THQ split up and sold in five parts through bankruptcy auction
The writing was on the wall when THQ filed for Chapter 11 bankruptcy protection last month
, and now that writing has been etched in stone. After a 22-hour auction, the major publisher's component parts have been divided and sold off in five separate chunks to outside investors.
Company CEO Brian Farrell and President Jason Rubin confirmed the news in a letter to employees today. The bidding resulted in the following proposed sales of THQ's studios and franchise licenses/copyrights, which still have to be approved by the bankruptcy court:
- To purchaseRelic (developer of Warhammer 40K and Company of Heroes 2) for $26.6 million.(Interestingly, Bethesda Softworks owner Zenimax media came just short of winning this portion with a $26.3 million bid.)
- Koch Media
- To purchase Volition (developer of the Saints Row and Red Faction games) for about $22.3 million.
- To purchase the Metro franchise license for nearly $5.9 million.
- To purchase theHomefrontlicense for $544,218.
- Take 2
- To purchase Evolve (a turtle Rock Studios project trademarked last year) for about $10.9 million.
- To purchase THQ Montreal (developer of the upcoming 1666, among others) for $2.5 million
- To purchase the license to South Park: The Stick of Truth for about $3.26 million (though South Park Studios is putting up some legal argument over that part of the sale)
developer Vigil Games received no bids and unfortunatelywill be shut down. Most current employees at THQ's other studios will likely be retained or rehired by the new owners, the letter says, but there's a chance some positions may not be considered necessary in the new ownership structure.
Read 1 remaining paragraphs
http://feeds.feedburner.com/~ff/arst...4U:V_sGLiPBpWU http://feeds.feedburner.com/~ff/arst...4U:F7zBnMyn0Lo http://feeds.feedburner.com/~ff/arst...?d=qj6IDK7rITs http://feeds.feedburner.com/~ff/arst...?d=yIl2AUoC8zA
|All times are GMT -5. The time now is 08:27 PM.
Powered by vBulletin® Version 3.7.1
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Copyright ©1998 - 2014, nV News.