PCR Tech and IT retail, distribution and vendor news
A title-by-title auction of the struggling publisher’s portfolio is scheduled for later this month after plans of a buy-out fell through.
THQ initially field for bankruptcy before Christmas but assured it would continue work on its current titles after a $60 million takeover from investment company Clearlake Capital Group.
However, creditors for THQ have since blocked this sale after reportedly being unhappy with the agreement that was established.
The deal prohibited other parties from entering the bidding process, which ultimately limited the returns to be made from the bidding process.
Distressed Debt Investing has now scheduled an auction for THQ’s assets and IP, which is scheduled to take place on January 22nd.
Since the announcement, it has emerged that rival publisher EA has shown strong interest in taking on a number of THQ’s game IP.
Titles set to be auctioned off include Company of Heroes, WWE, Dawn of War, Metro and the firm’s most successful franchise, Saints Row.
EA, the publisher behind chart toppers such as FIFA, Battlefield and The Sims, is listed as "a potential buyer of certain titles".
Rival publishers Ubisoft and Warner Bros have also shown significant interest in THQ’s portfolio.
Want to receive up-to-the-minute tech news straight to your inbox? Then click here to sign up for the completely free PCR Daily Digest and Newsflash email services. You can also follow PCR on Twitter and Facebook.
