PDA

View Full Version : R.I.P THQ



Crazy Swede
23 Jan 2013, 05:25pm
The unimaginable have happened, THQ have filed for bankruptcy and sold their assets.



January 23, 2013

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.

http://icrontic.com/uploads/features/2013/01/THQ-Packing-300x272.png

THQ employees already packing up

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

Source and content from: http://icrontic.com/article/the-end-of-thq

Energy
23 Jan 2013, 05:45pm
Man that really sucks :( o7

RoverBot3
23 Jan 2013, 05:52pm
I have their (no longer)thq bundle pack :3

omarfire00
23 Jan 2013, 05:54pm
Darn man, I never got any of their packs :(

Was waiting for more to come but now there won't be anything.

Leon
23 Jan 2013, 09:17pm
Aw that sucks :/ but I can't wait for Metro Last Light to come

Veggie
23 Jan 2013, 09:42pm
Damn, guess this had to happen tho.

Aznsoul
23 Jan 2013, 09:54pm
Sad to see them go, they made great games.

Hopefully, Crytek will make Homefront 10x better.

Frostbyte
23 Jan 2013, 10:52pm
Company of Heroes 2 in the hands of Sega

/wrist

Neptune
23 Jan 2013, 11:10pm
R.I.P. THQ, My god what have they done leaving these games in the hands of others.

Frostbyte
23 Jan 2013, 11:26pm
You realize they went bankrupt... right?


Edit: I find it hard to be mean to you when Olivia Wilde is in your sig and seducing the fuck out of me. Colbert's no slouch either.

Neptune
24 Jan 2013, 12:43am
You realize they went bankrupt... right?


Edit: I find it hard to be mean to you when Olivia Wilde is in your sig and seducing the fuck out of me. Colbert's no slouch either.

I meant the few games they sold off.

Skyrocket
24 Jan 2013, 01:00am
Fuck... A company that developed some amazing and unique games going bankrupt... The industry lost one of it's heroes.
RIP THQ, and hopefully the new owners don't ruin the properties...

Dimitry
24 Jan 2013, 01:24am
This is indeed a sad day.

Dirk
24 Jan 2013, 02:25am
I swear if Sega so much as touches a single texture in COH 2 I will be seriously pissed off.

mapper
24 Jan 2013, 02:32am
And now what is going to happen to the follow up of metro :/

Frosty
24 Jan 2013, 03:03am
Hope SEGA don't mess up Company of Heroes and bring back Warhammer 40k to what it use to be.

Eskomo
24 Jan 2013, 05:16am
Should have made games people want to buy. RIP

Lupin
24 Jan 2013, 05:50am
And now what is going to happen to the follow up of metro :/

GameSpy: THQ Auction Over, Company of Heroes 2, Metro Last Light, Saints Row 4 Safe - Page 1 (http://pc.gamespy.com/articles/122/1227230p1.html)

Frosty
24 Jan 2013, 06:08am
Should have made games people want to buy. RIP

?

Just lol.

SEGA isn't too bad, they have done a good job with PC ports lately and they have done Total War.

Chaoz`
24 Jan 2013, 11:13am
Fuck... A company that developed some amazing and unique games going bankrupt... The industry lost one of it's heroes.
RIP THQ, and hopefully the new owners don't ruin the properties...

Guess you could say they were a Company of Heroes :LOOL:

Riperzz
24 Jan 2013, 11:58am
No one bought vigil D: RIP Darksiders

Im a Jackass
24 Jan 2013, 04:56pm
?

Just lol.

SEGA isn't too bad, they have done a good job with PC ports lately and they have done Total War.

Total war is way different compaired to company of Heros and what about Stalker :(

WoLF
24 Jan 2013, 05:02pm
They made awesome games , this is a sad day :cry:

Pan32
24 Jan 2013, 05:36pm
Wow... that actually makes me really sad. Saints Row: The Third was def the one that was the best one (I know bread will back ke up on this)

oh and @Koch Media: DONT YOU FUCKING DARE ON RUINING SAINTS ROW 4 AND METRO LAST NIGHT, DONT EVEN THINK ABOUT IT

Octa
24 Jan 2013, 05:42pm
Going to miss darksiders... All the other games, dont give a fuck

Sniper
24 Jan 2013, 08:04pm
I hope this doesn't delay Metro: Last Light's release...or quality.

Revolution18
24 Jan 2013, 08:06pm
Such a sad day i hope they don't fuck up COH.

Vick
24 Jan 2013, 09:13pm
Aww. They made some awesome games!
Really wished they weren't bankrupt.
:evil: (WWE Games :huh:)

bigt4203
24 Jan 2013, 10:10pm
I hope this doesn't delay Metro: Last Light's release...or quality.

I'm pretty sure Metro Last Light will be unaffected seeing as the game is due to be released within the next couple months. They are probably just finished up testing and fixing any bugs in the game.

Frosty
25 Jan 2013, 12:30am
Total war is way different compaired to company of Heros and what about Stalker :(

I know, but what I'm saying is they probably aren't just going to change the whole gameplay so it's like Total War, unless they were EA.

Dirk
25 Jan 2013, 12:52am
My biggest concern is not that they will screw up COH2 at launch but that they will mess up the support down the road. COH1 had continued support for years.

Farmer Mick
25 Jan 2013, 05:15am
i personally dont think relic going to sega is too bad, sega make good game's but i guess only time will tell. Be interesting to see whether they keep the warhammer license

bigt4203
25 Jan 2013, 05:53am
i personally dont think relic going to sega is too bad, sega make good game's but i guess only time will tell. Be interesting to see whether they keep the warhammer license

From what I read, Sega actually is mostly hands-off when it comes to game development. They let the developers do what they want with the games, basically deciding their own fates unlike EA who runs everything like a dictatorship, ruining a lot of games that had potential (Star Wars: The Old Republic for example) and turning them into rubbish.

Devastator4455
26 Jan 2013, 12:49am
sad to see a good company go under :(

Lux
26 Jan 2013, 08:03pm
SEGA own Creative Assembly (Total War) and Sports Interactive (Football Manager) and both are quite individual in their development, they're basically left to it because they know best. So, with that in mind this takeover doesn't really bother me.