I'm pretty sure all the games you listed will see the light of day. CoH is a already in a polished alpha state, saints row sells a ton, and South Park is a big IP. Metro is the dark horse but it has a pretty big following so I would not be worried about that one ether.
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THQ files Chapter 11 Bankruptcy, Clearlake enters w/ purchase agreement [OP Update 2]
- Thread starter Mr.Awesome
- Start date
metalslimer
Member
Because once they sell those IPs they pretty much are dead to people here.
They might try to shore up development on current IPs close to release so as to increase the bidding price. But it's likely that a lot of people are going to get laid off in the process of Clearlake's selling.
EviLore should buy Relic
Well, there are two possibilities:
1.) Clearlake wants to run a ho-hum to bad (financially) video game publisher for some reason.
2.) Clearlake wants to buy THQ to make sure their studios don't fold (thus causing their IPs to lose values since you can't buy the studio with the IP), and then will sell them off at a profit. This profit will happen because they don't have to pay THQ's unsecured debt since THQ went bankrupt.
Well... so this is quite the contrary of what we're saying.. THQ is pretty much more ALIVE than before.
Still in honorable death row, though.
EternalGamer
Banned
We need a kickstarter to buy Volition and the rights to Saints Row.
They could be the first community crowd source owned company.
They could be the first community crowd source owned company.
Busta SMurk
Member
Hmmmm. The article on yahoo there, states, that "The company’s foreign operations, including Canada, are not included in the filings."
WTF does this mean, any studio's outside U.S aren't included in this trade? If that's the case, what happens to foreign studios? And, speaking of foreign studios, what ones are they talking about?
WTF does this mean, any studio's outside U.S aren't included in this trade? If that's the case, what happens to foreign studios? And, speaking of foreign studios, what ones are they talking about?
NekoToshiro
Member
Metro bro . . . .
metalslimer
Member
Yep, so basically what we expected then. Even without the debt I don't see why anyone would want the entirety of THQ if not to sell those IPs.
Right now? It's the highest bid for THQ with the bidding starting at $60 million. Then somebody might decide to split it up in the future.
zomgbbqftw
Banned
Yes. I don't see Clearlake running THQ as an ongoing concern. They will do just enough to keep the company afloat long enough so that the regulators approve the purchase and the company exits bankruptcy protection basically debt free.
Then they will either load the new subsidiary up with new debt and flog it off to the highest bidder, thereby recouping their money and having preferential creditor status at the new company or they will break it all up and sell it.
I don't see anyone coming in to buy THQ as an ongoing concern, it just is not a profitable company, and with any new debt that the private equity company rolls into it a purchase would not be seen as an attractive prospect. Selling the assets off one by one does make sense though, and using a strong balance sheet and sugar daddy money to keep key staff at the company will ensure they extract maximum value for THQ's assets.
DerZuhälter
Member
South Park is safe since it's funded by Viacom, was something I read here on GAF.
How about other projects of studios that have publishing deals or are partly owned by THQ?
How about other projects of studios that have publishing deals or are partly owned by THQ?
Or Warner.
But they have a history of making money, and that's all you need to care about,
Auto_aim1
MeisaMcCaffrey
The stock has been frozen. You can't do that now.
uh, they have no money for production i would assume, ala the bankruptcy.
metalslimer
Member
Which means that for anyone hoping for things to stay as they are now this is bad news.
I assume they games they have that are close to release will still come out while the other IPs are slowly sold off.
Unless I read it wrong wouldn't Clearlake be providing the money to finish games? My guess is they keep them afloat till next quarter to let all the the close to finished games release then sell off the studios at their peak value.
Trading in their shares has been halted so good luck with that
Clearlake intends to keep the company afloat long enough to get a profit. If they shut everything down now it would tank the asking price. Expect lay offs soon in order to make the company run 'As lean as possible.'
So, people at THQ are keeping their jobs, right? But for how long...?
I'm sure EA has spent more than that on an IP. D:
I'm sure EA has spent more than that on an IP. D:
Why, am I going to be making money too? Usually that means nothing but bad things for gamers. Whether it means selling precious IPs to horrible studios like EA or Activision or keeping them all and turning THQ into basically another EA, making nothing but safe and boring mass market games.
Busta SMurk
Member
This is what I was curious about a half a page up. I'm looking into it now.
Capital groups like Clearlake intend to make the company run as lean as possible in order to reduce the amount of money they have to spend to keep it afloat before they sell it off.
So...
I added this to the OP:
What does this mean?
Well, there are two primary options.
1.) Clearlake is buying THQ with the intention of running them as a normal publisher. THQ was not a profitable entity, so this might be incredibly unlikely. It's not entirely impossible however.
2.) Clearlake is buying THQ with the intention of selling off their assets at a later date. By funding THQ until they get through bankruptcy court, THQ's debt is removed, allowing the assets (or the company as a whole) to be sold off without having their studios shut down and have key staff leave. This means that their IPs and studios are more valuable than they would be otherwise, and that Clearlake got to buy them at a relatively cheap price since the $100+ million in debt that got added on to the cost is no longer there, thus meaning any asset sales would likely net a profit.
What does this mean?
Well, there are two primary options.
1.) Clearlake is buying THQ with the intention of running them as a normal publisher. THQ was not a profitable entity, so this might be incredibly unlikely. It's not entirely impossible however.
2.) Clearlake is buying THQ with the intention of selling off their assets at a later date. By funding THQ until they get through bankruptcy court, THQ's debt is removed, allowing the assets (or the company as a whole) to be sold off without having their studios shut down and have key staff leave. This means that their IPs and studios are more valuable than they would be otherwise, and that Clearlake got to buy them at a relatively cheap price since the $100+ million in debt that got added on to the cost is no longer there, thus meaning any asset sales would likely net a profit.
Shao Kahn Brewing a Stew
Banned
THQ holds WWE license till 2017. This is what is going to be the biggest seller (unless the contract has an obligation/clause that the license will be rendered useless if THQ files for bankruptcy).
I'd be somewhat surprised if it didn't revert to the WWE upon bankruptcy.
AuthenticM
Member
Mr. Luchador
Member
THQ are my total guilty pleasure publishers.
Saints Row
WWE Games
Company of Heroes
While they're never perfect games (often buggy and somewhat lazy copy & pastes of the WWE games), they're enjoyable - what more could you ask for from a game?
Hopefully something gets sorted somewhere.
Saints Row
WWE Games
Company of Heroes
While they're never perfect games (often buggy and somewhat lazy copy & pastes of the WWE games), they're enjoyable - what more could you ask for from a game?
Hopefully something gets sorted somewhere.
Oh bugger. :-(
TimeEffect
Member
Shit, there goes any chance of seeing a PC patch for Saint's Row 3.
If you were to sell off everything and rebuild around one studio, I think Relic would be the one to do it with.