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Old 01-09-2013, 05:07 PM   #41
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The auction has some pretty weird rules in that if any bid for an IP is less than $60 million then the decision that blocked Clearlake Capital Group from buying THQ gets lifted.

If a bid goes over $60 million then that group also has the ability to buy THQ while CCG has to wait until after the auction and only if that group declined. Think CCG can even lower their $60 million offer since it would now be based on what THQ has left.

Saints Row 4 is the only IP being valued at over $60 million so whoever buys it has the chance to also own THQ. The WWE series is only worth around $30-$40 million or what THQ basically earns each year from sales.
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Old 01-09-2013, 05:17 PM   #42
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Quote:
Originally Posted by Smelly Meatball View Post
The auction has some pretty weird rules in that if any bid for an IP is less than $60 million then the decision that blocked Clearlake Capital Group from buying THQ gets lifted.
Because that was essentially a bid. That's not particularly weird or confusing. The problem is that the window for competing bids was small.
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Old 01-23-2013, 03:22 PM   #43
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THQ are done. Everything has been sold off to other people.

Quote:
Originally Posted by Kotaku
Today, THQ was officially sold and auctioned off. Within the next few weeks, the company will be no more.

The company's assets have been divided: Sega agreed to purchase Relic (Company of Heroes), Koch Media has agreed to purchase Volition (Saint's Row) and the Metro property, Crytek has agreed to buy Homefront, Take-Two will purchase the unannounced game Evolve, and Ubisoft will buy THQ Montreal and the South Park game.
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Old 01-23-2013, 03:37 PM   #44
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The South Park game (Stick of Truth) is only for publishing rights since South Park Studios filed a complaint saying THQ doesn't actually own the IP.


Quote:
WWE/THQ update is


Well, nothing official. Officially, nothing was said publicly, for a variety of reasons regarding the WWE video game license, although it will be very soon.

There is a deal in place but all the paperwork hasn't been completed. It is not with EA.

...

The WWE license was not part of the auction but is a separate entity and all information requiring its sale has been kept within very few in the company.
Last edited by Emperor Smeat; 01-23-2013 at 04:16 PM.
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Old 01-23-2013, 04:51 PM   #45
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It's a sad day that THQ are officially dead now.

I'm glad though that it's not EA that has a deal in place for the WWE license. It just leaves me curious as to who has the deal.
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Old 01-23-2013, 05:22 PM   #46
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Giantbomb has been updating as the news as it comes out. They just got the figures on who paid for what.

$500k Homefront (Crytek) Highway robbery.
$26M for Relic (Sega)
$2.5M for THQ Montreal (Ubisoft)
$3.2M for South Park (Ubisoft)
$11M for Evolve (Take-Two)
$22.3M for Volition (Koch Media)
$5.8M for Metro (Koch Media)
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Old 01-23-2013, 07:28 PM   #47
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thats a lot of money
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Old 01-23-2013, 07:36 PM   #48
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A letter got sent out to all THQ employees today.

Quote:
January 23, 2013

To All THQ Employees:

We now have the answers we've been seeking through our financial restructuring and Chapter 11 case. While much will be written, here are the facts of the bids and auction that occurred :

Yesterday morning, we received a competing bid for the operating business, along with Clearlake's offer, and numerous offers for separate assets.

During an auction process that lasted over 22 hours, the final conclusion was that the separate-asset bids would net more than a single buyer for the majority of the company.

Shortly, we will, present the results to the U.S. Bankruptcy Court, which must concur with our assessment.

The proposed sales of multiple assets is as follows :

Sega agreed to purchase Relic

Koch Media agreed to purchase Volition and Metro

Crytek agreed to purchase Homefront

Take 2 agreed purchase Evolve and

Ubisoft agreed to purchase Montreal and South Park

We expect these sales to close this week.

Some assets, including our publishing businesses and Vigil, along with some other intellectual properties are not included in the sale agreements. They will remain part of the Chapter 11 case. We will make every effort to find appropriate buyers, if possible.

What this means for employees

We expect that most employees of the entities included in the sale will be offered employment by the new owners. However, we cannot say what these owners may intend, and there will likely be some positions that will not be needed under the new ownership. You should receive notice this week or early next week if the new owners intend to extend employment to you. Please note that the terms of your new employment, including pay and benefits, may be different from the current terms of your employment with THQ.

If you are an employee of an entity that is not included in the sale, we regret that your position will end. A small number of our headquarters staff will continue to be employed by THQ beyond January 25 to assist with the transition. THQ has sufficient resources to pay these employees for work going forward, and we will be contacting these employees immediately to ensure their continued employment during this transition period. We are requesting the ability to offer certain severance pay to minimize disruption for employees of non-included entities as they determine the next steps in their careers.

We know you will have many questions about this news. We'll be meeting tomorrow when we return to talk through this announcement and to answer any questions you have. You will receive a benefits fact sheet and FAQs with answers to some questions that may be on your mind. Please review these materials closely.

A personal note

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.

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. We were hoping that the entire company would remain intact, but we expect to hear good news from each of the separate entities that will be operating as part of new organizations.

For those THQ employees who are part of entities that are not included in the sale, we are confident that the talent you have displayed as part of THQ will be recognized as you take the next steps in your career.

Thank you all for your dedication and for sharing your talent with the THQ team. We wish you the best of luck and hope you will keep in touch.

Sincerely,

Brian Farrell

Chief Executive Officer

Jason Rubin

President
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Old 01-23-2013, 07:45 PM   #49
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Quote:
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It's a sad day that THQ are officially dead now.
I hate when shit companies go out of business for bad business moves.
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Old 01-23-2013, 07:45 PM   #50
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Quote:
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A letter got sent out to all THQ employees today.
It's only a rumours.
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Old 01-23-2013, 08:58 PM   #51
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Apparently Take Two may be taking over the WWE license.
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Old 01-23-2013, 10:02 PM   #52
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Dunno why Crytek would want Homefront. Unless they are really going to try and be like "CryEngine 3 will make Homefront 100 times better than it was with Unreal."
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Old 01-23-2013, 10:11 PM   #53
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Quote:
Originally Posted by Xero View Post
Apparently Take Two may be taking over the WWE license.
According to IGN, 2k Games would be in charge of the series since they asked Take Two to make the bid. Might end up keeping Yukes if they don't use one of their own studios to develop the game.
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Old 01-24-2013, 03:00 AM   #54
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Think Relic and Sega will be a good fit.
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Old 01-24-2013, 03:05 AM   #55
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Nobody bid on Darksiders/Vigil.

lol
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Old 01-24-2013, 02:09 PM   #56
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Platinum Games said they would be willing since nobody bothered but only if it was cheap since they barely have any money as well.
http://www.screwattack.com/news/head...rs-right-price
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Old 01-26-2013, 01:01 PM   #57
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Another auction is planned to happen a few weeks from now for all the smaller IPs, studios, and anything that wasn't purchased in the first auction from THQ.

The de Blob, Red Faction, Destroy All Humans!, and Darksiders series are some of the bigger names left for sale.
http://www.ign.com/articles/2013/01/...old-separately
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Old 01-26-2013, 01:17 PM   #58
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cant believe no one picked up vigil.
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Old 01-27-2013, 07:47 AM   #59
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I hope someone good buys Destroy All Humans and actually does something fun with it. I enjoyed the original but I hear everything after that was just awful.

The series has a lot of potential for fun.
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Old 01-27-2013, 10:01 AM   #60
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Quote:
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cant believe no one picked up vigil.
Considering Darksiders was one of their big franchises and the second one sold damn well (albeit " below THQ's expectations"), I'm surprised, too.

Quote:
Originally Posted by Drakul View Post
I hope someone good buys Destroy All Humans and actually does something fun with it. I enjoyed the original but I hear everything after that was just awful.

The series has a lot of potential for fun.
I remember renting the original and enjoying it. I'd love to play something in that style and if someone were to resurrect the series, I'd definitely give it a spin. Kinda wished I'd actually owned the original, though.
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Old 01-27-2013, 11:45 AM   #61
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Is the WWE purchase still a rumours?
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Old 01-27-2013, 12:42 PM   #62
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purchased***
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Old 01-31-2013, 01:29 PM   #63
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Old 02-01-2013, 08:10 PM   #64
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So with THQ being dead now, I guess this game will never see the light of day.
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Old 02-01-2013, 08:10 PM   #65
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That is, unless Take-Two/2K pick it up, which is highly doubtful.
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Old 02-02-2013, 07:48 AM   #66
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I just don't see the market for an exclusive WWE "Mortal Kombat" fighting game. I think it'd be cool as an extra mode or something, but a wrestling game is already a fighting game, so why would people buy 2 WWE games. The novelty of fighting John Cena in a post-apocalyptic subway station isn't enough to drop $59.99 on.
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Old 02-02-2013, 07:49 AM   #67
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WWE should try and do a Kingdom Hearts type collaboration with an RPG series.

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Old 02-02-2013, 12:34 PM   #68
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So with THQ being dead now, I guess this game will never see the light of day.
Nor will
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Old 02-13-2013, 07:30 PM   #69
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Quote:
Originally Posted by Bloomberg.com

Take-Two to Take Over Development of WWE Games From THQ

Take-Two Interactive Software Inc. agreed to take over development and production of World Wrestling Entertainment Inc. video games from bankrupt THQ Inc.

THQ’s agreement reached with the maker of the “Grand Theft Auto” video-game franchise, WWE and Yuke’s Co., a Japanese- based game-developer that was contracted by THQ to help produce the wrestling video games, will save the company millions by reducing claims against the bankrupt video-game maker, according to court documents filed yesterday.

“By working together to transition development of WWE games going forward the parties have minimized the harm to WWE and Yuke’s, which have, in turn, agreed to substantial reductions of their claims” against THQ, lawyers for the company said in court papers. The lawyers said without the agreement, WWE and Yuke’s claims “would certainly exceed $30 million and might exceed $60 million.”

THQ, the maker of the “Saints Row” and “Company of Heroes” video games, failed in its effort to survive the bankruptcy reorganization intact as individual titles and studios were gobbled up by competitors at an auction last month. Most of its assets were sold at the auction, bringing in about $72 million. The remaining assets at the company, including the “Darksiders” franchise, are worth about $29 million, according to THQ attorney Jeffrey C. Krause.

New Agreements

Under the accord, the WWE and Yuke’s contracts will be terminated and the companies will be allowed to enter into new agreements with Take-Two, which will hire THQ’s employees that work on the wrestling games, according to court documents.

The deal will also “eliminate very large damage claims” that would have otherwise materialized from terminating the contracts, according to the court filing.

WWE agreed to waive its pre-bankruptcy claims of about $45 million and any claims for annual royalty advances of about $7.5 million for the licensing contract that would have run through 2017. THQ will pay WWE $650,000 in royalty payments for the WWE games sold while under bankruptcy protection.

THQ owns about 14 percent of Yuke’s equity and has agreed to give the Japanese developer the 1,552,000 shares, about $4.5 million in value, in exchange for a release of Yuke’s pre- bankruptcy claims of about $15 million to $20 million. Yuke’s will also get a $250,000 royalty payment.

‘UDraw’ Losses

The Agoura Hills, California-based video-game maker said it was forced to seek bankruptcy protection after sustaining losses for the past five fiscal years. The company listed assets of $204.8 million and debt of $248.1 million when it sought court protection on Dec. 19.

The company was devastated by recent losses tied to the “uDraw” peripheral device for video-game consoles. While the device that lets users reproduce their drawings on their television had early success on Nintendo Co.’s Wii console, the versions for Sony Corp.’s PlayStation 3 and Microsoft Corp.’s Xbox 360 struggled to gain traction and “fell far short of expectations,” according to court documents.

The case is In re THQ Inc., 12-13398, U.S. Bankruptcy Court, District of Delaware (Wilmington).
http://www.bloomberg.com/news/2013-0...-from-thq.html
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Old 02-13-2013, 08:54 PM   #70
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This means that the port of WrestleFest is cancelled too.
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Old 02-13-2013, 11:16 PM   #71
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Oddly, you can buy WWF Wrestlefest DLC on PSN but not the actual game.
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Old 02-14-2013, 03:34 AM   #72
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Damn, I can't believe WWE is willing to eat those losses.
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Old 02-14-2013, 03:50 AM   #73
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They'll make it all back and then some with a great producer like Take Two.
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Old 02-14-2013, 04:38 AM   #74
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They don't have a choice about eating those losses, unless the choice is not having any more games.
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Old 02-14-2013, 11:35 AM   #75
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Acclaim should take WWE back
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Old 02-14-2013, 12:17 PM   #76
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They don't have a choice about eating those losses, unless the choice is not having any more games.
Business is hard to understand, man.
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Old 02-20-2013, 06:32 PM   #77
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Quote:
Originally Posted by WWE.com

2K and WWE announce exclusive multi-year agreement for WWE video game series


NEW YORK — 2K and WWE today announced that they have entered into an exclusive multi-year agreement granting 2K the exclusive worldwide rights to publish the critically acclaimed WWE video game franchise across all major platforms and distribution channels. The series, which will continue to be developed by Yukes in Japan, will combine the studio’s signature gameplay with 2K’s commitment to authenticity in WWE ’14, the latest iteration of the popular, long-running series. With the addition of the WWE franchise, 2K will continue a highly successful, 15-year tradition established by past WWE titles. Financial terms were not disclosed.

“The WWE series is a great addition to our stable of triple-A titles, and we’re very happy with this exclusive agreement with our new partners,” said David Ismailer, Chief Operating Officer for 2K. “We look forward to capturing the excitement of WWE and marrying it with the same commitment to authenticity and entertainment that we give to our NBA 2K and MLB 2K franchises.”

2K has a strong history in growing premier sports simulation titles, evidenced by the incredible commercial success of the NBA 2K series, with more than 15 million units of NBA 2K11, NBA 2K12 and NBA 2K13 sold to-date worldwide. This year, in the first week of its release, NBA 2K13 sold 49 percent more copies in the same time frame than the franchise’s previous record-holder, NBA 2K11.

“2K’s reputation for outstanding quality and dedication to authenticity are a perfect fit for WWE,” said Casey Collins, Executive Vice President, Consumer Products for WWE. “This new partnership will ensure that WWE continues to be one of the leading video game brands in the world and we look forward to continuing the franchise with the benefit of their expertise across a variety of platforms.”

“The development work on the WWE franchise is impressive, and we’re excited to combine our background in developing the NBA 2K series with theirs in this new partnership,” said Greg Thomas, Executive Vice President of 2K Sports. “Fans can expect the most authentic WWE experience on game consoles this fall.”

Developed by Yukes, WWE ’14 is not yet rated by the ESRB and will be available for consoles in fall 2013.

For more information on 2K, visit www.2K.com.
http://www.wwe.com/inside/thq/wwe-13...ries-26090727/
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Old 02-27-2013, 05:07 PM   #78
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2nd auction will occur in April and last from the 1st till the 15th.

Everything that wasn't purchased or unavailable from the 1st auction will be on sale with Homeworld, Destroy All Humans, Red Faction, and Darksiders as the big IPs left.

Also being auctioned off is the publishing rights to Marvel Super Hero Squad, Supreme Commander, and Worms.

http://www.screwattack.com/news/thq-...g-assets-april
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Old 02-27-2013, 06:43 PM   #79
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Don't forget uDraw.
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