Goodnight Sweet THQ

[Huff]

http://kotaku.com/5969846/thq-files-for-chapter-11-bankruptcy

wonder what will happen to the games

[Joe Molotov]

They'll probably be able to stay afloat until their current slate of games get released. All of which will probably bomb.

[maxy]

Maybe Nintendo buys Volition.
They are desperate for Third party games,right?

[Huff]

Homefront 2 is a winner fo sho

[Mr. Gundam]

Just stay afloat long enough for me to buy The Stick of Truth.

[Purple Filth]

Investment firm ClearLake are apparently gonna aquire all the assets.

http://finance.yahoo.com/news/thq-inc-secures-asset-purchase-185300188.html


So if Clearlake wills it they might just do what Joe is thinking (allow "THQ" money to finish up the games and release them and then attempt to sell everything for as much as they can)

[Himu]

FUCK WHAT ABOUT SAINTS ROW

[Steve Contra]

There's not going to be another Saint's Row

[Himu]

 :'( :'( :'( :'( :'( :'( :'(

[AdmiralViscen]

Well, it's not chapter 7

[ToxicAdam]

I would say something shitty about THQ, but they helped Titan Quest and Drakensang make it to the shelves. Good night.

[Cerveza mas fina]

Never bought a THQ game i think.

[MrAngryFace]

UDRAW SEQUEL CANCELLED :*((((((((((((

[Mr. Gundam]

Never bought a THQ game i think.

I don't think I have, either.

[MrAngryFace]

THQ published awesome WARHAMMER stuff why don't you guys 40K ease up a little

[Steve Contra]

Just how awful saleswise was UDraw on the next-gen consoles? Oscar?

[ToxicAdam]

Is there even a market for Stick of Truth anymore? Seems like a game that should have came out at the end of last generation.

[Trent Dole]

Aging forumites like us who remember when it was the thing culturally in the late 90s early 00 mainly sounds like its main market to me so not really.

[Human Snorenado]

There's not going to be another Saint's Row

nooooooooooooooooooooooooooooooooooo

[Purple Filth]

hope for the Saints Row people.

[Cerveza mas fina]

Never bought a THQ game i think.

I don't think I have, either.

Well i did get Company of Heroes for 2 dollars on Steam, but it never worked.

I guess their games were always too B tier for me.

[Rahxephon91]

I actually want to see what Homefront 2 will be like.

[MrAngryFace]

As far as I know UDraw is considered one of the biggest bungles in gaming history

[Purple Filth]

Stolen from GAF

Predictions:
(Image removed from quote.)

Development budget
(Image removed from quote.)

Source: http://www.kccllc.net/documents/8826100/8826100121219000000000002.pdf

seems they will have some time (That assassin Creed guy game 1666 is fiscial 2016) if clearlake allows

[Steve Contra]

(Image removed from quote.)

hope for the Saints Row people.

That's less encouraging than not saying anything.

[demi]

I cant believe they're doing a sequel to Homefront. Oy vey.

[Purple Filth]

(Image removed from quote.)

hope for the Saints Row people.

That's less encouraging than not saying anything.

thats all you get for now (even if its PR garbage)

[CajoleJuice]

Company of Heroes is legitimately sweet.

[bork]

FUCK WHAT ABOUT SAINTS ROW

 

[Eel O'Brian]

i bet that "saint's row expansion HOLDUP now it's a full game" thing still comes out at some point

as long as we are wishing for shit, maybe someone will snatch up the property along with red faction and do what we all want - combine the two into SAINT'S ROW 3000AD, knocking down buildings with a double dong

[Joe Molotov]

I cant believe they're doing a sequel to Homefront. Oy vey.

I know, right? Did their focus groups show that people are demanding more games with Hooters shootouts and levels that take place in Tiger Direct warehouses? Maybe in the sequel we get to fight Chinese in a Frys or Outback Steakhouse.

[tiesto]

Was never a fan of their games, but that sucks for those who did enjoy their franchises.

[Bloodwake]

Damn, and they finally managed to make another decent wrestling game.

[Himu]

Damn, and they finally managed to make another decent wrestling game.

[G The Resurrected]

Homeworld 3, lol

We must rise up and purchase this IP from their ashes. Let the Kickstarter begin!

[Purple Filth]

http://www.thq.com/us/go/article/view/homepage_article/261277/thq_community_message_from_jason_rubin?

But what does “Chapter 11” mean?  What will happen to the games you are expecting?  The series you love?  And what about the people and teams that make them? 

The most important thing to understand is that Chapter 11 does not mean the end of the THQ story or the end of the titles you love.  Quite the opposite is true, actually.

Chapter 11 is a safety net for U.S. companies. American Airlines is currently in Chapter 11 restructuring, yet I flew back and forth on that airline when I visited Volition two weeks ago.  Donald Trump and his companies have been in Chapter 11 four times.  You can add to that list household names such as Macy’s, Eddie Bauer, the Chicago Cubs, Chrysler, Delta Airlines, General Motors, the Pittsburgh Penguins, Marvel Studios, and MGM, among many others.

MGM filed Chapter 11 two years ago, and this year it released “Skyfall” and “The Hobbit,” two of the biggest titles of the year. That’s what I mean when I say new start!

Our Chapter 11 process allows for other bidders to make competing offers for THQ.  So while we are extremely excited about the Clearlake opportunity, we won’t be able to say that the deal is done for a month or so. 

Rest assured that the goal throughout the sale process has been to preserve our teams and our products.  So no matter what the outcome in 30 days, as long as we have accomplished this goal, I will be satisfied. 

Whatever happens, the teams and products look likely to end up together and in good hands.  That means you can still pre-order Metro: Last Light, Company of Heroes 2, and South Park: The Stick of Truth. Our teams are still working on those titles as you read this, and all other rumored titles, like the fourth Saints Row, the Homefront sequel, and a lot more are also still in the works.

Finally, you might be asking, why would THQ file for Chapter 11 right before the holiday season?  Admittedly, the timing is unfortunate. But as we announced a few weeks ago, we have a January 15 deadline approaching for our bank funding. So if you work backwards to allow the necessary time to complete a sale, you end up at this week. Since all of THQ’s worldwide employees are off for a week and a half of paid vacation starting Friday for the holidays and will return to work on January 2nd, it hardly matters anyway. 

So THQ made headlines today – and I am sure there will be tons of click-grabbing headlines over the next month or so. But what matters to us is not what is happening to THQ right now, but what the company and its teams will make of ourselves after we complete the sale.

In short, the teams will be unburdened by the past and able to focus on what they should be focusing on -- Making great games. 

[pilonv1]

Wonder when the bidding will start for the WWE licence then

[AdmiralViscen]

Clearlake will rape this company

[Sho Nuff]

WOW what a great explanation of Chapter 11, I like how he uses all those exclamation points to make me feel like everything is all right!

[Himu]

What pub would best for WWE license? EA? I'm thinking EA. 2k would be cool too.

[benjipwns]

Wonder when the bidding will start for the WWE licence then

THQ has it through 2017, I wonder if it's the last thing they hold onto. No idea about the sales on those if they can just spit them out with minor changes/dev costs and make a profit like sports games.

[chronovore]

THQ has improved a lot in the last 10 years; they're making more quality games than 10 years ago, for sure. Sad that this is going on.

I really hope Saints Row gets a sequel, or at least that Volition keeps making crazy open-world games.

[HyperZoneWasAwesome]

I just want to give credit to THQ for exactly how well they've been commanding their sinking ship.

yeah, they slashed jobs and projects (Rainbow/THQ San Diego, Kaos, their kiddy DS games), but the most promising games they cut (Devil's Third and inSANE) are still in development under some other unknown sugar daddy, and the studios they have left, and have left untouched are excellent.  Damn near everybody at Virgil, Relic, and Volition still has jobs, and we should all be pretty happy about that.

I hope it can stay that way.  With something as simple as a massive capital infusion, THQ could be a player again, or at the very least, a steady performer.

[maxy]

cp from gaf

http://www.distressed-debt-investing.com/2013/01/thqi-reconvening-on-monday-more-coming.html

After an very, very long hearing, Judge Mary Walrath, a personally favorite of mine, did not approved the DIP motion or bidding procedures motion in the THQ case. She instructed parties to discuss and work out their issues over the weekend and set a new hearing on Monday. I will be writing a more thorough post this weekend on the day's events.

Originally Posted by Quentyn: 
There a few more details on his Twitter account. If I understand things correctly, Warner might be interested in buying THQ?

https://twitter.com/DDInvesting
Yeah, "due diligence" is the process of evaluating all of THQ's IPs/projects in development and deciding if you want to make a bid.

There may be other parties interested as well that didn't testify, since they may have been interested in a piecemeal bid.

Originally Posted by Twitter:
Centerview: 5 strategic buyers in active due diligence in THQ.

TQHI court heating up. Centerview's banker on record of saying buyers are interested in individual titles. Clearlake has said not allowed.
Five companies are interested in evaluating THQ's assets for purchase, but Clearlake doesn't want to let them do it piecemeal. The judge doesn't seem too favorable to the sentiment.

have fun

[chronovore]

Bu... Bu... But TWO MORE HORSEMEN!

spoiler (click to show/hide)

I only care about Saints Row, and WWE for nostalgic reasons.

[close]

[Beezy]

I'll be satisfied if just Volition + Saints Row makes it out alive.

[maxy]

https://twitter.com/DDInvesting/status/288376488573673472

Parties have come to agreement: THQI auction now on Jan 22nd. The auction will allow for piecemeal ("title by title") sales of THQ assets

Game over 

[treythemovie]

And EA is suppose to be the most interested buyer for several properties/studios 

[Mr. Gundam]

And EA is suppose to be the most interested buyer for several properties/studios 

I figure they'll snag Saints Row and South Park.

[Himu]

GET AKI ON WWE GAMES PLEASE.

Saints Row under EA would be good. Hopefully. Probably. EA has no big sandbox game series and 4 million a game ain't bad. Combined with dat EA marketing, it could be a winner.

[bork]

EA will do something to fuck up Saint's Row.

Ah well, it was fun while it lasted.   

[chronovore]

And EA is suppose to be the most interested buyer for several properties/studios 

I figure they'll snag Saints Row and South Park.

Yeah, I think so too. They can probably pick up South Park for a song, with the development nearly-finished. They may even be able to wring a sequel out of the team with an established toolchain and pipeline.

Moreover, Godfather was supposed to be EA's foray into open-world games, but I'm guessing there won't be a Godfather 3. Volition has shipped four of the most impressive OWGs out there; EA would be silly not to grab them.

GET AKI ON WWE GAMES PLEASE.

Saints Row under EA would be good. Hopefully. Probably. EA has no big sandbox game series and 4 million a game ain't bad. Combined with dat EA marketing, it could be a winner.

It won't happen; EA and AKI burned their bridges with the Def Jam Vendetta games. EA took a big steaming dump on AKI when they made the sequel. AKI probably doesn't even want to deal with each other any longer.

[pilonv1]

EA will do something to fuck up Saint's Row.

Ah well, it was fun while it lasted.   

I'm hoping Warner Bros pick it up.

[Don Flamenco]

nothing better happen to that damn South Park game. 

[Great Rumbler]

nothing better happen to that damn South Park game. 

It's basically finished already, someone will pick it up for release.

[Eel O'Brian]

"You guys need to tone it down with that next Saint's Route, or whatever it's called. Make it a bit more family-friendly. Less with the dildos and such."

"Yeah, we saved your asses from the unemployment line, but this Red Fraction crap you been peddling ain't gonna cut it. We're thinking third-person action game with Battlefield branding. You can do near-future or something, just don't get too crazy with it. None of that swinging hammers on Mars horseshit."

[Stoney Mason]

EA always had a hard on for trying to get an open word franchise so it makes sense they would go for saints row.

[Eel O'Brian]

"Homefront sucked. We're putting you on the next Medal of Honor. This modern warfare stuff is dying off, people are getting sick of it, so we're thinking Korean War setting. See what we did there, huh?"

[Eel O'Brian]

"Company of Booooooooring. We're gonna take one last swing at Command and Conquer, so hop to it. Make a nice storefront for the menu, we want individual unit microtransactions."

[Don Flamenco]

"South Park is finished?  Great News!   Buuuuuuuut instead of releasing it on disc, lets chop it up and sell it episodically.  WALKING DEAD SOLD MANY.  WALKING DEAD EPISODIC.  THEREFORE, SOUTH PARK EPISODIC MEAN SELL MANY."