Aww, that sucks. I really liked THQ, then they hired Jason Rubin and I liked them even more.

Guess I better grab some of their games I want off the PSN store while I still can.

Shame. I had hoped the profits they made from the humble bundle recently had helped.

It's always sad to see a company going down, whether you liked it or not. I hope all of their IPs manage to get other publishers.

Reading the external link gave a 2nd update, and some details:

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.

Did anyone read the article? The people bought them out, so that way they would continue to have operating money and no debt.

Assuming it goes through, THQ comes out a stronger company.

NOOOOOooooo

@bold. I read the article, but didn't gather that. The people = ?

EDIT: Okay, I didn't get the part about the "Stalking horse bidder".

clearlake capital group is most likely a corporate raider hoping to sell the assets at a higher price later on.

I think the people is the 'stalking horse bidder', some affliate of bold. (it's confusing for me too)

Man that's just so sad to hear...

THQ emphasized that this bankruptcy will not affect any of the games they currently have in production, a library that includes Metro: Last Light, South Park: The Stick of Truth, andHomefront II.

"All of the company's studios remain open, and all development teams continue," the press release reads. "The company remains confident in its existing pipeline of games."