THQ had their assets auctioned off today and had to give their competitors a change to buy the properties that were once THQ property. It was recently announced that THQ filed for chapter 11 bankruptcy and unfortunately, the auction is part of the consequences.
THQ had their assets auctioned off today and had to give their competitors a change to buy the properties that were once THQ property. It was recently announced that THQ filed for ch.11 bankruptcy and unfortunately, the auction is part of the consequences. Companies like SEGA and Crytek are now the proud owners of once THQ material. SEGA grabbed Relic, developer of Company of Heroes. Saint’s Row development company Volition now belongs to Koch Media. Crytek bought the Homefront franchise and Take-Two got their hands on an unnamed IP, which has the codename Evolve.
You could consider Ubisoft to be the big winners in all this auction talks. They now own the rights to THQ Montreal as well as the publishing rights to South Park: The Stick of Truth. THQ President Jason Rubin noted, "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."
As for THQ's employees, Rubin expects "most" of them to be included in the sale and offered employment by the new owners. However, early claims on Twitter are showing the casualties of the bankruptcy.
