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[sflufan]

No. Their offer is derisory.

Yes, they can still win this affair if they increase their bid offer.

 

[Nirolak]

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?

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.

 

[dionysus]

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.

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.

Edit. EA's purchase prices have been insane though, what must have their internal estimates of Bioware games have been going forward? A 7 million selling game every 2 years, lol. They really bet the farm on TOR.

 

[zomgbbqftw]

Yes, they can still win this affair if they increase their bid 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.

 

[ugoo18]

Why not? They did an awesome job with the combat in Darksiders 2.

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.

 

[Nirolak]

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.

Right, I consider Volition so key to Saints Row that I kind of lump them together in my mind for sale purposes.

Sorry for being unclear.

 

[grimshawish]

Yes, they can still win this affair if they increase their bid offer.

Nah. They wanted THQ cheap to sell on.
Instead they'd have to pay what other companies would have been willing to pay.

 

[Malvingt2]

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.

interesting, thanks..

 

[Pachimari]

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.

What is Clearlake's offer? And what happens if the bids don't succeed the offer?

 

[Totobeni]

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?

problem is with their business strategy of late, ZeniMax focus on few IPs and smaller studios and publishing few quality titles per year.

 

[sflufan]

What is Clearlake's offer? And what happens if the bids don't succeed the offer?

The Clearlake offer is $60 million. And if the other bids to exceed it, then they win.

 

[Glass Rebel]

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

 

[Nirolak]

What is Clearlake's offer? And what happens if the bids don't succeed the offer?

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.

 

[KungFucius]

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 an auction. The highest early bod will be the starting bid for the live auction part.

 

[dionysus]

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.

 

[zomgbbqftw]

Are THQ's existing obligations completely expunged? Because if Clearlake assumes the debt that would be a really high offer.

No, it does not assume the current debts of THQ according to the original filing.

 

[AHA-Lambda]

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.

Sorry I've missed this part, what was Rubin/Clearlake trying to do exactly?

 

[HoosTrax]

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

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?

 

[Pachimari]

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.

So if Clearlake wins, the bidders won't get anything and Clearlake will take ownership of it all while THQ goes out of business?

 

[Kickass667]

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.

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.

 

[i-Lo]

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 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?

 

[Nirolak]

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.

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?

Yes. As long as there is some combination that offers more than Clearlake did, the auction is on.

 

[sflufan]

So if Clearlake wins, the bidders won't get anything and Clearlake will take ownership of it all while THQ goes out of business?

THQ does not go out of business; THQ becomes a privately-held entity with Clearlake as the owner.

 

[i-Lo]

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.

Ah, in that case, I am confident that there will be an auction. Do you expect the same?

 

[ugoo18]

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.

I didn't like how easily overpowered i became in DS2, DS1 had it as well but not as badly as DS2.

 

[Nirolak]

Ah, in that case, I am confident that there will be an auction. Do you expect the same?

Yeah, I don't think that publishers would have testified in court and argued to lower the Clearlake-failure-to-win payout if they had no intention of besting the starting bid.

 

[sangreal]

the clearlake bid was a joke. I don't believe that they really thought they could scam the creditors that easily

 

[patchday]

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.

Awesome! Thanks I was unclear how it worked exactly. Looking forward to finding out what happens to THQ's properties

 

[Nirolak]

the clearlake bid was a joke. I don't believe that they really thought they could scam the creditors that easily

I think that's why they tried to force it through so quickly.

 

[Shard]

Yea, I would expect the empire to get divided today.

 

[AHA-Lambda]

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 :-/

 

[sflufan]

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!"

 

[zomgbbqftw]

"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!"

Are you Jason Rubin by any chance?

 

[grimshawish]

"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!"

This is the definition of a Scam.

 

[Sadist]

So apparantly Nintendo is taking over a franchise

 

[zomgbbqftw]

So apparantly Nintendo is taking over a franchise

uDraw becomes Draw-U?

 

[Jarlaxle]

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.

It's already due out in March (I think the 12th). Since it takes a little bit of time to press the copies after it's gone gold I can't imagine there's even much time to try and "speed" up the process.

 

[Pachimari]

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?

 

[IceDoesntHelp]

So apparantly Nintendo is taking over a franchise

Darksiders or Saints Row (what a laugh I would get out of that)

 

[Takamura-San]

Gaf should do a kickstarter to buy Saints Row IP.

Incorporate it with Dudebro and make millions.

 

[dionysus]

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?

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.

 

[Sadist]

Nevermind, somebody tweeted an old message, my mistake

 

[Donos]

uDraw becomes Draw-U?

10/10

 

[CorrisD]

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?

I think you've put this bit the wrong way, but yea.

 

[Haunted]

We know Warner Bothers and EA are offically players in this affiar, we do not know the identities of the other three bidders.

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 >_>

 

[Labadal]

How much left until it begins?

 

[Mario007]

uDraw becomes Draw-U?

Hey zomg, you seem to be in the know on Sony stuff, any chance WWS is considering picking up any part of THQ? I would imagine they might be interested in stuff like SR. Although on the other hand, they don't tend to buy studios they haven't worked with.

 

[Pachimari]

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.

Okay, so let's see:

If the bidders bid more than Clearlake, then their bids will be the starting point of the auctions?

EDIT:
Oh, CorrisD stealth edited. =p

 

[Shard]

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 >_>

That came out of some previous court proceedings, though it looks like there are even more since Doublefine made their intentions clear to get back XBLA/PSN Distro rights for thier games.

 

[Sentenza]

So apparantly Nintendo is taking over a franchise

Awful if true.
Here's me hoping it's something I don't care about.