News

THQ to Sell Off Remaining Properties

Source:   THQ
February 26, 2013


Following the announcement in January that it was closing, THQ has now confirmed it will sell certain remaining intellectual properties like Darksiders, Homeworld, MX vs. ATV and Red Faction. Here's the full press release:

THQ Inc. today announced that it will sell certain of its remaining intellectual properties (IP) via a Court-supervised sale process. Last month, THQ sold the majority of its studios and games in development as part of its Chapter 11 case. The company expects to complete the bidding and sale process for these remaining IP assets by mid-May.

The company has designated six lots of IP titles for bidding:

- Darksiders;
- Red Faction;
- Homeworld;
- MX;
- Other Owned Software, including Big Beach Sports, Destroy All Humans!, Summoner, and more; and
- Other Licensed Software, including Marvel Super Hero, Supreme Commander, Worms, and more.

Each lotís complete group of titles is listed at the end of this announcement.

Interested bidders must provide: 1) complete identification, including the names of corporate officers or those authorized to act on the bidderís behalf; 2) written evidence of authority to enter into the anticipated transaction; and 3) proof of financial ability to perform the contemplated transaction. Only those bidders who meet all three requirements will be provided access to confidential information about each lot of titles once a non-disclosure agreement has been executed. Documentation meeting these three requirements should be sent to auction@thq.com.

Initial bids must be submitted by April 1, 2013. Final bids are required by April 15. The company, in consultation with its unsecured creditors committee, will determine the best and highest bid for each lot and designate a back-up bid. In May, the sales will be presented to the Court for final approval.

THQ Inc. has received more than 100 expressions of interest in purchasing various titles; consequently, a vigorous sale is anticipated. The company has established a special clearinghouse at auction@thq.com for email questions about the forthcoming sales.
Last month, the Court approved the sales of three of THQ Inc.ís owned studios and games in development, as well as Evolve, a working title under development at Turtle Rock Studios, Homefront 2, Metro: Last Light and South Park: The Stick of Truth. Under the terms of the agreements with the successful and approved bidders, the THQ estate received approximately $72 million.

THQ and its domestic business units filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Court for the District of Delaware on Dec. 19, 2012.

For additional information about THQ, please visit www.thq.com. For information regarding the Chapter 11 case, please visit www.kccllc.net/thq.



| 7 comments | Add a comment

From Around the Web

comments powered by Disqus
Latest Headlines:

Comic-Con: Extended Red Band Trailer for Frank Miller's Sin City: A Dame to Kill For
Comic-Con: Check Out New Cosplay Photos from San Diego!
Update: Test Footage for Deadpool Feature Film Online
Meet the Villains of Disney Infinity: Marvel Super Heroes in New Trailer
Comic-Con: Most Craved Mini Reactions to Hall H's Biggest Saturday Reveals
The Hunger Games: Mockingjay - Part 1 Trailer is Here!
Comic-Con: Captain America's Cracked Shield from Avengers: Age of Ultron
Comic-Con Interview: The Makers of LAIKA's The Boxtrolls
Comic-Con: Interviews for The Hobbit: The Battle of the Five Armies
Comic-Con: Interviews from the Marvel Press Line and More Pictures!
Comic-Con: Arrow Season Three Trailer Reveals Villain Ra's al Ghul!
Box Office Results: Scarlett Johansson's Lucy Beats Dwayne Johnson's Hercules
Comic-Con: Watch the First Trailer for Mad Max: Fury Road!
Comic-Con: Avengers: Age of Ultron and Ant-Man Cast Videos and Photos
Comic-Con: Bruce Campbell to Headline Evil Dead TV Series
Comic-Con: The Trailer for Air, Starring Norman Reedus and Djimon Hounsou
Comic-Con: New Cosplay Gallery from the San Diego Convention!
Comic-Con: Guardians of the Galaxy 2 is Coming on July 28, 2017!

Follow ComingSoon.net on Twitter
MOST ACTIVE
From our partners