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THQ - Most assets sold - another auction in May - Crytek to buy Darksiders IP


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#181 Blaster man

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Posted 05 January 2013 - 03:56 PM

I hope more news agencies continue to pick up on this scam of a bankruptcy.
http://www.bloomberg...nd-loan-1-.html

How does that work, by the way? EA gets paid for each copy sold, but they don't have to give 38 Studios a cut anymore, since 38 doesn't exist? If so that's a pretty sweet deal for EA.

I don't know much about the 38 studios bankruptcy but generally speaking these proceeds and any other monies they get (such as for the sale of the studio and IP's going forward) will be held until it's decided how the creditors will be paid. In this case, the government will almost always be first so the state of RI will get all the money since they're owed so much and no one else that's owed money will get anything.

#182 Blaster man

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Posted 05 January 2013 - 11:20 PM

THQ's CEO.



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#183 Dead of Knight

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Posted 06 January 2013 - 03:26 AM

Well this is going to be more entertaining than I thought.
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#184 Blaster man

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Posted 07 January 2013 - 09:49 PM

It's still officially chapter 11 as far as I know but it is essentially a chapter 7 now. The company will be dissolved and sold piecemeal. THQ won't release any games and all their assets will be sold by the end of the month. GAME OVER.

http://www.joystiq.c...show-up-to-bid/

#185 Ryuukishi

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Posted 07 January 2013 - 10:53 PM

So what happens if one bidder purchases the Saints Row IP and another buys Volition? Saints Row 4 is SOL?

#186 bardockkun

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Posted 08 January 2013 - 12:51 AM

It means CheapyD better buy THQ.
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#187 advanced

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Posted 08 January 2013 - 12:54 AM

What happens to the South Park game now? :cry:

#188 Spokker

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Posted 08 January 2013 - 01:19 AM

It's kind of funny how they were talking about no layoffs. I'm not sure how they are going to pull that one off now.

#189 j-cart

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Posted 08 January 2013 - 01:20 AM

What happens to the South Park game now? :cry:



It suffers the fate of all Obsidian games. Critically panned, universally accepted as a hidden gem and sales are not met which cancels any chance for the title to garner a sequel of any type.

Honestly? No clue, but I sure hope they find a way to release it.

#190 Blaster man

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Posted 08 January 2013 - 01:31 AM

So what happens if one bidder purchases the Saints Row IP and another buys Volition? Saints Row 4 is SOL?

It won't work out that way. The court's job is to ensure that the most money possible is paid for the assets so that the creditors are paid back as much as possible.

What happens to the South Park game now? :cry:

Someone buys it and releases it in a couple more months. This could actually be good news for it since the buyer will only have the purchase price in it and not all those years of development costs. That means they may give more time to fix the bugs. Obsidian is making it and they're well known from KOTOR 2 to have problems at times.

It's kind of funny how they were talking about no layoffs. I'm not sure how they are going to pull that one off now.

That was always bullshit. Rubin was trying to steal the company and as soon as he owned it and games came out, you can be damn sure he'd have done layoffs. Now there's no pretense, there will definitely be layoffs. Developers should be okay. If I were overhead staff like accounting or whatever, I'd be sending my resume out.

#191 advanced

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Posted 08 January 2013 - 03:19 AM

It suffers the fate of all Obsidian games. Critically panned, universally accepted as a hidden gem and sales are not met which cancels any chance for the title to garner a sequel of any type.

Honestly? No clue, but I sure hope they find a way to release it.


At this point? I'll be happy if it's released. This THQ business has me all sorts of worried. A sequel would be great, but I don't know if this is the type of game that would even garner that kind of talk. It's definitely possible, as it's a licensed game and all.

Someone buys it and releases it in a couple more months. This could actually be good news for it since the buyer will only have the purchase price in it and not all those years of development costs. That means they may give more time to fix the bugs. Obsidian is making it and they're well known from KOTOR 2 to have problems at times.


Thanks for the rosy outlook. I'll be really upset if I can't get my hands on this because THQ went under.

#192 Nogib

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Posted 08 January 2013 - 03:32 AM

All I know is that somebody better still publish Company of Heroes 2 once Relic finishes it up this spring. Don't want THQ's downfall to destroy that game.
End of line.

#193 marsilies

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Posted 08 January 2013 - 08:27 PM

A new deadline for the sale has been set, and THQ may be sold piecemeal, but only if the bids for individual assets add up to more than the highest whole company bid.
http://www.gamesindu...specific-titles

The US bankruptcy court has confirmed that although THQs assets can be bought individually when they go up for auction on January 22, bids will only be considered if the value generated by separate sales exceed the price offered by a bidder for the entire company...

All bids must be received by January 22 at 9am Eastern Time. The auction will be held at 3pm and the hearing on the sale at 9:30am on January 23 with closing occurring a day later.



#194 Blaster man

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Posted 09 January 2013 - 12:36 AM

All I know is that somebody better still publish Company of Heroes 2 once Relic finishes it up this spring. Don't want THQ's downfall to destroy that game.


There's three games coming out in the next few months, Metro Last Light, South Park the Stick of Truth, and Company of Heroes 2. All three are so far along in development that someone is going to buy them and release them.

A new deadline for the sale has been set, and THQ may be sold piecemeal, but only if the bids for individual assets add up to more than the highest whole company bid.
http://www.gamesindu...specific-titles


Yep, that's because the judge in the case called them on their sweetheart deal that they tried for force down everyone's throats. They released a press release today stating that the piecemeal auction will only be allowed if it's final sale price is higher than the stalking horse bid (60 million). That's a giant no fucking kidding right there. No doubt they're still hoping that they'll get to hold onto the company. I really doubt that the auction will result in proceeds less than or equal to the stalking horse. I mean, Saint's Row 3 sold 5 million copies and Saint's Row 4 is schedule to be released later this year (info inside of Bankruptcy documents). A game that's maybe 6-9 months from release and will sell 5 million copies (assuming it doesn't do even better than SR3) is sure to be worth a lot of money...

#195 marsilies

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Posted 09 January 2013 - 01:02 AM

Yep, that's because the judge in the case called them on their sweetheart deal that they tried for force down everyone's throats. They released a press release today stating that the piecemeal auction will only be allowed if it's final sale price is higher than the stalking horse bid (60 million).

Not just the stalking horse bid. It's possible someone else may put a higher bid in for the whole company, which the piecemeal total would have to beat.

#196 Mr_hockey66

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Posted 10 January 2013 - 02:37 AM

Ea is supposed to be buying the whole company. I like ea so this might be a good thing. I'd like to see what ea does with wwe.
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#197 CaptainJoel

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Posted 10 January 2013 - 01:59 PM

I think EA is the worst possible company to buy THQ. WWE will turn into a shambling mess of a series. I guarantee it.

#198 Scorch

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Posted 10 January 2013 - 02:12 PM

Ea is supposed to be buying the whole company. I like ea so this might be a good thing. I'd like to see what ea does with wwe.


Well..

EA published and developed WCW Mayhem, which was poorly received. To "reboot" the franchise, EA turned to AKI, developers of the WCW/NWO Revenge and World Tour, as well as WWF No Mercy and WWF Wrestlemania 2000, on the N64. AKI (currently known as syn Sophia) developed an engine that was to be used for WCW Mayhem 2, but Vince McMahon bought WCW and WCW Mayhem 2 was scrapped. The engine was recycled into Def Jam Vendetta, which was well received. They improved on the engine for Def Jam: FFNY, still a very popular game.

The point is that EA has a good relationship with AKI/syn Sophia, the developers of the WCW and WWF N64 games. If EA picks up the WWE license, there's good reason to be excited.

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#199 Mr_hockey66

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Posted 10 January 2013 - 02:22 PM

Wcw/nwo revenge was one of the best wrestling games. I actually liked mayhem as well. It needed more polish but I still enjoyed it.
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#200 CaptainJoel

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Posted 10 January 2013 - 02:36 PM

I liked the character creation aspect of Mayhem, but that was it. I expect that if EA does buy THQ and gets the WWE license they'll probably make a wrestling game more like the last Def Jam (which was preeeetty shitty). It's really sad that THQ went down. I just started playing WWE '13 around Christmas and God, that game is a slice of fried gold.

#201 Blaster man

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Posted 10 January 2013 - 02:54 PM

It's been reported that Double Fine is looking into the bankruptcy. I doubt they can buy the big games but maybe they can revive Red Faction or some other IP that may not have as much interest. I've never played a Double Fine game I didn't like so I'd be excited to see anything coming out of them.

#202 CaptainJoel

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Posted 10 January 2013 - 02:58 PM

Hmmm... That's actually pretty interesting. I kind of hope that someone gets the Alter Echo, Destroy All Humans, or the Outfit franchises and releases a new game.

#203 Ryuukishi

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Posted 10 January 2013 - 02:59 PM

It's been reported that Double Fine is looking into the bankruptcy. I doubt they can buy the big games but maybe they can revive Red Faction or some other IP that may not have as much interest. I've never played a Double Fine game I didn't like so I'd be excited to see anything coming out of them.

Maybe they're looking to use the Saints Row IP for an adults-only spinoff of Kinect Party.

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#204 msdmoney

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Posted 10 January 2013 - 06:31 PM

It's been reported that Double Fine is looking into the bankruptcy. I doubt they can buy the big games but maybe they can revive Red Faction or some other IP that may not have as much interest. I've never played a Double Fine game I didn't like so I'd be excited to see anything coming out of them.


Double Fine doesn't really seem to fit with the main THQ franchises, especially with what they have been doing lately.

#205 marsilies

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Posted 10 January 2013 - 06:40 PM

It's been reported that Double Fine is looking into the bankruptcy...

I'm guessing they're looking to buy back the games they developed for THQ, Costume Quest and Stacking. I doubt they're looking to buy up any other IP.

#206 Dead of Knight

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Posted 10 January 2013 - 11:18 PM

I'm guessing they're looking to buy back the games they developed for THQ, Costume Quest and Stacking. I doubt they're looking to buy up any other IP.


This. Plus they don't have the money for anything else. Fuck, they already used up the millions they got from that Kickstarter when the original goal was far less.
RIP Hiroshi Yamauchi

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#207 Blaster man

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Posted 10 January 2013 - 11:33 PM

THQ bid procedures for those that want to read legal docs. I haven't had a chance to read them yet so I can't give a summary of the interesting parts. Feel free to skim through it and post your thoughts.

http://www.scribd.co...ding-Procedures

#208 marsilies

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Posted 11 January 2013 - 12:00 AM

This. Plus they don't have the money for anything else. Fuck, they already used up the millions they got from that Kickstarter when the original goal was far less.

To be fair, the Kickstarter money isn't gone; [Double Fine] crunched the numbers in December and calculated the the money will be gone before the game is done if they continued at the same game scope and progress rate that they had up to that point.

With their original goal, Double Fine was planning for a much smaller adventure game with a shorter turnaround time. When the Kickstarter exceeded their goal, they expanded the scope of the game to something much larger, but it took a few months of development for them to realize that the new scope was too large.

They're now kicking in some money themselves, but also are going to scale back the game some, as well as try and improve the development progress. It's pretty much standard for every game that at some point in the development cycle they have to re-evaluate the status of the game and adjust accordingly to stay in-budget and on time.

Edit: But you are right that they don't have a few spare million lying around to spend on new properties.

#209 Monsta Mack

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Posted 11 January 2013 - 12:24 AM

Ea is supposed to be buying the whole company. I like ea so this might be a good thing. I'd like to see what ea does with wwe.


Can someone explain to me how EA is still in business? Every year I read their financial reports and all I see is red ink. Year, after fucking year.

#210 The Crotch

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Posted 11 January 2013 - 12:26 AM

But you are right that they don't have a few spare million lying around to spend on new properties.


They do have plenty of motivation to try and get those, though. Acquiring the rights to Psychonauts was one of the smarter things they've done, apparently.

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