THQ Bosses Talk About Closure

THQ Bosses Talk About Closure

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Brian Farrell and Jason Rubin are cautiously optimistic about the future of THQ's assets.

The THQ auction saw many of its assets bought, either as entire studios or as individual properties; the grand total value of the auction is reported to be $100 million. In the wake of this sale, THQ's Brian Farrell and Jason Rubin have been talking about the auction, and the future of THQ's former assets.

"While we had hoped that the restructuring process would allow the company to remain intact," said former CEO Farrell, "I am heartened that the majority of our studios and games will continue under new ownership." He went on to say that he regretted that some of his former employees are now looking for work, notably the Vigil Games team. He'll be meeting with affected staff over the next few days, to discuss what happens next.

Rubin, the President who said in the most recent earnings call that he had been brought in too late to have much of an impact on development, was also pleased to see that many of the company's talented people still had jobs. He echoed Farrell's cautious optimism for the future of THQ's former assets.

"When we first announced the sale process," Rubin concluded, "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."

The $100 million sales figure comes courtesy of Distressed Debt, which has been following the THQ bankruptcy. Relic Entertainment, bought by Sega, was the top seller at $26 million. Some properties - including Vigil Games and the Darksiders franchise - remain unsold.

Source: GamesIndustry

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I really wish the best for Vigil and the others who have lost their jobs. Vigil were talented people and I really hope they find new positions to bring that talent to use.

Does anyone with more background in legalistics than me know what happens to unsold franchises? I would naively assume that, with no still-existing company that holds the license to a franchise, anyone could just pick it up, seeing as there's no one left to prosecute them. But I've read that several classic games of the past are unlikely to get a sequel, since the rights to the franchise belong to a bankrupt company. So... does the now bankrupt-company keep the license, but loses the ability the sell the license or make a game of it, dooming the franchise? Who would be sueing you if you made Darksiders 3? Does the franchise go to the company's remaining debitors? And can they sell the license (which I see no reason for them not to do, the license will probably be worth less the longer they hang on to it without new games comming out)?

I'm asking cuz I'm trying to decide if I should back the SaveHomeworld kickstarter. It seems a bit risky to give a new, completely unproven company money just to buy the Homeworld license, without knowing if they can deliver a good new game. But if not buying the license now means Homeworld goes of to limbo permanently, I might put down a bit of cash (I can't really afford a big bag of cash right now)

 

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