THQ Officially Gone

The publisher has had its studios and properties auctioned

by on 23rd Jan, 2013

UPDATE - WWE will be purchased by Take-Two, according to IGN. These negotiations took place outside of the auction.

Original Story - We've been following the THQ story for quite a while now, but it seems that that story has finally ended. After complaints from THQ creditors, the auction for Clearlake to buy the publisher for $60 million didn't pan out as the judge sided with the creditors. As such, THQ's assets have been individually auctioned off, just as the lenders wanted.

The news rolled sadly through Twitter as layoffs appeared imminent after some studios did not get purchased. The future of these studios and their remaining employees is vague, but we do know the final results of what did manage to get auctioned off.

According to a letter from chief executive Brian Farrell, the following studios and IPs were purchased:

  • 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

 

"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," Farrell wrote.

Some employees at least, will likely get the chance to stay at their respective studios as their new owners may offer them continued employment.

Source: CVG

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