Bankruptcy Auction Ends THQ

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Bankruptcy Auction Ends THQ

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Ubisoft, Take-Two, Koch Media and others have all claimed pieces of THQ.

Hopes of keeping THQ intact and functioning have come to an end, as the bankruptcy auction that began yesterday has resulted in the company being broken up and sold off in pieces. According to Distressed Debt Investing, which has been following the THQ bankruptcy process, the company's studios and IPs were sold as follows:

  • Relic - purchased by Sega for $26 million
  • Volition - purchased by Koch Media for $22.3 million
  • Evolve (IP) - purchased by Take-Two for $11 million
  • Metro (IP) - purchased by Koch Media for $5.8 million
  • South Park (IP) - purchased by Ubisoft for $3.2 million
  • THQ Montreal - purchased by Ubisoft for $2.5 million
  • Homefront (IP) - purchased by Crytek for $500,000

In a letter to THQ employees, CEO Brian Farrell and President Jason Rubin said they expected that most employees of sold properties will be offered jobs by their new owners but warned that not everyone will be picked up and that the terms of employment for those that are may well be different. Employees of entities that are not part of the sale will be laid off. Among those assets are Darksiders studio Vigil Games and "some other intellectual properties."

"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," the letter states. "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."

Source: Kotaku, Distressed Debt Investing (Twitter)

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It is at this moment that I realized that I don't know any of the games that THQ owns, bar Metro 2033.

Still, respects must be paid.

So what does this mean for the South Park game?

Damn... This is harsh.
Poor THQ...
I hope most of the employees get picked up by the new companies and that the new owners of IPs don't just hide them away.

Andy Chalk:

  • Homeland (IP) - purchased by Crytek for $500,000
  • I think you mean Homefront. As much as we all love Damian Lewis :P.

    I believe a Gamer Salute is appropriate.

    gg.

    So now Sega owns both the Warhammer 40K and Warhammer Fantasy Battle rights...

    Make it your first order of business to hire back a bunch of Relic's old staff that were let go after Retribution.

    Andy Chalk:
    Employees of entities that are not part of the sale will be laid off. Among those assets are Darksiders studio Vigil Games and "some other intellectual properties."

    Great... guess I'll just hang onto the two Darksiders games I own like a Faberge Egg. Won't be seeing those anymore...

    To the company that published STALKER, Metro, Saints Row, Darksiders, Dawn of War and Space Marine: Goodbye. It's been fun.

    Soviet Heavy:
    So now Sega owns both the Warhammer 40K and Warhammer Fantasy Battle rights...

    Make it your first order of business to hire back a bunch of Relic's old staff that were let go after Retribution.

    I was just thinking that it sounds like it worked out perfectly for relic, and a big sigh of relief. Voalition though, I can't say I recall the name kosh media, so dunno what to think about that

    Is Sega owning Relic a good thing or a bad thing? I only know a few games published be Sega but they seemed OK, Relic happens to be one of my favorite devs. Hopefully Sega will be able to invest in Relic and we will continue to see great games coming from them

    I wonder who will buy up the other IPs?

    Soviet Heavy:
    So now Sega owns both the Warhammer 40K and Warhammer Fantasy Battle rights...

    Make it your first order of business to hire back a bunch of Relic's old staff that were let go after Retribution.

    Not to mention Company of Heroes... this could go one of two ways actually, it's either going to go really well ore really very badly indeed...

    I just wonder who is going to Publish the WWE games?

    Soviet Heavy:
    So now Sega owns both the Warhammer 40K and Warhammer Fantasy Battle rights...

    Make it your first order of business to hire back a bunch of Relic's old staff that were let go after Retribution.

    I told this to a friend of mine, and I'll say it again here. Sega successfully shit all over any IP they had that I liked. I have little faith that Sega can even BUY a decent IP and then do anything good with it.

    J Tyran:
    Is Sega owning Relic a good thing or a bad thing? I only know a few games published be Sega but they seemed OK, Relic happens to be one of my favorite devs. Hopefully Sega will be able to invest in Relic and we will continue to see great games coming from them

    They published Vanquish, a completely INSANE third person shooter, so I'll give them the benefit of the doubt, even if I'm not qualified because I only ever played Space Marine in terms of Relic's games.

    J Tyran:
    Is Sega owning Relic a good thing or a bad thing? I only know a few games published be Sega but they seemed OK, Relic happens to be one of my favorite devs. Hopefully Sega will be able to invest in Relic and we will continue to see great games coming from them

    Sega are hit and miss. They take risks, it has bit them in the ass in the past and they're put out some real shit, but it's one of the better places it could go if you ask me, better to be lapped up by Sega and actually used for something than absorbed into EA.

    Well fuck......there goes that third Darksiders game I was hoping for.

    I was about to ask who the heck Koch Media was, but a little Google search shows that they're the same people who run Deep Silver. I find it interesting that EA didn't have their hands all over volition.

    Ubisoft might do some dumb DRM stuff with South Park, but I'm actually glad to see them get the rights. If anyone had to scoop them up, I think the game will come out and be mostly untouched in all this. Here's hoping, or else it's a wasted pre-order.

    Quiotu:

    Soviet Heavy:
    So now Sega owns both the Warhammer 40K and Warhammer Fantasy Battle rights...

    Make it your first order of business to hire back a bunch of Relic's old staff that were let go after Retribution.

    I told this to a friend of mine, and I'll say it again here. Sega successfully shit all over any IP they had that I liked. I have little faith that Sega can even BUY a decent IP and then do anything good with it.

    Sega owns Creative Assembly, the Total War developers. Who have only really made two duds, with Empire and Napoleon.

    But... but... does this mean no more Darksiders?

    http://www.youtube.com/watch?v=U6RWiVRwoE8

    Vigil is out of business? Damn, harsh, the Darksiders games were alright.

    A Homefront sequel by Crytek. So EA can have another Call of Duty clone. Neat-o.

    Ubisoft now has South Park? So I guess this means a shit PC port, then.

    And Koch bought the Saints Row guys? Heh, can't wait for the shirtless Johnny Gat Statue. Wait, I would... actually buy that. Never mind.

    I'm curious as to what SEGA has in store for Relic. Good or ill?

    The official report is a bit ambiguous on whether Dawn of War, the IP, was included >.>. I don't see why they couldn't acquire it later though, if not already bought.

    Soviet Heavy:

    Quiotu:

    Soviet Heavy:
    So now Sega owns both the Warhammer 40K and Warhammer Fantasy Battle rights...

    Make it your first order of business to hire back a bunch of Relic's old staff that were let go after Retribution.

    I told this to a friend of mine, and I'll say it again here. Sega successfully shit all over any IP they had that I liked. I have little faith that Sega can even BUY a decent IP and then do anything good with it.

    Sega owns Creative Assembly, the Total War developers. Who have only really made two duds, with Empire and Napoleon.

    Really? Personally I love empire, one of their best if you ask me

    I assume this means Stick of Truth will now be saddled with Uplay.

    God DAMMIT

    RicoADF:

    Soviet Heavy:

    Quiotu:

    I told this to a friend of mine, and I'll say it again here. Sega successfully shit all over any IP they had that I liked. I have little faith that Sega can even BUY a decent IP and then do anything good with it.

    Sega owns Creative Assembly, the Total War developers. Who have only really made two duds, with Empire and Napoleon.

    Really? Personally I love empire, one of their best if you ask me

    I found that Empire was a major step down from the godly Kingdoms expansion, which I hold up as the most complete total war game ever. Empire isn't a bad game, but I felt it was lacking compared to the other titles.

    SkarKrow:

    J Tyran:
    Is Sega owning Relic a good thing or a bad thing? I only know a few games published be Sega but they seemed OK, Relic happens to be one of my favorite devs. Hopefully Sega will be able to invest in Relic and we will continue to see great games coming from them

    Sega are hit and miss. They take risks, it has bit them in the ass in the past and they're put out some real shit, but it's one of the better places it could go if you ask me, better to be lapped up by Sega and actually used for something than absorbed into EA.

    I know Sega publish RTS games, so I can see why they would grab Relic. Definitely far better than going to EA for sure. Games Workshop should have bought them I think, sure they have never published video games before but nearly every game Relic has made has been PC only. Publishing via Steam wouldn't need a supply chain and then Relic could have kept pumping out games for them, hell GW might have even made a Company of Heroes TT game.

    Soviet Heavy:

    Quiotu:

    Soviet Heavy:
    So now Sega owns both the Warhammer 40K and Warhammer Fantasy Battle rights...

    Make it your first order of business to hire back a bunch of Relic's old staff that were let go after Retribution.

    I told this to a friend of mine, and I'll say it again here. Sega successfully shit all over any IP they had that I liked. I have little faith that Sega can even BUY a decent IP and then do anything good with it.

    Sega owns Creative Assembly, the Total War developers. Who have only really made two duds, with Empire and Napoleon.

    I suppose I can qualify the statement and say that they ruined any IP they created that I liked. Never got into Total War, as I'm to busy to get into any RTS or TBS games anymore, but I have a few friends who gush over the series. Relic might be Sega's second acquired studio that makes them decent games if they play their cards right.

    Sorry but in recent memory I know Sega as being responsible for ruining the Valkyria Chronicles IP and backstabbing Alpha Protocol before it was even released. Maybe if Sega of America can start helping themselves out and be allowed to make IPs less Japan-centric, I might start being optimistic again.

    As long as Relic and Volition remain whole, nothing of value was lost

    South Park (IP) - purchased by Ubisoft for $3.2 million

    ... except for PC gamers.

    this makes me sad :/ no more Darksiders, but least Relic got a good home, unlike the South Park IP license, not sure if i should laugh or not, but then I dislike South Park *shrugs*

    Ok,ok hold on a sec...

    *breathing heavily*

    WHAT IS HAPPENING WITH THE NEXT SAINTS ROW?!

    AND ALSO COMPANY OF HEROES?!

    I swear, if I hear it's cancelled or 'postponed indefinitely' I will find them and fight them on the side of the street!

    Damn stupid THQ couldn't hold on a bit longer. These two game alone would have got them out of debt.

    Wait what does this mean for Saints Row....? Hmmm Volition was bought by Koch Media...they run Deep Silver....who published...oh fuck you world.

    Soviet Heavy:

    RicoADF:

    Soviet Heavy:

    Sega owns Creative Assembly, the Total War developers. Who have only really made two duds, with Empire and Napoleon.

    Really? Personally I love empire, one of their best if you ask me

    I found that Empire was a major step down from the godly Kingdoms expansion, which I hold up as the most complete total war game ever. Empire isn't a bad game, but I felt it was lacking compared to the other titles.

    Fair enough, personal preferences and all. Still it shows that Sega makes good games, they don't pull an EA or worse, Activision.

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