's current financial situation and uncertainty of delivery, in order to protect our consumers we removed the ability to pre-purchase that specific game," GameStop's top spokesman told GameSpot.

                      THQ is currently in Chapter 11 bankruptcy protection and selling off its assets, including projects in development and the studios making them. Bids are due Tuesday; the auction will be conducted on Wednesday.
                      http://kotaku.com/5977018/gamestop-p...certain-future

                      Comment

                      • Burns11
                        Greatness Has Arrived
                        • Mar 2007
                        • 7406

                        #71
                        Re: THQ possibly done

                        Auction happens on the 22nd.

                        The only specific potential bidders I've seen listed are EA, WB, and Double Fine, with I think somewhere it being said there were 13 parties who sought asset and auction details.

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                        • CaptainZombie
                          Brains
                          • Jul 2003
                          • 37851

                          #72
                          Re: THQ possibly done

                          Originally posted by Burns11
                          Auction happens on the 22nd.

                          The only specific potential bidders I've seen listed are EA, WB, and Double Fine, with I think somewhere it being said there were 13 parties who sought asset and auction details.
                          IT will be interesting if MSFT, Nintendo, or Sony are one of those 13 parties.
                          HDMovie Room

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                          • bigbob
                            MVP
                            • Sep 2007
                            • 10471

                            #73
                            Re: THQ possibly done

                            I would absolutely love if Sony bought it.

                            I'd be worried if Warner Brothers bought it. Who would they give it to? If anyone, I'd like to see them give it to Rocksteady Studios because in their first three games, they made two of arguably the greatest games of all-time.. but there's a big difference between making a WWE game and a Batman game.

                            I've never played EA Sports MMA, but people have said it's really good.

                            Just, with EA's track record with the current gen, I can't trust them.
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                            • Burns11
                              Greatness Has Arrived
                              • Mar 2007
                              • 7406

                              #74
                              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.

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                              • goh
                                Banned
                                • Aug 2003
                                • 20755

                                #75
                                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.

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