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General discussion (archive)THQ is struggling.(130 posts)(130 posts)
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This is my favourite topic
Posted December 19, 2012
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Tarm: That was what I got out of your first link to that forum. It wasn't all that spelled out so I'm not 100% I understood it right.

Edit: "
Clearlake has agreed to serve as the “stalking horse bidder” for a Section 363 sale process, which allows other interested parties to come forward with competing bids. Aggregate consideration offered by Clearlake for the purchase totals approximately $60 million, including a new $10 million note for the benefit of the company's creditors. The company is asking the Court for a schedule to complete the sale process in about 30 days.
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Ok, that makes it sound like they are doing it out of pity or that they are being given the choice to get everything for cheap in the (likely case) that nobody else wants to buy all of THQ's assets.

They added this analysis on Neogaf:

[i]What does this mean?

Well, there are two primary options.

1.) Clearlake is buying THQ with the intention of running them as a normal publisher. THQ was not a profitable entity, so this might be a bit unlikely. It's not entirely impossible however.

2.) Clearlake is buying THQ with the intention of selling off their assets at a later date. By funding THQ until they get through bankruptcy court, THQ's debt is removed, allowing the assets (or the company as a whole) to be sold off without having their studios shut down and have key staff leave. This means that their IPs and studios are more valuable than they would be otherwise, and that Clearlake got to buy them at a relatively cheap price since the $100+ million in debt that got added on to the cost is no longer there, thus meaning any asset sales would likely net a profit.[/i]

I'd bet that it's the second choice.
Post edited December 19, 2012 by OmegaX
Posted December 19, 2012
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Tarm: That was what I got out of your first link to that forum. It wasn't all that spelled out so I'm not 100% I understood it right.

Edit: "
Clearlake has agreed to serve as the “stalking horse bidder” for a Section 363 sale process, which allows other interested parties to come forward with competing bids. Aggregate consideration offered by Clearlake for the purchase totals approximately $60 million, including a new $10 million note for the benefit of the company's creditors. The company is asking the Court for a schedule to complete the sale process in about 30 days.
"
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OmegaX: Ok, that makes it sound like they are doing it out of pity or that they are being given the choice to get everything for cheap in the (likely case) that nobody else wants to buy all of THQ's assets.

They added this analysis on Neogaf:

[i]What does this mean?

Well, there are two primary options.

1.) Clearlake is buying THQ with the intention of running them as a normal publisher. THQ was not a profitable entity, so this might be a bit unlikely. It's not entirely impossible however.

2.) Clearlake is buying THQ with the intention of selling off their assets at a later date. By funding THQ until they get through bankruptcy court, THQ's debt is removed, allowing the assets (or the company as a whole) to be sold off without having their studios shut down and have key staff leave. This means that their IPs and studios are more valuable than they would be otherwise, and that Clearlake got to buy them at a relatively cheap price since the $100+ million in debt that got added on to the cost is no longer there, thus meaning any asset sales would likely net a profit.[/i]

I'd bet that it's the second choice.
Oh the drama!

This is not that bad news then. It means that it's likely the games under development will be made (Company of Heroes 2. Yay! \o/ ) and that THQ have a chance to come out of it with its core intact and capable of making more fun games. Alternative 2 that is and I think that's the likeliest possibility too.
Posted December 19, 2012
Clerlake has no history in computer games or any kind of electronics. I'd say scenario 2 is. most likely to happen. This is a very sad day.
It seems like.THQ bundle was gift to gamers before they go tits up, rather than trying to do cashgrab.

I hope that everything works out for them, but this is most likely another Midway scenario in the making.
Posted December 19, 2012
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Fictionvision: I'm sure humble bundle helped some, but their problems were just too deep for the last ditch effort to pull them out.

Damn shame too.

Edit: So uh, are people pre-ordering THQ games safe to do so or should they go get their money back?
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dirtyharry50: I'm not sure anyone even can get their money back if they have filed for bankruptcy already but I would try right now if I had preordered anything. Who knows what will happen to any projects in progress, if somebody might buy them up or not, etc.

This is sad news. I am sorry to see this. :(
Company of Heroes 2, Metro 2, and South Park are all still going to come out. Did they have any other games up for preorder?
Posted December 19, 2012
THQ were one of the few publishers I liked due to their game line up
I hope we still see a Dawn of War 3 and the 40k Dark Millennium games come out
Posted December 19, 2012
With any luck, CDProject would buy THQ from Clearlake, as we could use more AAA game studios that avoid DRM and DLCitis.
Posted December 19, 2012
Fuck
Posted December 19, 2012
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Sabin_Stargem: With any luck, CDProject would buy THQ from Clearlake, as we could use more AAA game studios that avoid DRM and DLCitis.
I don't think they have even remotely enough money, and even if they had enough to buy everything, they'd probably end up disbanding/selling one or more studios and selling some of IP as they don't have enough money to produce tons of AAA franchises.
Posted December 19, 2012
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Sabin_Stargem: With any luck, CDProject would buy THQ from Clearlake, as we could use more AAA game studios that avoid DRM and DLCitis.
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IronStar: I don't think they have even remotely enough money, and even if they had enough to buy everything, they'd probably end up disbanding/selling one or more studios and selling some of IP as they don't have enough money to produce tons of AAA franchises.
I'm thinking this too. Though I'd love for CD Project to buy some IPs and make nice, gritty and adult games for them. :)
Posted December 19, 2012
Personally, what I really care about is Relic. I kinda liked THQ, but I'll be satisfied if Relic goes on as it has. Either by continuing their IPs (Homeworld, Dawn of war, company of heroes) or selling them and starting anew. Just, please, keep that one running. Please.
Posted December 19, 2012
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IronStar: I don't think they have even remotely enough money, and even if they had enough to buy everything, they'd probably end up disbanding/selling one or more studios and selling some of IP as they don't have enough money to produce tons of AAA franchises.
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Tarm: I'm thinking this too. Though I'd love for CD Project to buy some IPs and make nice, gritty and adult games for them. :)
I'd love this scenario too, but harsh reality suggests EA for WWE and most likely Ubi for the rest as they said they are looking for new franchises.
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P1na: Personally, what I really care about is Relic. I kinda liked THQ, but I'll be satisfied if Relic goes on as it has. Either by continuing their IPs (Homeworld, Dawn of war, company of heroes) or selling them and starting anew. Just, please, keep that one running. Please.
They are highly valuable asset. I doubt anyone would be insane enough to disband them.

Still, I don't think there is bright future ahead :(
Post edited December 19, 2012 by IronStar
Posted December 19, 2012
I told them to add Winter Assault to the bundle. They didn't listen, and that's what happens when you don't listen to me.
Posted December 19, 2012
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Tarm: I'm thinking this too. Though I'd love for CD Project to buy some IPs and make nice, gritty and adult games for them. :)
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IronStar: I'd love this scenario too, but harsh reality suggests EA for WWE and most likely Ubi for the rest as they said they are looking for new franchises.
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P1na: Personally, what I really care about is Relic. I kinda liked THQ, but I'll be satisfied if Relic goes on as it has. Either by continuing their IPs (Homeworld, Dawn of war, company of heroes) or selling them and starting anew. Just, please, keep that one running. Please.
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IronStar: They are highly valuable asset. I doubt anyone would be insane enough to disband them.

Still, I don't think there is bright future ahead :(
Yeah. But I wont give up hope yet.
Posted December 19, 2012
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P1na: Personally, what I really care about is Relic. I kinda liked THQ, but I'll be satisfied if Relic goes on as it has. Either by continuing their IPs (Homeworld, Dawn of war, company of heroes) or selling them and starting anew. Just, please, keep that one running. Please.
Dawn of War is not their IP. It belongs to Games Workshop. And I don't think GW will stay with a bankrupt. They will probably find a new business partner to make new WH40K games.
Posted December 19, 2012
Sigh shame what is happening. I do like THQ as they are one of the few publishers that rekease pc only games such as Dawn of War and i loved the Saints Row Games.

Hope they can pull through this storm and survive.
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This is my favourite topic
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General discussion (archive)THQ is struggling.(130 posts)(130 posts)
(130 posts)