THQ Goes Under

  • Different studios and properties going to the highest bidders
  • Relic Entertainment and the upcoming Company of Heroes game were bought by Sega
  • Ubisoft bought  South Park: The Stick of Truth for AU$3.08 million

Bad news for video game fans, as THQ, the California-based video game developer and publisher found

  • Different studios and properties going to the highest bidders
  • Relic Entertainment and the upcoming Company of Heroes game were bought by Sega
  • Ubisoft bought  South Park: The Stick of Truth for AU$3.08 million

Bad news for video game fans, as THQ, the California-based video game developer and publisher founded in 1989, is officially dead after the company files for bankruptcy.

It's been more than a month since the company filed for bankruptcy, though at the time a private investment firm called Clearlake Capital has come out to keep things going.  However, Clearlake's support evidently dried up, though, as this week reports came in that THQ would be broken up and auctioned off piecemeal in federal bankruptcy court, different studios and properties going to the highest bidders.

Good news thought is that at least THQ's numerous games, ranging from an RPG based on South Park to a horror-shooter set in post-nuclear Moscow, won't be going down with the mother ship.

The auction for the various pieces of THQ revealed that Relic Entertainment and the upcoming Company of Heroes game were bought by Sega for AU$25.2 million. THQ Montreal and its two little-known projects "1666" and "Underdog" were bought by Ubisoft AU$2.3 million, along with South Park: The Stick of Truth for AU$3.08 million.

Take-Two Interactive purchased the rights to Evolve for AU$10.2 million. Koch Media, which publishes games under the name Deep Silver, got Volition and Saints Row for AU$21.1 million as well as the Metro games for AU$5.5 million. And Crytek won Homefront for a bid of AU$515,650.

Meanwhile there's been no official word yet of the WWE license that THQ possessed, and company CEO Brian Farrell and President Jason Rubin wrote in a letter to employees (published by Kotaku) that Vigil and the Darksiders franchise currently have no buyer.

They told employees that many, though not all, of those whose studios were included in the auction should receive employment offers from the various buyers within the next week or so.

"The work that you all have done as part of the THQ family is imaginative, creative, artistic and highly valued by our loyal gamers. We are proud of what we have accomplished despite today's outcome," they wrote. "It has been our privilege to work alongside the entire THQ team. While the company will cease to exist, we are heartened that the majority of our studios and games will continue under new ownership."

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