Has Obsidian commented? I saw that THQ had over 50 million in accounts payable on the balance sheet, I'd hate to see Obsidian not get payed for work already done.
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THQ in default with Wells Fargo over $50 million credit facility
Has Obsidian commented? I saw that THQ had over 50 million in accounts payable on the balance sheet, I'd hate to see Obsidian not get payed for work already done.
I imagine they're earning a royalty payment up front and then a profit sharing royalty rate, perhaps even before the development budget has been paid off given their stature.
Not to my knowledge, but here are some of the last things we heard about the studio:
Source: http://www.joystiq.com/2012/03/15/obsidian-missed-fallout-new-vegas-metacritic-bonus-by-one-point/Joystiq said:
So then they went on the road pitching project presumably. Here is their last comment on that.
Source: http://www.vg247.com/2012/09/21/project_eternity_kickstarter_obsidian_entertainment_interview/
I'm not... overflowing with optimism.
Diddy Kong
Banned
Do you know if Microsoft, Sony, and/or Nintendo are interested in any of THQ's IP? Thanks for sharing your information btw
Tallshortman
Member
I wonder if EA would try to pick up the 40k license if they picked up Relic. Hopefully one of the last bastions of RTS development (at least in terms of innovation) will be picked up. I enjoyed SR The Third but I really only care about Relic.
zomgbbqftw
Banned
Do you know if Microsoft, Sony, and/or Nintendo are interested in any of THQ's IP? Thanks for sharing your information btw
None of the platform holders are interested in any of THQ's IPs as far as I know, but it's early days yet. I think Darksiders would be a good fit for either Sony or Microsoft.
Me either, I am assuming the worst. Typical reimbursement contracts require payments between 30-90 days after invoicing. Struggling companies normally delay payments till the last day allowed in the contract. (That is why a sharp rise in accounts payable is a red flag.) I mean, God forbid, we could be looking at 90 days of work that THQs third parties will have to eat.
Edit. I know nothing about how it works in the game business, but that is how it works in some other businesses I am familiar with.
I kind of imagine they would rebrand it to an owned IP like a sci-fi C&C or maybe repurpose Homeworld.
Generally the games industry uses milestone payments for independent studios, so they could just keep saying the developer isn't hitting the milestone yet to delay payments.
D
Deleted member 102362
Unconfirmed Member
I can't believe just how fast this is escalating.
Messofanego
Banned
What's happening with Jason Rubin?
Was it an Obama situation where he had to deal with the previous establishment's debts?
Was it an Obama situation where he had to deal with the previous establishment's debts?
I'm leaning towards SE being the one interested party in Darksiders. Obviously not Acti, the IP isn't worth that much. I think Ubi's plate is probably too full. 2K, maybe but even then I'm having trouble seeing the "fit" there. EA's going to have their sights set higher, so not them. None of the other Japanese publishers, I don't see why they'd want it or what they've even do with it.
I would have actually guessed Warner first but that's been shot down.
It'll be some fire sale acquisition, regardless.
I would have actually guessed Warner first but that's been shot down.
It'll be some fire sale acquisition, regardless.
Jawmuncher
Member
So if THQ has no buyers do you think Warner Bros will swoop in for the low bid again like they did with Midway?
(I read the OP but it so doesn't make sense to me so i'm just throwing this out there)
(I read the OP but it so doesn't make sense to me so i'm just throwing this out there)
IIRC when Midway were also circling the drain they valued the Mortal Kombat IP and the NetherRealm Studio team at something ludicrous like $500m.
Of course when the whole thing imploded Warners swooped in and bought the entire Midway operation (studios, IPs, the lot) out of bankruptcy for something like $30m.
As I've said all along I expect WB to do the same with THQ should a similar situation arise. Time Warner don't pay 'sticker price' for anything and this is exactly the sort of transaction they would be looking out for.
zomgbbqftw
Banned
Possibly, but I think THQ's IPs will bring in more money piecemeal than as a single entity.
I'd be a lot more worried about Obsidian if it wasn't for the success of PE. At the worst I can see the studio downsizing dramatically, but I can't see them totally shutting down until PE is out the door.
Frankly, I think Obsidian needs to realize that they need to downsize and that they're much more suited making modest PC-centric RPGs than AAA console titles.
Rubin was put in an impossible situation. What games have THQ put out since he took his position? Darksiders 2?
I think the Bombcast this past week had it right: Darksiders 2 was supposed to be a Hail Mary that would give them enough money to get Metro, CoH and South Park out, then Saint's Row 4 was supposed to be the title to save the company. That didn't work out.
Tallshortman
Member
I would honestly be fine with Relic taking over the Tiberian/Sci-fi C&C titles if they were allowed to work on CoH and Dawn of War if they picked up that license.
Well, I'm just imagining in my mind that EA probably doesn't want to license Dawn of War, but they might be willing to take what was Dawn of War 3 and rebrand it as a new/existing IP that they own.
Right, I'm more worried about the people who aren't among the 22 staffers chosen to work on Project Eternity.
I really think they would have been better off leaving the Dominatrix Saints Row expansion pack alone and releasing it this holiday season. Delaying it to turn it into a 'full' sequel made them lean way too heavily on Darksiders 2, which was never a sure thing.
Last Hearth
Member
Is there any danger of Obsidian using PE money to finish up SP? Are they required to provided accounting details on how the money is being spent?
You're right, i forgot about the 30 day window.
Stock is now $1.18.
Time to buy, or wait until white knight comes in?
lunchwithyuzo
Banned
Lots if people seem to be leaning this way, but I'm not sure why? It's totally redundant for SE given they already have a more successful gothic Zelda clone in Legacy of Kain.
My guess is EA's looking at a full sweep.
They're a private company, so they aren't, but THQ is required to give them money if they want a finished product.
Not unless or until THQ gets into bankruptcy. The only people who would be interested before that would be PE.
Why would you buy stock in them? This morning you thought the bank was going to seize them tomorrow.
OldAsUrSock
Banned
What is wrong with Activision? EA is who you should be worried about.
I don't put my faith in IP's where the last, middling entry was almost a decade ago.
Which isn't to say you're wrong. However, I think there's a fair argument to be made against EA buying the IP because it's vaguely similar to Dante's Inferno, which is an IP EA already owns that is arguably as successful as Darksiders (when looking at a game to game comparison, not IP to IP).
Tallshortman
Member
Literally everything.
OldAsUrSock
Banned
Yes, and also like Obama he added more debt in a shorter time frame.
Lets leave politics out of this.
Combichristoffersen
Combovers don't work when there is no hair
You'd be better off spending those 1k on hookers and blow.
Or giving them to me so I could go off on an eBay rampage and buy a ton of old, long out of print goth CDs.
lunchwithyuzo
Banned
Sure, it's just looking at the IP the only suitable dev within SE is really Crystal Dynamics, and if they're going to make a game like this then reviving LOK (Soul Reaver specifically) just makes more sense financially. The franchise has more historical cache, established developer association and they already own it. A middling entry a decade ago still trumps a middling entry this year when it's a "free" IP imo.
As far as EA, Dante's Inferno covers similar thematic ground, but the game design is still pretty different. I don't think EA really has a readymade inhouse studio well suited to making Darksiders either though. I dunno, maybe Ubisoft wants it? Take 2?
If THQ goes under before they can finish South Park and there are bills to be paid, there might not be any other solution for Obsidian than using PE's money. Obsidian seems to stand on rather shaky legs, that's always been the reason why I feared PE might become the first big Kickstarter accident.
That would be beyond stupid if they aren't publisher of SP.
Brera? Is that you?
Do that and you're going to take a bath. Here's a secret: They will not find a buyer. Any company will get their stuff cheaper when it's sold piecemeal than buying the entire company. I can almost guarantee that you will lose all money you put into them at this point.
I have no doubt Obsidian would leave South Park to die rather than take money from PE. They know that PE is their future. They seem to be refocusing on PC-centric RPGs. Why piss their fans off in order to release a game in which they'll likely see little to no cuts of the profits? They certainly didn't get a cut of New Vegas. At best, they'll get a bonus payment.
They're mercenaries on South Park. Project Eternity is their baby, and their own IP they own 100 percent of. It's not rocket science.
Cerebral Assassin
Member
I agree and I might be wrong, but from what I gathered The Stick of Truth sounds like it is Matt and Trey's baby and not just another licensed IP THQ has. So I assume that worse comes to worse they will front the money to keep it afloat until they land a new publisher. That is of course assuming Obsidian has unpaid bills from that project. So I don't really think there will be a need for Obsidian to even touch the PE money.
Not saying it relates to this situation at all, but neither Bayonetta 2 nor Ninja Gaiden 3 fit Ninteno's image, but they're publishing both.
That's what I'm thinking, and they probably will find a publisher more easily simply because of how big South Park is and that this is shaping up to be the one truly worthwhile title the show's spawned.
I think Relic would work well at EA. For all the hate they get, they produce very strong PC versions of their game and are PC focused since they have an incentive with Origin. It would be a good fit rather than some other publisher that would try to put Company of Heroes on the consoles
You know what, we might even get a Homeworld 3 since THQ has just been sitting on that IP
You know what, we might even get a Homeworld 3 since THQ has just been sitting on that IP
Is anyone interested in Homefront?
Tallshortman
Member
zomgbbqftw
Banned
I'll have to find out on Thursday, I have tomorrow and Wednesday off for Diwali and the Hindu New Year.