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[Deadly Cyclone]

it was only a matter of time, still though was hopping they'd last longer

Uh, from what I can tell they aren't dead. This is actually a good thing right?

 

[Nirolak]

Somebody explain this for stupid people please?

They're getting bought by Clearlake unless someone makes a higher bid.

 

[Oreoleo]

I think 4A aren't owned by THQ, am I right? If so, I guess they just need to find another publisher for Metro, just like Obsidian with South Park.

I believe that's true. But it's not quite as safe a proposition as it is for a pub to pick up South Park which already has outside funding.

 

[Raxus]

Read the press release...they aren`t finished yet.

'yet' being the operative word.

 

[Xater]

I hope Relic comes out of this is okay.

Yes, I need my awesome 40k games.

 

[Interrobang]

Holy shit, this is really terrible news. Darksiders 3... dammit.

 

[polyh3dron]

Surprised it took this long to happen, honestly.

 

[LumpOfCole]

What if we pooled all of our money to Giant Bomb / CBSi to buy Volition so the next Saints Row could be published by Giant Bomb?

Is that a pipe dream or can we make this happen?

 

[Geoff9920]

So basically Clearwater Clearlake is buying the THQ assets, all employee's will keep their jobs, and business will continue uninterrupted (for now?). Could be a lot worse all things considering.

 

[Visualante2]

I think Ubisoft said they're shopping for IPs, but not studios... maybe Activision could buy Volition and Saints Row turning it into an annual franchise next gen.

So basically Clearwater is buying the THQ assets, all employee's will keep their jobs, and business will continue uninterupted (for now?). Could be a lot worse all things considering.

Not likely. I think these companies come in to try and make it profitable. They'll cut even more than Rubin did I bet.

 

[LTWheels]

Sega should buy Relic and the 40k licence. Makes sense as they already have the warhammer fantasy licence.

 

[lenovox1]

So basically Clearwater is buying the THQ assets, all employee's will keep their jobs, and business will continue uninterupted. Could be a lot worse all things considering.

Yep.

 

[Derrick01]

They're getting bought by Clearlake unless someone makes a higher bid.

The whole company? Didn't they have like $100 million in debt alone? They're insane to do a full buy. Unless bankruptcy clears their debt, I know some dirtbag CEOs do that to their company to avoid paying.

 

[Munin]

They're getting bought by Clearlake unless someone makes a higher bid.

OK but what does that mean? Will they just rip out the company's innards and sell off all assets or will they allow the company to continue operating for the time being?

 

[Ahasverus]

Please could someone translate those legal terms in plain english? So they are not gone and they are planning a complete sell of the company to survive but they won't have any studios/IP's because they are selling them all?

 

[twinturbo2]

Yes, I need my awesome 40k games.

Sega just got the Warhammer license and gave it to Creative Assembly. Maybe they can do the same to Wahammer 40K?

 

[Mpl90]

So, wait...it's not over? At least yet?

 

[Jeels]

So basically Clearwater is buying the THQ assets, all employee's will keep their jobs, and business will continue uninterupted (for now?). Could be a lot worse all things considering.

So this seems to be all on the business/financials end of things without any abrupt/apparent consequence for current projects?

I mean the press release doesn't scream panic to me, all development studios are remaining open it says.

 

[Nirolak]

The whole company? Didn't they have like $100 million in debt alone? They're insane to do a full buy. Unless bankruptcy clears their debt, I know some dirtbag CEOs do that to their company to avoid paying.

OK but what does that mean? Will they just rip out the company's innards and sell off all assets or will they allow the company to continue operating for the time being?

Yeah it seems someone bought the entire company and tends to run it as is.

 

[MisterC20XX]

Thanks for the good times, THQ.

 

[marrec]

It sounds to me like they'll survive long enough to publish all games currently in development.

But who is Clearwater?

Capital group, they're buying them up so that they can sell off individual pieces and make a profit.

Unless they truly intend to keep business as normal.

 

[zomgbbqftw]

So as it looks right now, THQ have been bought out of bankruptcy by a private equity firm (Clearlake) who will use their strong balance sheet to ensure that their IPs remain valuable. Chances are that they will begin to sell THQ in bits as that is how they will extract the highest amount of money for them.

 

[maabus1999]

Are they looking to restructure or is this a liquidation?

Chapter 11 is a restructuring. However, many game studios may be sold off to help the restructuring pay for itself.

Most likely THQ as a name and company will survive, but it may not have all of the game studios it had before.

 

[Broder Salsa]

THQ will be missed. Now for some shit publishers to buy their IPs and force shitty changes into them.

 

[Pooya]

$60m is so low, I'm sure someone else steps into the bidding wars. that's like budget of a AAA game...

 

[Data West]

The tissue people?

 

[Hari Seldon]

Maybe Blizzard can buy Relic so that they can use Relic's 2008 RTS tech to upgrade their 2002 RTS tech.

 

[iNvid02]

they're gonna chop it up and send pieces to the highest bidder

edit: yeah this

So as it looks right now, THQ have been bought out of bankruptcy by a private equity firm (Clearlake) who will use their strong balance sheet to ensure that their IPs remain valuable. Chances are that they will begin to sell THQ in bits as that is how they will extract the highest amount of money for them.

 

[Ahasverus]

Capital group, they're buying them up so that they can sell off individual pieces and make a profit.

Unless they truly intend to keep business as normal.

So they are buying them with the intent of selling it by pieces for a profit and then make it die a honourable death.

I'm ok with this.

 

[axisofweevils]

Looks like that Humble Bundle really was the last gasp.

 

[Tagg9]

Capital group, they're buying them up so that they can sell off individual pieces and make a profit.

Unless they truly intend to keep business as normal.

Yeesh, I was hoping this wasn't the case. They'll likely sell whatever they think has potential to make a big profit and dump the rest.

 

[sixghost]

Looks like that Humble Bundle really was the last gasp.

Dead cat bounce

 

[Nirolak]

The whole company? Didn't they have like $100 million in debt alone? They're insane to do a full buy. Unless bankruptcy clears their debt, I know some dirtbag CEOs do that to their company to avoid paying.

As an additional note, THQ went bankrupt, so unsecured debt would be gone.

 

[Busta SMurk]

So as it looks right now, THQ have been bought out of bankruptcy by a private equity firm (Clearlake) who will use their strong balance sheet to ensure that their IPs remain valuable. Chances are that they will begin to sell THQ in bits as that is how they will extract the highest amount of money for them.

Let the (bidding) games begin!

This is going to be kinda cool to watch.

 

[TheBioLover]

SCE should buy Saints Row.

SUCKER PUNCH PRESENTS: SAINTS ROW 4.

 

[Technosteve]

lets see who buys RELIC and Makes HOMEWORLD

 

[Ahasverus]

As an additional note, THQ went bankrupt, so unsecured debt would be gone.

Free money..?

 

[metalslimer]

So as it looks right now, THQ have been bought out of bankruptcy by a private equity firm (Clearlake) who will use their strong balance sheet to ensure that their IPs remain valuable. Chances are that they will begin to sell THQ in bits as that is how they will extract the highest amount of money for them.

So exactly what we expected? THQ IPs will be sold and the company will not exist as a videogame company anymore.

 

[Amagon]

 

[NullPointer]

 

[dragonflys545]

No more WWE 14' from them? Praise the lord, please bring back talents from the N64 wrestling games for the next iteration.

 

[Shao Kahn Brewing a Stew]

*sheds a tear*

 

[TurtleSnatcher]

Why are people thinking this is the end of THQ?

Chapter 11 bankruptcy is restructuring of their debt... Yes they will sell stuff but they aren't dead (yet)

Hell... American Airlines is in Chapter 11... :\

 

[Neuromancer]

Good Luck, THQ. You did good. Thank you for all the fun times and making my childhood brighter and better every day. Here's hoping the future and current IPs get a great publisher who respects the developers' original vision.

Well said.

 

[Uncle AJ]

Merry fucking Christmas.

 

[TouchMyBox]

Square Enix and/or Bethesda...

You know what to do.

 

[Backfoggen]

RIP THQ. You had some genuinely great video games.

 

[lenovox1]

So exactly what we expected? THQ IPs will be sold and the company will not exist as a videogame company anymore.

We don't know. For right now, Clearlake (or whatever) intends to run THQ as a whole.

 

[ViewtifulJC]

Alright NeoGAF

This is it

We all pitch in and we buy Volition, and make the Saints Row 4 we, no, the WORLD deserves.

 

[Deadly Cyclone]

Maybe the title should be updated? A lot of people seem to be thinking THQ is completely dead...