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THQ's bankruptcy sale details: Auction on January 22nd, Will Allow Piecemeal Purchase

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G

grandjedi6

Master of the Google Search
Green Scar said:
Patrick Klepek was saying differently on last week's Bombcast. If you're right, then that's great.
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Patrick is wrong. They stated several times that they own everything but Iron Brigade and they currently hold the trademarks to both Costume Quest and Stacking

snoopeasystreet said:
They might own the ip but not the publishing rights to those ip on consoles.
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This is entirely possible though
 
A

Aquamarine

Member
Miizy F Baby said:
Who the hell is Koch Media?
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It's a European media publisher, its video game publishing arm is called Deep Silver. Here are some notable games it has published:

Sacred 2
Risen
Risen 2
Cursed Mountain
Anno 1701
X2
X3: Reunion
X3: Terran Conflict

duckroll said:
Okay, so based on the reports from Manveer's twitter, we have:

- Ubisoft acquires South Park: Stick of Truth and THQ Montreal
- Take2 acquires Turtle Rock's project
- Sega acquires Relic
- Koch Media acquires Volition
- No one wants Vigil

Is that it right now?
Click to expand...

RIP Vigil

RIP THQ
 
Z

zomgbbqftw

Banned
duckroll said:
Okay, so based on the reports from Manveer's twitter, we have:

- Ubisoft acquires South Park: Stick of Truth and THQ Montreal
- Take2 acquires Turtle Rock's project
- Sega acquires Relic
- Koch Media acquires Volition
- No one wants Vigil

Is that it right now?
Click to expand...

That would surprise me. Such a big console IP going to them doesn't make much sense. They would have to leverage the company on it and hope that it makes enough money to pay the interest bill and at least half of the loan capital.
 
B

batteryLeakage

Neo Member
SteveWinwood said:
Bought it for Darksiders. They don't need the people apparently.
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Assuming this is true, why would you do that, Take 2? Its not like Vigil ran the series into the ground. They've done a great job and have built up valuable experience with the development of this IP. Why throw that away and have someone else do it?

I feel its like Valve says (paraphrasing): that those that work with the IP and have a good knowledge of it can bring the most value to new projects. Its like buying Half-Life and throwing Valve away and then making carbon-armor horses.
 
Interfectum

Interfectum

Member
Dead Island was a pretty damn good game and made full use of Steamworks as well. Don't really see a problem with them publishing SR4.
 
S

sweetvar26

Member
duckroll said:
Okay, so based on the reports from Manveer's twitter, we have:

- Ubisoft acquires South Park: Stick of Truth and THQ Montreal
- Take2 acquires Turtle Rock's project
- Sega acquires Relic
- Koch Media acquires Volition
- No one wants Vigil

Is that it right now?
Click to expand...

Any word on what's going on with Metro/4A Games?
 
S

Seda

Member
From Kotaku, THQ's letter to employees

To All THQ Employees:

We now have the answers we've been seeking through our financial restructuring and
Chapter 11 case. While much will be written, here are the facts of the bids and auction
that occurred:

Yesterday morning, we received a competing bid for the operating business,
along with Clearlake's offer, and numerous offers for separate assets.
During an auction process that lasted over 22 hours, the final conclusion was
that the separate-asset bids would net more than a single buyer for the majority
of the company.

Shortly, we will, present the results to the U.S. Bankruptcy Court, which must
concur with our assessment.

The proposed sales of multiple assets is as follows :
  • Sega agreed to purchase Relic
  • Koch Media agreed to purchase Volition and Metro
  • Crytek agreed to purchase Homefront
  • Take 2 agreed purchase Evolve and
  • Ubisoft agreed to purchase Montreal and South Park
  • We expect these sales to close this week.

Some assets, including our publishing businesses and Vigil, along with some other
intellectual properties are not included in the sale agreements. They will remain part of
the Chapter 11 case. We will make every effort to find appropriate buyers, if possible.

What this means for employees

We expect that most employees of the entities included in the sale will be offered
employment by the new owners. However, we cannot say what these owners may
intend, and there will likely be some positions that will not be needed under the
new ownership. You should receive notice this week or early next week if the new
owners intend to extend employment to you. Please note that the terms of your new
employment, including pay and benefits, may be different from the current terms of
your employment with THQ.

If you are an employee of an entity that is not included in the sale, we regret that
your position will end. A small number of our headquarters staff will continue to be
employed by THQ beyond January 25 to assist with the transition. THQ has sufficient
resources to pay these employees for work going forward, and we will be contacting
these employees immediately to ensure their continued employment during this
transition period. We are requesting the ability to offer certain severance pay to
minimize disruption for employees of non-included entities as they determine the next
steps in their careers.

We know you will have many questions about this news. We'll be meeting tomorrow
when we return to talk through this announcement and to answer any questions you
have. You will receive a benefits fact sheet and FAQs with answers to some questions
that may be on your mind. Please review these materials closely.

A personal note

The work that you all have done as part of the THQ family is imaginative, creative,
artistic and highly valued by our loyal gamers. We are proud of what we have
accomplished despite today's outcome.

It has been our privilege to work alongside the entire THQ team. While the company
will cease to exist, we are heartened that the majority of our studios and games will
continue under new ownership. We were hoping that the entire company would remain
intact, but we expect to hear good news from each of the separate entities that will be
operating as part of new organizations.

For those THQ employees who are part of entities that are not included in the sale, we
are confident that the talent you have displayed as part of THQ will be recognized as you
take the next steps in your career.

Thank you all for your dedication and for sharing your talent with the THQ team. We
wish you the best of luck and hope you will keep in touch.

Sincerely,

Brian Farrell
Chief Executive Officer

Jason Rubin
President
Click to expand...
 
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