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THQ files for bankruptcy protection, assets sold to investme

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Clearlake Capital Group purchases publisher for $60m

THQ is planning to sell all its games and assets to a private investment firm for $60 million, and in the process has filed for bankruptcy to smooth the deal over.... read more

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THQ files for bankruptcy protection, assets sold to investme

Postby fatgangsta » 19 Dec 2012, 20:37

Party Anyone? Release Cr*p games you don't make much profit simples
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Re: THQ files for bankruptcy protection, assets sold to inve

Postby alan666 » 19 Dec 2012, 20:48

Where did it all go wrong ?
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Re: THQ files for bankruptcy protection, assets sold to inve

Postby dannyhulse » 19 Dec 2012, 20:52

alan666 wrote:Where did it all go wrong ?


uDraw.
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Re: THQ files for bankruptcy protection, assets sold to inve

Postby Barry316 » 19 Dec 2012, 20:56

And the wrestling games that didn't change much over the years and didn't live up to the older ones.
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Re: THQ files for bankruptcy protection, assets sold to inve

Postby Gambini » 19 Dec 2012, 20:58

Clearlake Capital Group, L.P purchases publisher for $60


I feel like there's an important word missing somewhere in that sub-heading... :wink:
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Re: THQ files for bankruptcy protection, assets sold to inve

Postby B_G_G » 19 Dec 2012, 21:19

fatgangsta wrote:Party Anyone? Release Cr*p games you don't make much profit simples


THQ have some great games so I don't think thats fair, and who on earth wants to celebrate a games company going out of business?

They do make a lot of crap too, mind. And uDraw basically killed them.

If Company Of Heroes 2 and South Park don't get released I will fall on the floor and weep.
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Re: THQ files for bankruptcy protection, assets sold to inve

Postby Stan_Goodspeed » 19 Dec 2012, 21:35

B_G_G wrote:
fatgangsta wrote:Party Anyone? Release Cr*p games you don't make much profit simples


THQ have some great games so I don't think thats fair, and who on earth wants to celebrate a games company going out of business?

They do make a lot of crap too, mind. And uDraw basically killed them.

If Company Of Heroes 2 and South Park don't get released I will fall on the floor and weep.


I wholeheartedly agree. THQ published some terrific games in the past few years: Darksiders, Metro 2033, DeBlob, Saints Row 3... Not to mention upcoming games like South Park and their profitable partnership with the WWE. They were the laughing stock of the video game world - and deservedly so - back in the 90's with their crappy tie-in games but in recent years they really managed to improve the overall quality of their releases - with the occasional lousy products, like every publisher. A damn shame that uDraw impacted them so badly.
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Re: THQ files for bankruptcy protection, assets sold to inve

Postby toaplan » 19 Dec 2012, 22:15

$60 million sounds awfully low, even considering that THQ has about $200 million debt that will have to be restructured in the bankruptcy. There would still be time for another buyer to step in and make a competing bid, but It looks like the other publishers just aren't interested, which seems strange to me.

EA bought the UFC licence from THQ and Ubisoft's CEO talked about the possibility of acquiring THQ's IPs, but that's about it. The multimillion-selling Saints Row alone should get the other publisher CEOs to notice that there's a THQ firesale going on, but I guess the monetization schemes of their existing franchises are keeping them occupied...
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Re: THQ files for bankruptcy protection, assets sold to inve

Postby Sangor » 19 Dec 2012, 23:27

I have my fingers crossed that Volition, Relic and Vigil come out of this more or less unscathed. Losing any of these studios would be a massive loss to the games industry.
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Re: THQ files for bankruptcy protection, assets sold to inve

Postby CrispyLog » 19 Dec 2012, 23:37

But Relic are so efficient!

Really hope this doesn't affect CoH2 and Metro2 or I'll be gutted.
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Re: THQ files for bankruptcy protection, assets sold to inve

Postby gmcb007 » 20 Dec 2012, 00:15

Damm, why couldn't they go bankrupt after Metro's release!
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Re: THQ files for bankruptcy protection, assets sold to inve

Postby MrPirtniw » 20 Dec 2012, 01:43

Shiiiiit. I love Darksiders. And I really want to play the new South Park. And Saints Row was good fun. This isn't good news what-so-ever. Hope the devs come out of it alright.
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Re: THQ files for bankruptcy protection, assets sold to inve

Postby Imaduck » 20 Dec 2012, 04:40

Nooooooooooooooooooooo!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! :cry:
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Re: THQ files for bankruptcy protection, assets sold to inve

Postby Megatrons_Fury » 20 Dec 2012, 06:08

UDRAW has basically killed them. Along with games like Darksiders 2 which sold like cancer in a box but cost a fortune to make and market. Saints row games were always good fun but sales compared to the GTA series were poor.

If the studios and talent can be saved and projects like Metro and South Park survive then at least something good came from all this, anybody in management out of a job i laugh and spit on, this company highlights the huge gulf between people in charge and the games industry trends and markets, i loathe incompetence especially when it puts peoples jobs at risk, a 6 year old could have spotted the mistakes made by directors......Directors who at some point will still get a golden handshake.

Im almost 100% sure EA will go after the WWE franchise, its still a consistent seller in America and Europe and they have the motion capture studios and sports release yearly titles experience.

With so many developers going to the wall it shows that the recession and gap between console generations plus p**s poor decisions from a lot of people who should have known better has left the industry in very poor condition. I dont see 2013 getting any better at all, the WII U sales have now dropped off its already discounted on most websites, play.com sell the 8gb model for 224.99 as of tonight, the Vita hasnt gotten started, the 3DS is doing nicely i guess but wii is dead and 360/ps3 sales have stalled. Theres definately a serious lull going on, you can feel it talking to suppliers and people in games shops let alone forums and game websites.

With each passing year less and less REAL games get released (forget IOS shovelware) its almost like the film industry in that you may only get 3 biggish releases a month and that even goes for peak months and the rate of discounting so quickly after launch is alarming to say the least.

Tough times for everyone really, best wishes to the staff involved. Bad news at xmas always feels about 1,000 times worse for some reason.
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Re: THQ files for bankruptcy protection, assets sold to inve

Postby Barca Azul » 20 Dec 2012, 09:34

I thought EA got WWE around E3 time?

For me its no surprise and to be honest, no great loss either for me personally.
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