THQ possibly done

[Goffs]

Re: THQ possibly done

Rumor!

Sega bids high for Relic Entertainment!

OOH MAN! I really hope this comes true! TOTAL WAR 40K!! I know Creative Assembly is already working on a Total War Warhammer fantasy version but man I would love to see them create a 40K version!

[Burns11]

Re: THQ possibly done

Shouldn't have long to wait to find out who things went to, hearing scheduled for noon EST.

[Burns11]

Re: THQ possibly done

Auction is still going, resumes at 3 PM.

[CaptainZombie]

Re: THQ possibly done

Auction is still going, resumes at 3 PM.

I'm surprised the auctions didn't have a hard stop.

[Burns11]

Re: THQ possibly done

Maybe the bids have stopped they just haven't gone through all the assets? Information is sketchy at best, since it's all behind closed doors.

[CaptainZombie]

Re: THQ possibly done

Maybe the bids have stopped they just haven't gone through all the assets? Information is sketchy at best, since it's all behind closed doors.

Yeah, true. It seems like an editor from Polygon is reporting on all this via a live blog feed, so somehow he has access or being fed the information.

I'd be surprised to see if Sony of MSFT buys up any of these properties, which would suck in a way since some darn good titles could go exclusive.

[mestevo]

Re: THQ possibly done

Some chatter that Ubisoft snagged the South Park.

http://www.computerandvideogames.com/387805/thq-auction-rumours-ubisoft-nabs-south-park-sega-snaps-up-relic-koch-vies-for-volition/

[CaptainZombie]

Re: THQ possibly done

This isn't 100% confirmed yet........



SEGA picked up Relic

[mestevo]

Layoffs being reported now.

Sent from my Galaxy Nexus using Tapatalk 2

[CaptainZombie]

Re: THQ possibly done

It is also rumored that EA has the WWE license, though that was negotiated separately.

Auction is over......concerned a little bit with EA possibly getting WWE.

To All THQ Employees:

We now have the answers we've been seeking through our financial restructuring and Chapter 11 case. While much will be written, here are the facts of the bids and auction that occurred:

Yesterday morning, we received a competing bid for the operating business,
along with Clearlake's offer, and numerous offers for separate assets. During an auction process that lasted over 22 hours, the final conclusion was that the separate-asset bids would net more than a single buyer for the majority of the company.

Shortly, we will, present the results to the U.S. Bankruptcy Court, which must
concur with our assessment.

The proposed sales of multiple assets is as follows :

Sega agreed to purchase Relic
Koch Media agreed to purchase Volition and Metro
Crytek agreed to purchase Homefront
Take 2 agreed purchase Evolve and
Ubisoft agreed to purchase Montreal [Nirolak's Note: Patrice's game and perhaps Volition Montreal] and South Park
We expect these sales to close this week.
[Nirolak's Note: Vigil didn't make it.]


Some assets, including our publishing businesses and Vigil, along with some other intellectual properties are not included in the sale agreements. They will remain part of the Chapter 11 case. We will make every effort to find appropriate buyers, if possible.

What this means for employees

We expect that most employees of the entities included in the sale will be offered employment by the new owners. However, we cannot say what these owners may intend, and there will likely be some positions that will not be needed under the new ownership. You should receive notice this week or early next week if the new owners intend to extend employment to you. Please note that the terms of your new employment, including pay and benefits, may be different from the current terms of your employment with THQ.

If you are an employee of an entity that is not included in the sale, we regret that your position will end. A small number of our headquarters staff will continue to be employed by THQ beyond January 25 to assist with the transition. THQ has sufficient resources to pay these employees for work going forward, and we will be contacting these employees immediately to ensure their continued employment during this transition period. We are requesting the ability to offer certain severance pay to minimize disruption for employees of non-included entities as they determine the next steps in their careers.

We know you will have many questions about this news. We'll be meeting tomorrow when we return to talk through this announcement and to answer any questions you have. You will receive a benefits fact sheet and FAQs with answers to some questions that may be on your mind. Please review these materials closely.

A personal note

The work that you all have done as part of the THQ family is imaginative, creative, artistic and highly valued by our loyal gamers. We are proud of what we have accomplished despite today's outcome.

It has been our privilege to work alongside the entire THQ team. While the company will cease to exist, we are heartened that the majority of our studios and games will continue under new ownership. We were hoping that the entire company would remain intact, but we expect to hear good news from each of the separate entities that will be operating as part of new organizations.

For those THQ employees who are part of entities that are not included in the sale, we are confident that the talent you have displayed as part of THQ will be recognized as you take the next steps in your career.

Thank you all for your dedication and for sharing your talent with the THQ team. We
wish you the best of luck and hope you will keep in touch.

Sincerely,

Brian Farrell
Chief Executive Officer

Jason Rubin
President

UPDATE:

This was just posted on f4wonline.com (Figure 4 Wrestling/Wrestling Observer website)

Well, nothing official. Officially, nothing was said publicly, for a variety of reasons regarding the WWE video game license, although it will be very soon.

There is a deal in place but all the paperwork hasn't been completed. It is not with EA.

...

The WWE license was not part of the auction but is a separate entity and all information requiring its sale has been kept within very few in the company.

[Sandman42]

Re: THQ possibly done

Sucks that Vigil is gone. Baffles me that someone paid for the Homefront IP though.

Pretty funny that Patrice is back at Ubi. Maybe he can get Assassin's Creed back on the right track.

[mestevo]

Re: THQ possibly done

Via @DDInvesting

THQ auction results: 26M for Relic (Sega), 2.5M for Montreal (Ubisoft), 11M for Evolve (Take-Two), 22.3M for Volition (Koch Media), 500k Homeland (Crytek), 5.8M for Metro (Koch Media), South Park for 3.2M (Ubisoft)

Total proceeds of auction close to $100M Estate retaining cash on hand, accounts receivable, legacy library, to name a few

No bids for Vigil.

[mestevo]

Re: THQ possibly done

IGN and others reporting WWE license going to Take-"THQ won't be around in 6 months"-Two as well.

[Goffs]

Re: THQ possibly done

eh...take two got WWE? I'd rather see EA get that license....

[bigbob]

Re: THQ possibly done

At this point, I'm glad Take-Two got it over EA.

Take-Two is one of my favorite gaming companies and they've published some of the greatest games ever, IMO.