Gallery

UPDATE: THQ SALE

0

If you have been reading my posts i have been writing about the THQ sale of the company and its assets and since i haven’t been able to post everyday i have to do a recap post.

 

On the 24th of January the U.S. bankruptcy court approved the motion for the auction of THQ’s assets to an assortment of buyers, which was made public the previous day.

8410371195_f5dee34a83

The act approved the sale of multiple assets including  Turtle Rock Studios’ game, Evolve (to Take-Two for $10.9 million), Relic Studios (to Sega for $26.6 million), Homefront 2 (to Crytek for $0.5 million), Volition and Metro: Last Light (to Koch Media for $22.3 million and $5.9 million respectively), as well as THQ Montreal and South Park: The Stick of Truth (to Ubisoft for $2.5 million and $3.3 million respectively).

In these sales THQ will receive about $72 Million rounding the company’s assets to about  $100 Million (this would include the assets not in the sale such as Vigil and its Darksiders franchise, that haven’t found a home).

Sales are expected to close tomorrow. And it doesn’t look like its a good day to bounce a check.

Included in the press release was a short note from both Brian Farrell, Chairman and CEO of THQ, and Jason Rubin, President, concerning the finality of the publisher’s closure:

Farrell: “While we had hoped that the restructuring process would allow the company to remain intact, I am heartened that the majority of our studios and games will continue under new ownership. It has been my pleasure to work alongside this great group of people, and I am proud of the imaginative and artistic games that our team has created. Although we will no longer be able to work together with a unified mission, I am confident that the talent we have assembled will continue to make an impression on the video game industry. For those whose positions are not likely to continue, I sincerely regret this outcome and we will be meeting with you over the next few days to discuss the transition.”

Rubin: “I was brought in eight months ago to help turn this ship around, and while I’m disappointed that we could not effect a sale for the entire operating business, I am pleased that the new buyers will be providing jobs to many of our very talented personnel. When we first announced the sale process, I said I would be happy if the company’s games and people had a bright future, even if it meant I did not have a job at the end of it. And I still feel that way.”

I know me and my brother both love the recent Saints Row the third and hope to see the title go further, and we wish the owners of the titles great success with the future.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s