THQ Files For Bankruptcy

December 20, 2012 - 5:51am

THQ has decided to end its ongoing financial troubles by declaring bankruptcy and handing itself over to a new owner for no more than $60 million.

THQ today announced that it entered into an Asset Purchase Agreement with a “stalking horse bidder,” affiliates of Clearlake Capital Group, L.P., to acquire substantially all of the assets of THQ’s operating business, including THQ’s four owned studios and games in development.

To facilitate the sale, THQ and its domestic business units have filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Court for the District of Delaware. The company’s foreign operations, including Canada, are not included in the filings.

THQ will continue operating its business without interruption during the sale period, subject to Court approval of THQ’s first-day motions.

“The sale and filing are necessary next steps to complete THQ’s transformation and position the company for the future, as we remain confident in our existing pipeline of games, the strength of our studios and THQ’s deep bench of talent,” said Brian Farrell, Chairman and CEO of THQ.

Comments

red faction

The only THQ game that I played is red faction 1. Played it on PC but I never finished it, stopped at a point where the miner meets the doctor behind the evil disease or something like that. I remember when THQ said that PC and PS2 versions would be identical and how geomod was revolutionary. That was way before physics on GPU or dx9c...

THQ had it coming, their

THQ had it coming, their games is not enjoyable. darksider graphic is really bad, it doesnt look like how its advertising on the game cover itself. it feels like playing legacy of kain soul reaver, no LOK is good, i mean as in the graphic , it looks like LOK which is release ages ago compared to Darksider that was released recently.

Dont blame Piracy

THQ hasnt published a decent game in YEARS. Blame pirates, blame the muscle companies pushing out there AAA shit over top CCC grade companies. blame the idiotic anti-piracy non-sense (putting money into securing your digital property is stupid, it will always be hacked.) Hey THQ, how about you come up with an origional idea. stop trying to do what other businesses are doing.. IT ISNT WORKING. when your main source of income goes belly up because another franchise wtf-pwned your cash cow game. you struggle to make the SAME game better... instead of just STARTING OVER! go bankrupt.. noone will remember you. because you never did anything INNOVATIVE.

The reason they make same

The reason they make same game just a bit better is because somewhere someone did a study where they said that sequels to games sell better then new titles. Sequel or not as log as the game is good but too much of the same thing blows except blows....eh...

His main point was that all

His main point was that all THQ's games are bad, and specifically because they're "rip offs" of other games. While they do make games that are similar to others (An open world game where you drive cars, a post-apocalyptic story driven FPS, a military RTS, a console-style action/adventure/RPG), they're not doing so any more than any other company - saying that they're all unoriginal and rip offs is doing them a great disservice - not to mention, we could call Dishonored a Rogue Warrior rip off if we wanted to by the exact metrics by which these games are compared to each other (they're first person, emphasise stealth and melee through a comparatively small selection of missions - but Rogue Warrior came first so it must be better, right?). Metro and Saints Row in particular both bring in their own brilliantly original twists to the genre games (ie. STALKER and GTA IV respectively, both very good games in their own right but also very different to the former titles) while also being quite successful. Though, if everyone views games this way, I'll just call up Arkane now and tell them to to bother with a sequel, Rebellion got there first.

Add new comment

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.