January 24, 2013 by Paul Curtin
After their plan to file for bankruptcy protection and keep producing games last December didn’t turn out as they had wished, THQ has been forced to sell off all of their assets. In an auction yesterday, all of THQ’s core franchises were sold off to other big name publishers. Sad news for the gaming industry and anyone at THQ; however, since the IPs and studios have been sold off to other publishers, gamers will most likely still see the releases of future installments to their favorite series.
- German media group Koch Media (Deep Silver) purchased THQ’s Volition studio, who were behind the successful Saints Row franchise, for $22.2 million. Publishing rights for the Metro intellectual property were also picked up by Koch.
- Relic Entertainment (Company of Heroes, Warhammer 40,000: Dawn of War) was acquired by SEGA for $26.6 million.
- Evolve, the unannounced co-op multiplayer action game from Turtle Rock Studios (co-creators of Left 4 Dead) was purchased by Take-Two Interactive for $10.9 million.
- Crytek, whose UK division has already been working on Homefront 2 for some time, purchased the Homefront IP for $544,218.
- Publishing rights for South Park: The Stick of Truth were purchased by Ubisoft for $3.2 million.
- THQ’s largest studio, located in Montreal, was also purchased by Ubisoft for $2.5 million. THQ Montreal had no titles in the works, so Ubisoft will likely just be acquiring the talent behind the studio.
- Vigil Games, the Texas-based studio behind Darksiders and its sequel, has yet to be purchased.
- Still no word on the WWE franchise, but it’s rumored that either Take-Two or Electronic Arts has acquired the license to add to their roster of yearly sports games.
“While we had hoped that the restructuring process would allow the company to remain intact, I am heartened that the majority of our studios and games will continue under new ownership,” said THQ CEO Brian Farrell. “It has been my pleasure to work alongside this great group of people, and I am proud of the imaginative and artistic games that our team has created. Although we will no longer be able to work together with a unified mission, I am confident that the talent we have assembled will continue to make an impression on the video game industry. For those whose positions are not likely to continue, I sincerely regret this outcome and we will be meeting with you over the next few days to discuss the transition.” “I was brought in eight months ago to help turn this ship around, and while I’m disappointed that we could not effect a sale for the entire operating business, I am pleased that the new buyers will be providing jobs to many of our very talented personnel,” added THQ president Jason Rubin. “When we first announced the sale process, I said I would be happy if the company’s games and people had a bright future, even if it meant I did not have a job at the end of it. And I still feel that way.”
