Forums - Gaming Discussion - THQ announed it has filed for bankrupcy

 

Shares of video game maker THQ (THQI) have been halted pending a news announcement. The stock had been down 16 cents, or almost 12%, at $1.22 before the halt.

Update: THQ announced it has filed for bankruptcy, according to wire service headlines just now out.

Update 2: THQ has announced that it has “entered into an asset purchase agreement with a ‘stalking horse bidder,’ affiliates of Clearlake Capital Group L.P., to acquire substantially all of the assets of THQ’s operating business, including THQ’s four owned studios and games in development,” and that it will file under Chapter 11 in U.S. Bankruptcy court in Deleware.

THQ’s foreign operations, including in Canada, are not included in the filings, it said.

Clearlake, and Wells fargo, will provide $37.5 million worth of debtor-in-possession financing, and THQ will continue to operate its business without interruption during the sale period, it said.

THQ shares are indicated to resume trading at 2:25 pm, Eastern time.

Update 3: THQ shares have resumed trading and are down 78 cents, or 57%, at 60 cents 93 cents, or 67%, at 45 cents.

 

http://blogs.barrons.com/techtraderdaily/2012/12/19/thqi-halted-for-news/?mod=yahoobarrons

 



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Okay, time to grab some talent and IPs then.

"Microsoft is not good at the game of capitalism. They don't believe in naturally being better than their opponents. They create artificial advantages [content] to even pose a threat."

S.T.A.G.E criticises Microsoft.

What does that mean? What happens to all of their IPs?

 photo Happy360ver2.png

Great yet another game company going bankrupt!

PSP, PS3, Vita, 3DS, Wii U and PS4.

'Man is Wolf to Man' 

'When the people are being beaten with a stick, they are not much happier if it is called the people's stick'- Mikhail Bakunin

Deep, Deep sleep of England

It was only a matter of time.

xKakashi209x said:
What does that mean? What happens to all of their IPs?


All thier IP's will probably be up for sale. Saints Row should go for a decent price.



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It means that they will try to get extensions or forgiveness on their loans. Try to get new capital from a large buyer to continue business. If that doesnt work then...bye bye

Oh okay. That makes things interesting. Saints row is a gem.

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Giving away a bunch of pc games for dirt cheap probably didn't help lol

I kinda gave up on this signature thing.

  Gaming on: PS3, PC, Wii, 3DS(XL), PS Vita (gathering dust), HTC One M8

xKakashi209x said:
What does that mean? What happens to all of their IPs?

Depends on the type of bankruptcy they file for. It's possible that they can hold onto most if not all of them if things go their way...but my impression is that the trustee is about to have a fire sale.



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Hopefully Darksiders goes to a decent developer.