Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
April 27, 2015
arrowPress Releases
April 27, 2015
PR Newswire
View All

If you enjoy reading this site, you might also want to check out these UBM Tech sites:

THQ files for bankruptcy as it hands itself over to a new owner
THQ files for bankruptcy as it hands itself over to a new owner
December 19, 2012 | By Frank Cifaldi

Troubled game publisher THQ is handing itself over to a new owner.

Clearlake Capital Group is fronting $60 million to acquire THQ's business, including its four development studios (Vigil, Relic, Volition and THQ Montreal) and all of its games currently in development. In order to facilitate the sale, THQ filed for Chapter 11 bankruptcy on Tuesday.

THQ says that operations will resume as normal during the transition, should the bankruptcy court approve.

"The sale and filing are necessary next steps to complete THQs transformation and position the company for the future, as we remain confident in our existing pipeline of games, the strength of our studios and THQs deep bench of talent," CEO Brian Farrell said in a statement.

According to THQ, in addition to its internal studios, Clearlake plans on inheriting all of its existing contracts with outside developers.

[Update: THQ has posted a reponse to the bankruptcy news, stating that the Clearlake deal isn't yet fully nailed down, as THQ is waiting to see if any other offers come in first.

"Our Chapter 11 process allows for other bidders to make competing offers for THQ," says Jason Rubin, President of THQ. "So while we are extremely excited about the Clearlake opportunity, we wont be able to say that the deal is done for a month or so."]

Related Jobs

Retro Studios - Nintendo
Retro Studios - Nintendo — Austin, Texas, United States

Concept Artist - RETRO STUDIOS
Sony Computer Entertainment America LLC
Sony Computer Entertainment America LLC — San Diego, California, United States

Staff SW App Engineer
Evertoon — San Francisco, California, United States

Senior Mobile Engineer at Animated-Movie Startup
Off Base
Off Base — San Francisco, California, United States

Game Platform Engineer

Loading Comments

loader image