THQ going under?

[hippie_hunter]

THQ's stock is tanking, they're defaulting in their credit lines, Darksiders II is underperforming in sales, they are posting the biggest losses of all time, and they have delayed their upcoming major games such as South Park: The Stick of Truth, Metro: Last Night, and Company of Heroes 2.

 

[Jick]

Damn. South Park only in 2014.
I was really looking forward to playing it early next year.

 

[Soapy]

Hopefully another publisher picks up these games and studios if when THQ shuts down. I'm looking forward to Metro and Company of Heroes.

At least they gave it a shot though.

 

[zenith16]

Ubisoft shows interest in THQ assets

(18 hours ago)
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Ubisoft boss Yves Guillemot says his company is interested in THQ's assets. Speaking to GamesIndustry International, Guillemot said the North American company has good brands, and that his own company is "always interested in good brands." He declined to go any further, but confirmed it's something Ubisoft "can consider."

THQ's struggles have surged in the wake of last week's blunt Q2 earnings call, with the company's stock decimated by half the day following. THQ's stock at the time of writing is $1.19 per share, compared to $3.02 on November 5.

EA obtained UFC rights from THQ earlier this year in exchange for an "undisclosed cash payment." Given the desperate situation and Guillemot's forwardness, more assets may well move on in the near future.

• Source: GamesIndustry International

 

[Wolfwood]

I hope they at least pick up Saints Row and the entire team of Volition.

 

[zenith16]

• 
  
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  Wells Fargo, THQ Reach Temporary Loan Agreement
  
  News
  on Nov 20, 2012 at 04:56 PM
  1,314 Views
  
  8
  The financial institution "has agreed to forbear from exercising its rights and remedies against THQ" for previous defaults on loans made to the publisher.
  ... More
  

source:GI

 

[Master Chief]

THQ currently have a humble bundle up for the next 2 weeks!

http://www.humblebundle.com/

Pay what you want, a minimum of $1 for,

Darksiders
Metro 2033
Red Faction Armageddon
Company of Heroes
Company of Heroes Opposing Fronts
Company of Heroes Tales of Valor
Saints Row the Third (beat the average)

You also get soundtracks for Saints Row the Third, Darksiders, Red Faction and Company of Heroes.

An optional donation to Child's Play and Red Cross.

All of the games activate on Steam and are only for Windows. I already own most of the games but I'm gonna buy a bundle anyway just to support 'em.

 

[Wolfwood]

I actually don't own any of those games... INTRIGUED. What's Metro 2033 like?

 

[Soapy]

It's a post-apocalyptic FPS set in eastern Europe. From what I gather, the draw of the game is the narrative and atmosphere. With the sequel coming out, I've been meaning to play it for a while now, but I just haven't got around to it. My backlog is too big as it is.

 

[Master Chief]

Pretty much. The attention to detail in the game is amazing. I was holding back waves of monsters with a stationary machine gun when I noticed the ammo belt started to run out. The last bullet went into the chamber and I actually had one shot left. Sooo cool. It's a wicked survival horror game but it is rather short, unless you want to see all the endings yourself without YouTube.

Something worth noting though is that it's not optimized well, but you should be fine playing with lower graphics settings.

 

[Master Chief]

THQ is giving away Metro 2033 if you "Like" this Facebook page.

https://www.facebook.com/THQDemos?sk=app_395840630491782

 

[zenith16]

THQ considering Linux and other platforms after Humble Bundle success

(6 hours ago)
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After the THQ bundle recently brought in over $5 million (split between THQ, charity donations, and "tips" to the bundle's organizers), the company's president Jason Rubin admits that he's looking at possible markets differently lately. Rubin's Twitter account says he "got the Linux message loud and clear" from the bundle, and he later told Polygon that "the message I took away from a large number of tweets and comments around the THQ Humble Bundle sale is that there are vibrant communities of gamers using other operating systems besides the dominant ones, and a company like THQ should not overlook them."

In other words, there's opportunity for THQ in selling computer games outside of the standard Windows ecosystem. Rubin has no plans yet, but he says the analysis has started, and the company is "committed to look at anything that makes sense" in terms of releasing titles on platforms other than simply Windows. In the past, THQ has released Mac versions of its Company of Heroes series through a third-party publisher, but it sounds like Rubin is considering a more widespread solution for cross-platform releases after this feedback. He says THQ should have more to announce soon.

• Via: GamesIndustry.biz
• Source: Polygon, @jason_rubin

 

[hippie_hunter]

THQ has declared bankruptcy and it's stock has plummeted today to 36 cents a share and has now been delisted from the NASDAQ. Clearlake Capital has emerged as a stalking horse bidder for $60 million allowing other parties to enter and make bids for assets.

 

[terry78]

See, I would think now is a good time to buy some of those shares in case another company starts them up again.

 

[hippie_hunter]

See, I would think now is a good time to buy some of those shares in case another company starts them up again.

No because the way THQ is being sold, it's essentially screwing over the investors in favor of those who are owed money by THQ. It's also in the process of being delisted.

 

[Fans of Reilly]

who will get THE wwe Games rights

 

[hippie_hunter]

Forbes take on anyone who wants to invest in THQ:

But the problem is this: THQ has $150 million or so in liabilities. At the current price, common holders will get zilch. Even if some crazed bidder doubles the purchase price of the company to $120 million, shareholders still get nothing.

If you really are determined to “invest” in THQ, I can provide the same returns with zero commission. Take the following steps: Pull out your wallet. Take out all the cash. Now go get some matches. Light one. And set your money on fire.

http://www.forbes.com/sites/ericsavitz/2012/12/20/thq-rallies-in-the-stupid-mans-trade-du-jour/

 

[hippie_hunter]

Reports are stating that what will happen to THQ will most likely be an asset sale as opposed to buying the publisher like what Warner Bros. did with Midway. THQ has far too much debt for anyone to just absorb. Warner Bros., Electronic Arts, and UbiSoft are apparently the ones showing the most interest so far.

Expect most of THQ's studios to get shut down with new developers taking over their IPs. Volition appears to be the only developer that will be safe.

 

[zenith16]

• 
  
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  Update #2: THQ President Responds To Today's Events
  
  News
  
  
  
  on Dec 19, 2012 at 06:50 PM
  17,106 Views
  
  86
  Update:THQ President Jason Rubin outlines what today's events mean for THQ, its studios, and the games the company is working on.
  ... More
  

source:GI

 

[hippie_hunter]

[YT]ycBaekoA-zg[/YT]

 

[zenith16]

well since Joe mad has headed back to marvel as I put up in both in the Darksiders and Marvel heroes MMO thread. seeing he has Experience in the Games industry I'd suggest he'd have the same position for marvel , that Jim lee has for DC video game department. well after he fully recovers from what happened with all this. I'd give him a few month at most a year.

 

[hippie_hunter]

who will get THE wwe Games rights

The WWE gets them back for the time being which will allow them to sell it to whatever publisher is willing.

 

[hippie_hunter]

Vince McMahon is reportedly furious at THQ because the WWE has been listed as an unsecured creditor. Because of the bankruptcy, the WWE is expected to lose up to $45 million.

 

[hippie_hunter]

UbiSoft is reportedly interested in bidding for THQ's assets but it waiting for them to sell a few assets first so they can get THQ's studios and most of its IPs for the cheap.

 

[Soapy]

Vince McMahon is reportedly furious

A common occurrence.