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:

In the Heat of the Night Heads Back to Television
Steve Carell to Headline ACME-Focused Looney Tunes Movie
The Walking Dead Lands on the Cover of Entertainment Weekly, Plus Father Gabriel Revealed!
Stan Lee to Appear in Kevin Smith's Yoga Hosers
Millennium Entertainment to Release The World Made Straight
Joss Whedon Directs Hawkeye in New Avengers: Age of Ultron Photo
The Resistance Has Arrived on Six New The Hunger Games: Mockingjay Posters
Fifty Shades of Grey's Jamie Dornan to Star in The 9th Life of Louis Drax
Microsoft to Release Xbox One Standalone Kinect Sensor in October
Marvel's Guardians of the Galaxy Crosses the $500 Million Mark Worldwide
Robert Downey Jr. Reveals the New Poster for The Judge
New International Trailer and Poster for Horns, Starring Daniel Radcliffe
ComingSoon.net Turns 16! And Something New is Coming...
Amazon to Debut Jill Soloway's Dark Comedy Transparent on Sept. 26
Dragon Age: Inquisition Cooperative Multiplayer Announced
Disney Infinity Releases New Trailer Featuring Big Hero 6's Hiro and Baymax
Tyreese is Not Alone in a New Teaser for The Walking Dead's Fifth Season
Mario Kart 8 DLC Packs to Add 16 New Courses, Plus New Drivers and Karts

Follow ComingSoon.net on Twitter
MOST ACTIVE
From our partners