THQ dissolved

Bankrupt publisher to be broken apart, with games and studios sold to Sega, Koch Media, Crytek, Take-Two, and Ubisoft.

THQ is no more. The company will be broken apart and its games sold to at least five different companies, according to a letter sent to employees today from CEO Brian Farrell and president Jason Rubin. Kotaku obtained the letter, which further states THQ is currently presenting its case to the US Bankruptcy Court.

The proposed sale, including sales figures and backup bidders for each, is below.

Relic Entertainment and Company of Heroes franchise
Winning bid: $26.6 million - Sega Corporation
Backup bidder: $26.3 million - Zenimax Media

THQ Montreal, including 1666 and Underdog
Winning bid: $2.5 million - Ubisoft
Backup bidder: None

Evolve aka Metamorphosis
Winning bid: $10.894 million - Take-Two Interactive
Backup bidder: $250,000 - Turtle Rock Studios, Inc.

Volition and Saints Row franchise
Winning bid: $22.3 million - Koch Media
Backup bidder: $5.4 million - Ubisoft

Homefront franchise
Winning bid: $544,218 - Crytek
Backup bidder: None

Metro franchise
Winning bid: $5,877,551 - Koch Media
Backup bidder: $5.175 million - Ubisoft

South Park: The Stick of Truth
Winning bid: $3,265,306 - Ubisoft
Backup bidder: None

The fate of the Darksiders franchise and its developer, Vigil Games, is unknown. Farrell and Rubin said, "We will make every effort to find appropriate buyers, if possible."

The formal THQ auction document reveals an unannounced game from THQ Montreal called "Underdog." This is in addition to the company's still-unannounced "1666" and could be a working title.

The document also suggests that High Voltage Software (The Conduit) is working with Volition Inc. on development on Saints Row 4, though it is not clear in what capacity.

Farrell and Rubin said most employees included in the sale will be offered jobs by their new owners. However, this is not a certainty, and "there will likely be some positions that will not be needed under the new ownership," they said.

All employees of a company not included in the sale will be out of a job. A "small number" of staff at THQ headquarters in Agoura Hills, California, will remain employed beyond January 25 to assist in the transition.

"While the company will cease to exist, we are heartened that the majority of our studios and games will continue under new ownership," Farrell and Rubin said. "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," they said.

Separately, THQ bankruptcy representatives told GameSpot today that an official announcement will be made once it has approval from the court and from the company's lawyers. No specific timetable was provided.

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Discussion

869 comments
LE5LO
LE5LO

Despite my playthrough of Crysis 2 being a little underwhelming, and reading average reviews of the 3rd, the first and its expansion are classics. If done right, the thought of a Homefront sequel by Crytek is good news.

badiie05
badiie05

argh! the only game i wanted saved was darksiders! 

simon1812
simon1812

whats gonna happen to the Warhammer 40k franchise?

csward
csward

Well. no EA or Activision involved so all is well here.

KrazzyDJ
KrazzyDJ

"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," ...


Talk about Euphemism !!!

kelborn3
kelborn3

Im just loling. Sega got the Warhammer franchise. Next stop Warhammer 40k total war edition. Futuristic battles in the milky way galaxy. Do u have what it takes to be the next God Emperor? Facepalm!!!!

Crush_Project
Crush_Project

while thq had at one point been my favorite producer, i am overjoyed by this.  Those d bags ruined everything.

And it wont be bad to see things like metro in the hands of folks like deep silver (koch, they made one of the stalker games already), and folks like sega (who made the total war series) getting their hands on dawn of war and company of heroes etc.

dmdavenport
dmdavenport

Looks like Darksiders might become a collector's item. And who is Koch media? Sorta hoped Ubisoft would get the Metro series.

BYOBando123
BYOBando123

Does anyone else find it hysterical that every single franchise sold for millions of dollars, but Homefront sells for 500k and has no runner up bidder?  Talk about confirmation for how horrible a game is.

Flamerdragon
Flamerdragon

I hope Vigil games find a home. Would like more Darksiders.

digitaldevil624
digitaldevil624

koch media made catherine and dead island so it can't be that bad

Arsyad00
Arsyad00

heard dat Platinum Games interested in buyin Darksiders :DD

danielfitch
danielfitch

Or is it just me who loved darksiders...eh?...eh??...what do you guys think??.

danielfitch
danielfitch

WHAT ..!! no one bought Darksiders ...Really..!!!. That is shocking as hell....I mean it was the best IP among all the others....Tragic really.

sumer03
sumer03

Well. Crytec got the awesome game from THQ. Let's see what they can do with it...

SSeetoh
SSeetoh

homeworld.............................................................................................

hardeman
hardeman

koch media got saints row............ fuckin hell

shantd
shantd

Surprising that Company of Heroes got several million dollars more than the Saints Row series. Also, Crytek made themselves a good deal fetching Homefront for half a million. It may have been a crap game, but it still sold almost 3 million units. The name recognition alone is worth the money for a sequel.

foxrock66
foxrock66

One of the last great ones. RIP

thequickshooter
thequickshooter

at least COH2 and metro last light are in good hands 

Vicsporche
Vicsporche

As long as my COH 2 comes out with a bang and it's polished i'm ok w.e that, I mean who knows maybe they'll let creative assembly work with it, Love the Total War series, and Sega publishes it out, never been disappointed with their games so far, I'm not to worried. Homefront and Crytek might just make a nice pair. I'm looking forward for the South Park game, we'll see how that goes. Koch They published stalker clear sky, and I rather enjoyed it so I could see metro living on perhaps. The rest of the games/franchises i could care less about. R.I.P THQ though they surely will be missed, sad to see them go, one company that still held it's head high and produced quality games for their gamers, that's my opinion at least, I will miss them! Thanks for the great games!!!!!!!!!!!


OrBNRGY
OrBNRGY

bright side: those shitty movie based games will be delayed until they start the machine back up. 

HKILLER88888
HKILLER88888

F*CK why Relic Went to Sega?Now they gonna f*ck up the Warhammer franchise (the new 3rd person and all those strategy one's)Sega go make your Multifunctional sh*tty games ( referring to Hell Yeah! Wrath of the Dead Rabbit and Binary Domain)Get Away From RELIC!

tavyhome
tavyhome

Sad...this is...very very very saad...from alot of aspects....THQ was and will remain (in memory) a good, proud and just Publisher... probably that's why it died...Unlike EA and other who will try to make all the money possible from a game... (I do agree with them to some extend...I mean developers DO need to eat and have families etc, but sometimes is just waaay to aggressive...their marketing scheme)...
Still.. I dropped a tear when I read this even if I don't know anyone personal at THQ...it sorrows me alot....I hoped they will not die like this....

Zloth2
Zloth2

There's a Kickstart going on to buy the Homeworld IP.  I can't say I really trust the folks doing the kickstart, though.  I would rather see Stardock buy it.  (And I would very much like to see GOG start selling the first two games!)

kratospete
kratospete

really? the stick of truth is that important ! lol

PacoTaco
PacoTaco

Volition and Saints Row franchise
Winning bid: $22.3 million - Koch Media
Backup bidder: $5.4 million - Ubisoft

Koch Media was a tad zealous here!  Must really highly value the Saints Row franchise

DanielL5583
DanielL5583

As sad as I am to see it go, I will be honest that I saw this coming.

They were on a downward spiral since the start of the last decade, so I didn't have many hopes lasting 'til 2015. Such a shame for them to die out all the same.

carolino
carolino

one or two big names wouldn't sufice ? :| damn

IllegallyAwesum
IllegallyAwesum

Crytek has homefront? I see this turning into something awesome.

DeadManRollin
DeadManRollin

RIP THQ. I had a great time playing a lot of WWE games, so I will definitely miss them around. 

gamingfrendly
gamingfrendly

just an advise disabled the auto updates on all your THQ published games on steam or any other platform that does the same who knows what might happen.

blackace
blackace

That sucks. TH-Q was a great company. I'm a little worried about this however.

South Park: The Stick of Truth
Winning bid: $3,265,306 - Ubisoft

 I hope Ubisoft doesn't screw it up. This is really the only game I'm looking forward to coming out of TH-Q. 

csward
csward

@kelborn3 That actually sounds like a possibility though. I hope they keep it real time though or have both.

King9999
King9999

@BYOBando123 By your reasoning, the Darksiders games must be terrible then because there isn't even a buyer.

Black_Pander
Black_Pander

@FROZENFAR962269 best case scenario, they keep the original team and let them finish what they started. most likely they'll keep the team, but release a largely unfinished game trying to turn a quick profit. they made dead island and risen. i'm finding it hard to be optimistic

Black_Pander
Black_Pander

@shantd not to mention being a neat concept. and being about shooting koreans. I can't help but wonder about crytek sometimes...

hardeman
hardeman

@bluespire1 

the team was renamed crytek usa and has said no future darksiders will be developed....... teah

Beardof_Zeus456
Beardof_Zeus456

Glad that Stick of Truth ain't delayed tho, hope that game's KRUUUUUNCK!!


Black_Pander
Black_Pander

@blackace ubisoft is a pretty solid company. the vast majority of the games that they've released have been pretty solid. 

LE5LO
LE5LO

@Black_Pander "being about shooting koreans." lol, so true. Remove the Nanosuit and anything to do with the Ceph, re-use all the Korean skins and dialogue from Crysis and Crysis Warhead, re-use the environments from Crysis 2 and we have...Homefront 2! It must've been a no-brainer for them.