No. Their offer is derisory.
Yes, they can still win this affair if they increase their bid offer.
No. Their offer is derisory.
so how the bid work in here? like baseball? you put x amount to whatever series before the action and if you have the largest bid you get such?
It's certainly possible, but given that EA spent $900 million on BioWare Pandemic and $400+ million on PlayFish, and Warner spent like $160 million on Turbine, I have to imagine these companies are willing to go much higher than Clearlake for something like Saints Row.
Yes, they can still win this affair if they increase their bid offer.
Why not? They did an awesome job with the combat in Darksiders 2.
Right, I consider Volition so key to Saints Row that I kind of lump them together in my mind for sale purposes.Depends on the Volition studio cost structure or if they just want the IP, the cost of starting a new studio or displacing a game at an existing studio.
Given that successful open world games are still difficult to make, I'd think most bidders would want to preserve Volition.
Yes, they can still win this affair if they increase their bid offer.
interesting, thanks..A simplified version is:
1.) Everyone places a starting bid for the properties. If these add up to more than Clearlake's offer, they become the initial starting bid for when the auction takes place.
2.) If the auction happens (I have to imagine it will), people can then bid on these properties in increments of like $500,000 until they win, much like a traditional auction.
3.) If they want, during the auction process, Clearlake can join as a bidder on individual assets.
4.) A court then approves the results of the auction (or parts of them, if they say only approve THQ's owned IPs and say the contracts like South Park revert to their owners) the next day.
A simplified version is:
1.) Everyone places a starting bid for the properties. If these add up to more than Clearlake's offer, they become the initial starting bid for when the auction takes place.
2.) If the auction happens (I have to imagine it will), people can then bid on these properties in increments of like $500,000 until they win, much like a traditional auction.
3.) If they want, during the auction process, Clearlake can join as a bidder on individual assets.
4.) A court then approves the results of the auction (or parts of them, if they say only approve THQ's owned IPs and say the contracts like South Park revert to their owners) the next day.
Would any happen to know if ZeniMax/Bethesda is participating in the auction? Also, is list of buyers still kept in the dark is it publicly available now?
What is Clearlake's offer? And what happens if the bids don't succeed the offer?
What is Clearlake's offer? And what happens if the bids don't succeed the offer?
so how the bid work in here? like baseball? you put x amount to whatever series before the action and if you have the largest bid you get such?
It's been a bit since I looked at the bidding process sheet, but:
Clearlake is offering $60 million. The individual bids need to add up to more than $60.5 million or I think Clearlake instantly wins. That might have been lowered to $50 million given that they took away the $10 million note to creditors. To note, this is an incredibly low sum so it won't be hard.
Are THQ's existing obligations completely expunged? Because if Clearlake assumes the debt that would be a really high offer.
They won't offer enough. Saints Row alone is worth more than their current offer on the whole of the company. Clearlake and Rubin were in it for a quick sale and turnaround, nothing they have done since this ruling indicates they will even be in the running.
I dunno, thinking about it some more -- suppose they actually win Relic with an exorbitant bid. Then everyone who matters at Relic quits and starts a new company to create a new RTS IP. Whatever game the newly staffed EA Relic makes bombs. End result, the demise of EA is hastened?Even though this will basically be Saints Row: The Auction I'm getting really nervous at the prospect of "losing" Relic to EA or Ubisoft. Square-Enix, please step in
The Clearlake offer is $60 million. And if the other bids to exceed it, then they win.
It's been a bit since I looked at the bidding process sheet, but:
Clearlake is offering $60 million. The individual bids need to add up to more than $60.5 million or I think Clearlake instantly wins. That might have been lowered to $50 million given that they took away the $10 million note to creditors. To note, this is an incredibly low sum so it won't be hard.
Imo not really, combat became extremely boring in DS1 and DS2 (Granted Zelda isn't known for it's combat but DS combat doesn't feel like a suitable match for Zelda).
EDIT: Not saying i would not want Nintendo to pick them up (Would actually like that) but not to work on Zelda, if Nintendo is wary of letting Retro a studio that so far hasn't put a foot out of place (Granted that was with Nintendo watching them with hawk like observation and whipping out the quality stick to stamp out any strange deviations that popped up every now and then) try their hand at Zelda i doubt they would let Vigil near Zelda.
A simplified version is:
1.) Everyone places a starting bid for the properties. If these add up to more than Clearlake's offer, they become the initial starting bid for when the auction takes place.
2.) If the auction happens (I have to imagine it will), people can then bid on these properties in increments of like $500,000 until they win, much like a traditional auction.
3.) If they want, during the auction process, Clearlake can join as a bidder on individual assets.
4.) A court then approves the results of the auction (or parts of them, if they say only approve THQ's owned IPs and say the contracts like South Park revert to their owners) the next day.
So if Clearlake wins, the bidders won't get anything and Clearlake will take ownership of it all while THQ goes out of business?
So if any "one" company's bid exceeds Clearlake's bid for "all" IPs together, the auction is legitimized?
Or, given that it is a piecemeal deal, the highest bid for each IP, from different companies, is taken into account and then totalled. And if this total exceeds ~USD $50 million, the auction procedure begins?
So if Clearlake wins, the bidders won't get anything and Clearlake will take ownership of it all while THQ goes out of business?
Yeah, though I should note that we're dealing with companies that sometimes spend billions on acquisitions of what are largely single studios versus a $60 million Clearlake starting point.
Yes. As long as there is some combination that offers more than Clearlake did, the auction is on.
the problem with the combat in Darksiders 2 was that you had to buy the moveset with in game money, as soon as you buy the move set and get the arm, the game becomes a ton of fun.
Ah, in that case, I am confident that there will be an auction. Do you expect the same?
A simplified version is:
1.) Everyone places a starting bid for the properties. If these add up to more than Clearlake's offer, they become the initial starting bid for when the auction takes place.
2.) If the auction happens (I have to imagine it will), people can then bid on these properties in increments of like $500,000 until they win, much like a traditional auction.
3.) If they want, during the auction process, Clearlake can join as a bidder on individual assets.
4.) A court then approves the results of the auction (or parts of them, if they say only approve THQ's owned IPs and say the contracts like South Park revert to their owners) the next day.
the clearlake bid was a joke. I don't believe that they really thought they could scam the creditors that easily
the clearlake bid was a joke. I don't believe that they really thought they could scam the creditors that easily
Wait, what? How were Clearlake attempting to scam the creditors with their THQ bid? I've missed this part of the saga :-/
"Scam" is a bit harsh.
Essentially, Clearlake and THQ were trying to push through a "sweetheart" bid as rapidly as possible (a 30 day window) in order to prevent other interested parties from performing due diligence to make bids of their own.
However, the creditors and the bankruptcy court saw through this rather transperant strategy and said, "Not so fast, Jack!"
"Scam" is a bit harsh.
Essentially, Clearlake and THQ were trying to push through a "sweetheart" bid as rapidly as possible (a 30 day window) in order to prevent other interested parties from performing due diligence to make bids of their own.
However, the creditors and the bankruptcy court saw through this rather transperant strategy and said, "Not so fast, Jack!"
So apparantly Nintendo is taking over a franchise
That's what I'm worried about though. EA could come in and screw up the rest of the development/polish and force the game out, then everyone will be like "oh Obsidian shipped out a broken product again!". Not to mention the PC version would go from Steamworks to Origin probably. Who knows what kind of damage they or Ubisoft could do.
So apparantly Nintendo is taking over a franchise
So let me understand this clearly:
- Clearlake has offered $60 millioner for everything but it might as well be $50 million now.
- If the bidders bid more than the above amount together, then Clearlake will be the owner.
- In case of Clearlake becoming the owner, THQ will stay in business but be a privately-held company under Clearlake but still publish game in the name of THQ.
- If the bidders bid less than $50/60 million, then the IP's and developers will be sold to the highest bidders, including Clearlake if they so wish to participate in the auction.
Is this correct?
uDraw becomes Draw-U?
So let me understand this clearly:
- Clearlake has offered $60 millioner for everything but it might as well be $50 million now.
- If the bidders bid more than the above amount together, then Clearlake will be the owner.
- In case of Clearlake becoming the owner, THQ will stay in business but be a privately-held company under Clearlake but still publish game in the name of THQ.
- If the bidders bid less than $50/60 million, then the IP's and developers will be sold to the highest bidders, including Clearlake if they so wish to participate in the auction.
Is this correct?
We don't even know the identity from the other bidders aside from Clearlake, WB and EA?We know Warner Bothers and EA are offically players in this affiar, we do not know the identities of the other three bidders.
uDraw becomes Draw-U?
You have it backwards, which I assume is just a typo. If the bidders bid less, Clearlake is owner. If bidders bid more, bidders win what they bid on after the auction occurs.
I think you've put this bit the wrong way, but yea.
We don't even know the identity from the other bidders aside from Clearlake, WB and EA?
Ubisoft, Activision... who could be the third?
edit: where's the three other bidders number even from? You'd think more companies were interested in getting a piece of those THQ IPs >_>
Awful if true.So apparantly Nintendo is taking over a franchise