THQ files for bankruptcy

[Izuno]

http://venturebeat.com/2012/12/19/thq-files-for-bankruptcy-assets-sold-to-investor-clearlake/

Sad day this is.

[-HP-]

Yeah, expected tho.

[Furyo]

It was their last chance to ever bounce back. Let's hope they do so now that they have a buyer.

[Chimeray]

Sad indeed Can't say we didn't see this one coming but that doesn't improve the situation, hoping for the best! :/

Edited December 19, 2012 by Chimeray

[Mazy]

Fucking hell, not surprising but very depressing indeed. The big games biz is bleeding so bad right now, and a new generation won't make it any better.

[Vilham]

ballllllllllllllllllllllllllllllllllllllllllllls. hope either the studios get bought up or the entire publisher does...

[Beck]

Looks like THQ as a whole has been bought up

THQ's four owned studios and games in development - Metro: Last Light, Company of Heroes 2, South Park: The Stick of Truth, and the Saints Row title formerly known as Enter the Dominatrix - are still moving forward under the new ownership of Clearlake Capital Group, a company that's buying out THQ's assets for $60 million.

http://www.eurogamer.net/articles/2012-12-19-thq-files-for-bankruptcy

Good news! Really looking forward to some of their future games. I hope they do well from now on!

[-HP-]

That's very good news! Awesome.

[blackdog]

Let's hope everything turns out for the best, it would be a shame with all that talent... and they have a very good lineup for next-year!

Guess this is positive:

THQ noted that it "does not intend to reduce its workforce as a result of the filing, and employees will continue to work their usual schedules and receive normal compensation and benefits, pending customary Court approval."

Edited December 19, 2012 by blackdog

[D3ads]

Good news

[Kedhrin]

Fucking hell, not surprising but very depressing indeed. The big games biz is bleeding so bad right now, and a new generation won't make it any better.

This isn't really true... We need a new generation really bad. This prolonged console cycle is what is hurting AAA very bad. There's just too many things wrong with it on the business, bureaucratic and technical front. A new console is going to do wonders. I cannot wait and we've stopped all focus on current gen because of it.

It's really just weeding out old theories and old mentalities of thinking... which is a great thing, yet sad thing at the same time for those caught in the crossfire.

Also, as far as THQ is concerned, i wonder if we're going to get anymore royalty checks lawl

[Vilham]

Guys its been bought up by a venture company that then sells it on either piece by piece or as a whole. The article on Forbes, I think, explains it.

[Minos]

Fucking hell, not surprising but very depressing indeed. The big games biz is bleeding so bad right now, and a new generation won't make it any better.

This isn't really true... We need a new generation really bad. This prolonged console cycle is what is hurting AAA very bad. There's just too many things wrong with it on the business, bureaucratic and technical front. A new console is going to do wonders. I cannot wait and we've stopped all focus on current gen because of it.

It's really just weeding out old theories and old mentalities of thinking... which is a great thing, yet sad thing at the same time for those caught in the crossfire.

Also, as far as THQ is concerned, i wonder if we're going to get anymore royalty checks lawl

Can't see how a new generation of more expensive consoles will help solve those issues at all? It's gonna take a while until the installed based reach current gen's level anyway, pair that with higher production costs and you got a recipe for disaster

What is hurting AAA games are AAA games themselves and stupid design/production decisions, not the hardware.

[Izuno]

Given THQ's cash situation, bankruptcy was the obvious choice, and honestly the smartest move under the circumstances. If it is to have any chance at long term survival it must get games to market and they must sell...no other way to say it. For a long time it could get away with bad product or a big flop given it had enough products in the market to sustain itself. But too many misses and the losses just piled up. It was a negative war of attrition.

Anyway, if you are someone who wants to see THQ live on, pray they release their games and when they do, go buy them. Nothing else to say.

[cincinnati]

hope the turtle rock game survives all of this.